Contract as part of major UK Government project

17 June 2020

RNS Reach

The Panoply Holdings PLC

("The Panoply", the "Group", and the "Company")

New contract as part of major UK Government project

The Panoply (AIM: TPX), the technology-enabled services group focused on digital transformation, announces that it is now able to disclose that its subsidiary FutureGov has won a strategically significant contract with the Ministry of Housing, Communities and Local Government (MHCLG), as part of the £9.5 million of new business wins in the first 8 weeks of the current year that the Group announced on 26 May 2020. The project will enable local authorities across England to access the £3.6 billion 'Towns Fund', a fund that will be invested into 100 towns as part of the government's plan to level up the UK's regions.

FutureGov will be working as part of a multidisciplinary consortium to deliver this project, alongside other leading organisations led by Arup and including Copper Consultancy, Grant Thornton UK LLP and The Nichols Group. FutureGov's role as town partner will be to harness the passion of the public and support the 100 towns to create better links, build a long-term, collective vision for sustainable change and better shape the future of their places. 

The contract signed between the consortium and MHCLG is for a 12-month period. FutureGov's share of this contract further underpins the Group's confidence in achieving its expectations for the current year.

The creation and delivery of the Towns Fund is a key part of the Government's 'levelling up' program, designed to support the regeneration of communities that have not benefited equally from UK growth. For FutureGov, supporting the Towns Fund means delivering on the company's mission to help organisations and communities build places fit for the internet, whilst contributing to the reduction of carbon emissions. This is in line with The Panoply Vision to deliver genuine change within our world to maximise the opportunities of the 21st century.

Neal Gandhi, CEO of The Panoply commented:

"FutureGov's inclusion in the Towns Fund programme demonstrates the reputation that the company has for delivering strategically important initiatives that go to the heart of the Government's policy agenda. We are seeing growing signs across the Group of the market rapidly moving towards the recovery phase and this contract is an example of the return to a more "business as usual" state of affairs."

Dominic Campbell, CEO of FutureGov commented:

"Joining this consortium to support over 100 towns across England is testament of our commitment to supporting public sector organisations and the communities they serve. Working with these towns we have an opportunity to focus on collaboration and working together in uncertainty, harnessing the passion of the public to shape the future of their places."

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About The Panoply

The Panoply is a digitally native technology-enabled services group, built to service clients' digital transformation needs. Founded in 2016, with the aim of identifying and acquiring best-of-breed specialist information technology, design and innovation consulting businesses across Europe, the Group collaborates with its clients to deliver the technology outcomes they're looking for at the pace that they expect and demand.

More information is available at www.thepanoply.com