Mortice Limited O&G appointed to £60m cleaning framework (1352K)
September 19 2016 - 1:00AM
UK Regulatory
TIDMMORT
RNS Number : 1352K
Mortice Limited
19 September 2016
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014
Mortice Limited
("Mortice" or the "Company")
O&G appointed to London Universities' GBP60m cleaning
framework
Mortice Limited (AIM: MORT), the AIM listed security and
facilities management company, announces that its wholly owned
subsidiary, Office & General Group Limited (O&G), it has
signed a Framework agreement with the London Universities
Purchasing Consortium (LUPC), which covers the provision of
cleaning and associated support services for LUPC members in
Greater London and South East England over a 3 year period.
The Framework agreement is split into three lots: one-stop shop
cleaning and associated support services, residential cleaning
services and non-residential cleaning services. It will last three
years, with the option to extend for a further 12 months, and
covers an expected total value of cleaning services of around
GBP60m.
As part of the Framework, member institutions may from time to
time invite suppliers within the Framework to participate in
tenders for the provision of cleaning services. Whilst O&G is
not an exclusive provider of services to this Framework, it is the
only contractor to be appointed to all three elements of the LUPC
Framework and so is well positioned to benefit from this
agreement.
Member institutions that are part of this Framework agreement
include: Birkbeck College; UCL's Institute of Education; the School
of Oriental and African Studies; the Royal College of Music; the
Royal College of Art; Heythrop College; and Goldsmiths, University
of London, amongst others.
This announcement follows on from the news in February this year
that O&G was confirmed as the new facilities services provider
for the University of Hertfordshire in a contract worth in excess
of GBP55 million over 10 years. O&G became part of Mortice in
September 2015 and for the year ended 31 March 2016 contributed
$30.8m (c. GBP23.2m) revenues during the seven months as part of
the enlarged company, equating to annualised revenues of around
GBP39m.
Commenting, Manjit Rajain, Executive Chairman of Mortice, said:
"This Framework agreement represents a great opportunity to further
enhance O&G's position in the UK facilities management market
place. We are incredibly well-positioned as the only supplier to
feature on all three parts of the Framework agreement and given we
are fully mobilised on our existing contract with the University of
Hertford, we can clearly demonstrate our expertise in providing
high quality services to Further Education clients and Academic
Institutions. We look forward to updating shareholders on our
progress pursuant to this Framework agreement."
Mortice Limited www.morticegroup.com
Manjit Rajain, Executive Tel: +91 981 800 0011
Chairman
finnCap Ltd Tel: 020 7220 0500
Adrian Hargrave / Giles Rolls
/ Alex Price (Corporate Finance)
Tony Quirk (Corporate
Broking)
Walbrook PR Tel: 020 7933 8780 or mortice@walbrookpr.com
Paul McManus/ Sam Allen Mob: 07980 541 893 / 07884
664 686
About Mortice Limited
Mortice (AIM: MORT), is an AIM listed security and facilities
management company, incorporated in Singapore and based in India
with additional operations in Singapore and the UK.
Mortice operates under two brands, in India:
-- Peregrine - provision of guarding and security services to a
wide range of clients from blue-chip companies, smaller businesses,
commercial and private properties, and individuals.
-- Tenon - provision of a full range of facilities management
services to corporate occupiers, owners and developers of real
estate. Clients include some of the world's most respected
blue-chip and home-grown companies. Within the Tenon group of
companies Mortice also offers security surveillance services
through its subsidiary Soteria and mechanical and engineering
services via Rotopower
The business is growing and profitable and is focused on
expanding its geographical footprint and growing through targeted
acquisitions, as well as organically.
In 2015 the Company established Tenon UK and through this wholly
owned subsidiary acquired UK based Office & General Group
Limited, an independent property service company specialising in
cleaning and providing support services such as environmental
solutions and built fabric maintenance in the UK. In addition, the
Company acquired a 51% majority stake in Singapore-based security
company Frontline Security Pte. Ltd, and has an option to acquire
an additional 25% within three years.
Learn more about Mortice through this video interview with
Manjit Rajain, Executive Chairman of Mortice:
www.brrmedia.co.uk/broadcasts/57c94e8cd6c09fd74b0ae623/mortice-unlocking-potential
This information is provided by RNS
The company news service from the London Stock Exchange
END
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