CORETX Holdings PLC Investment in facility to support contract wins (4840X)

TIDMCOR

RNS Number : 4840X

CORETX Holdings PLC

22 February 2017

CORETX Holdings Plc

("CORETX" or "the Company")

Investment in New Lifecycle Facility to support new order flow

CORETX Holdings plc (AIM: COR), the mid-market network, cloud and IT managed services provider announces that it is establishing a new facility to enhance its full IT Lifecycle services which cover the deployment and secure management of new generation end user devices, in line with CORETX's strategy to meet customer demand for a broader range of IT managed services.

In January 2017, CORETX signed a number of significant new customer contracts for Lifecycle services that have a Total Contract Value of GBP5.85m and, as a result of these wins, CORETX will configure, deploy and support over 80,000 new end user devices through their full lifecycle.

CORETX is initially making a GBP500,000 investment in a new facility in Dartford to deliver Lifecycle managed services to customers, and provide significant extra capacity to support future growth in this area.

Andy Ross, Chief Executive of CORETX said "We are moving our existing Lifecycle services operations from Bromley to our new facility in Dartford to allow us to scale our operations, deliver a better and more comprehensive solution to both existing and new customers, and grow our workforce including the opportunity to expand our IT Apprenticeship scheme."

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

 
 CORETX Holdings Plc   Tel: +44 (0)844 
  Andy Ross, CEO        874 1000 
  Julian Phipps, CFO 
 N+1 Singer            Tel: +44 (0)207 
  Nominated Advisor     496 3000 
  and Broker 
  James Maxwell 
  Liz Yong 
 MXC Capital Markets   Tel: +44 20 7397 
  LLP                   8900 
  Financial Adviser 
  Marc Young 
  Charles Vivian 
 Alma PR Limited       Tel: +44 7780 
  Josh Royston          901 979 
  Robyn McConnachie

This information is provided by RNS

The company news service from the London Stock Exchange

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February 22, 2017 02:00 ET (07:00 GMT)

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