T42 IOT TRACKING SOLUTIONS PLC — AGM Information 2021

Jul 15, 2021

National Storage Mechanism | Additional information

RNS Number : 3804F

Starcom PLC

15 July 2021

15 July 2021

Starcom plc

("Starcom" or the "Company")

AGM Statement

At the Company's Annual General Meeting at 11.00 a.m. BST today, the Chairman will make the following statement:

"Since we reported our annual results in March we have continued to be impacted by the Covid-19 pandemic, with many customers deferring their normal trading and others still in lockdown, although we have started to see increased activity from some customers and an uptick in our pipeline. At the same time, the global supply shortage of microprocessors and some other products is having a significant impact both for us and many other companies, as well as significant price rises in component parts, and some orders for customers have been delayed as a result. We are working hard to reduce the impact of these problems and find creative solutions. However, we are beginning to see increased interest in our Lokies and Tetis products and expect to see results from this in the second half of the year and thereafter. The recent award from DHL for our Lokies product as announced last month gives us confidence that this product should help drive further growth in our business over the next few years. It is also pleasing to note that our recurring SaaS revenues have continued at a good level during this difficult period.  

We expect to be able to publish financial results for the six months ended 30 June 2021 in the next month and we look forward to updating shareholders on our progress then. Present indications show unaudited revenues for that period of around $2million including $1m of SaaS revenues."

Enquiries:

Starcom Plc
Michael Rosenberg, Chairman	07785 727 595
Avi Hartmann, CEO	+972 5447 5663
Allenby Capital Limited (Nominated Adviser and Broker)	020 3328 5656
Jeremy Porter
Peterhouse Capital Limited (Joint Broker)	020 7469 0930
Lucy Williams / Charles Goodfellow / Eran Zucker

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