Starcom PLC Agreement with CropX (2335P)
August 30 2017 - 1:00AM
UK Regulatory
TIDMSTAR
RNS Number : 2335P
Starcom PLC
30 August 2017
30 August 2017
Starcom Plc
("Starcom" or "the Company")
Agreement with CropX
Starcom (AIM: STAR), which specialises in the development of
wireless solutions for the remote tracking, monitoring and
protection of a variety of assets and people, is pleased to
announce that an agreement has been reached with CropX Ltd
("CropX") for the supply of a number of units based on the
technology of Kylos Air with agreed modifications to suit the needs
of CropX.
The agreement provides for an initial order to be delivered by
January 2018 and, subject to satisfactory performance, further
orders are expected to be placed between April and August 2018. The
aggregate potential order value of the agreement is bound by
commercial confidentiality but would be significant in relation to
historic revenues for 2017. An initial payment on account of a
development service fee (which includes the cost of the initial
order) has been received by the Company.
CropX is an Israeli company which is now a world leader in the
provision of its devices to farmers enabling them accurately to
measure the irrigation needs, in real time, of their crops through
the deployment of sensors in their fields.
The agreement reached between the two companies follows a long
period of joint development and demonstrates the flexibility of
Starcom's technology to adapt to many different uses.
-ends-
This announcement contains inside information.
For further information, please contact:
Starcom Plc
Michael Rosenberg, Chairman 07785 727 595
Avi Hartmann, CEO +972 5430 70103
+972 3619 9901
Northland Capital Partners Limited (Nominated Adviser and Broker) 020 3861 6625
Edward Hutton / David Hignell (Corporate Finance)
John Howes (Sales and Broking)
Peterhouse Corporate Finance (Joint Broker) 020 7469 0930
Lucy Williams / Charles Goodfellow / Eran Zucker
Leander PR (Financial PR) 020 7520 9267
Christian Taylor-Wilkinson 07795 168 157
This information is provided by RNS
The company news service from the London Stock Exchange
END
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