26 November 2024

Tracsis plc

("Tracsis" or "the Group")

Preferred bidder status for the procurement of a PAYG Tap Converter system across GB rail

Tracsis (LSE: TRCS), a leading transport technology provider, is pleased to announce that Rail Settlement Plan Limited (trading as Rail Delivery Group* in the UK) has taken forward a proposal from iBlocks Limited (a subsidiary of Tracsis plc) to Preferred Bidder status for the procurement of a Pay As You Go (PAYG) Tap Converter system.  When operational, the PAYG Tap Converter system aims to provide a reliable 'best fare' guarantee for consumers using PAYG ticketing services across GB rail.

At this point, negotiations remain on a non-exclusive basis and there is no guarantee that a final contract will be awarded. Any final contract award will only be made after concluding contract negotiations and confirmation of funding from the Government.

*The Rail Delivery Group is a membership organisation that works on behalf of the UK rail industry to create a simpler, better railway. Its members are the Train Operating Companies that make up the rail industry across Britain.

Enquiries:

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Notes to editors: 

-   Rail Technology & Services:  A software, technology and product led business. It develops and supplies software that solves complex resource, asset optimisation and control problems for Train Operators, and smart ticketing, delay repay and other retail software to improve the customer experience for rail users. It also develops remote condition monitoring hardware, data acquisition software, and safety and risk management software for rail infrastructure providers.

-   Data, Analytics, Consultancy & Events: A largely services led business that focuses on data capture, data analytics, GIS, earth observation, data insights, consultancy and event traffic management within a range of transport and pedestrian rich environments. The business provides technology and bespoke products and data that underpin large scale intelligent transport systems, smart city planning and positive environmental decision making.