init innovation in traffic systems SE

Regulatory Filings • Dec 14, 2018

News Details

Ad-hoc | 14 December 2018 07:05

init innovation in traffic systems SE: San Diego intends to award electronic fare payment contract to init

init innovation in traffic systems SE / Key word(s): Contract/Incoming Orders

init innovation in traffic systems SE: San Diego intends to award electronic fare payment contract to init

14-Dec-2018 / 07:05 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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The San Diego Metropolitan Transit System (MTS) Board of Directors has authorized the CEO to contract with INIT Innovations in Transportation, Inc. – a wholly owned US subsidiary of init innovation in traffic systems SE (ISIN DE 0005759807) – for delivery and operation of an account based fare collection system. MTS is the public transit agency serving the urbanised areas of San Diego County as well as the rural parts of East County.

The contract is expected to be signed in beginning of 2019. After successful contract closure, init anticipates a total contract value of more than USD 30 million including a 10-year operation and maintenance option.

Contact:

Person making the notification:

Simone Fritz

Investor Relations

ir@initse.com

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14-Dec-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	init innovation in traffic systems SE
	Käppelestraße 4-10
	76131 Karlsruhe
	Germany
Phone:	+49 (0)721 6100 0
Fax:	+49 (0)721 6100 399
E-mail:	ir@initse.com
Internet:	www.initse.com
ISIN:	DE0005759807
WKN:	575980
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

End of Announcement	DGAP News Service