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DTI GROUP LTD — Capital/Financing Update 2017
Jun 12, 2017
64790_rns_2017-06-12_3f5c11b8-f69d-4dbc-9332-50d6b37dd106.pdf
Capital/Financing Update
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ASX announcement
12 June 2017
Contract Update
DTI receives Letter of Intent for up to 576 new trains to be built in South Africa
DTI Group Ltd (ASX: DTI) ( DTI ) advises that it has received a Letter of Intent ( LOI ) from Gibela Rail Transport Consortium RF Pty Ltd (“ Gibela ”) for the supply of commuter communication systems for trains being delivered to the Passenger Rail Agency of South Africa (PRASA). The Gibela Consortium is majority owned and represented by Alstom Transport SA ( Alstom ) which is headquartered in France.
The LOI for the procurement contract includes the provision of systems on up to 576 new trains over 10 years valued at approximately €13 million (approximately $18 million).
The award of this LOI is a strong endorsement of DTI’s new products as well as its ability to deliver into global projects with significant scale. The Gibela project is the third major project awarded to DTI under the Alstom Framework Agreement announced in September 2016.
Contract execution, which is expected to occur in the third quarter of calendar 2017, is dependent on final negotiations including DTI establishing a presence in South Africa to support the project. DTI will provide further details to the market upon final contract execution.
For further information please contact Peter Tazewell, Chief Executive Officer on +61 8 9273 2905 or email [email protected]
About DTI Group
DTI provides sophisticated surveillance systems, solutions and services to the mobile security industry worldwide. DTI’s clients are transit agencies, transit operators, freight operators, law enforcement authorities and taxi organisations which utilise a range of professional products and services that encompass on-board recording equipment, fleet management systems, back-end mass storage and retrieval facilities and end-to-end managed services. Sales and project delivery is undertaken both by DTI directly and through its global partners’ network.
DTI is a recognised supplier to the mass transit surveillance market. Core technology development and system design activities are undertaken from the Company’s headquarters in Perth Australia.
DTI Group Ltd | ABN 15 069 791 091 31 Affleck Rd | Perth Airport WA 6105 T +61 8 9479 1195 | F +61 8 9479 1190