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SERVICE STREAM LIMITED — Capital/Financing Update 2019
Mar 11, 2019
65865_rns_2019-03-11_3294cb55-b706-4341-b06d-db8a91da25c0.pdf
Capital/Financing Update
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ASX & MEDIA RELEASE
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12 March 2019
Service Stream secures a two-year extension to its Wireless Design and Construction Agreement with Vodafone
Leading essential network services company Service Stream Limited (ASX: SSM) is pleased to announce that it has secured a two-year extension to its contract with Vodafone Hutchison Australia (Vodafone) for the provision of wireless design and construction services. The contract, most recently re-signed in March 2017, included an initial two-year term which was followed by a two-year extension at Vodafone’s election.
The agreement will see Service Stream continue to partner with Vodafone as a national provider of services associated with the design and construction of both existing and new wireless infrastructure across Australia.
Whilst the agreement does not provide guaranteed volumes, Service Stream estimates its value based on historical revenues to be in the order of $40 million over the additional two-year term.
Service Stream’s Managing Director, Leigh Mackender, said “We are very pleased to secure the additional two-year term on our existing wireless design and construction agreement with Vodafone, further strengthening what has become a long-term relationship between our companies over 15 years. Service Stream looks forward to continuing to work closely with Vodafone in support of its infrastructure programs across the country at a time where demand for wireless telecommunication infrastructure (including new 5G technologies) continues to increase.”
For further details contact:
Service Stream Limited
Leigh Mackender, Managing Director Tel: +61 3 9677 8817
Service Stream Limited
Bob Grant, Chief Financial Officer Tel: +61 3 9677 8817
About Service Stream Limited:
Service Stream is a public company listed on the Australian Securities Exchange (Code: SSM). The Service Stream Group is a provider of essential network services to the telecommunications and utility sectors. Service Stream operates across all states and territories, has a workforce in excess of 2,200 employees and access to a pool of over 3,000 specialist contractors. For more information please visit www.servicestream.com.au.
SERVICE STREAM LIMITED ABN 46 072 369 870
HEAD OFFICE Level 4, 357 Collins Street, Melbourne Vic 3000 | Mailing Address: PO Box 14570 Melbourne VIC 8001 T +61 3 9677 8888 | F +61 3 9677 8877 | E [email protected] | www.servicestream.com.au