Photo-Scan gets on the buses

Deal to install security systems on London buses could mean revenues of more than 40m

Photo-Scan PLC said it has signed a long term partnership agreement with Crystal Eyes Ltd to supply, install and maintain security and information systems for buses in London and in other major cities. Photo-Scan shares jumped 20.2% to 110p.

Under the agreement, both companies will work together over the next five years to win orders for a minimum of 6,000 new installed systems on buses. This could generate revenues in excess of 40 mln stg for Photo-Scan.

Crystal Eyes is a private company formed to develop the systems capable of

providing comprehensive information and security for bus operators.

Under the deal, Photo-Scan will be the exclusive supplier for the

installation and maintenance of these systems over the next five years.

Photo-Scan receives unsolicited offer approach
AFX
Talks not exclusive

Photo-Scan PLC said it has recently received an unsolicited approach regarding a possible offer for the company, but has decided that it is inappropriate to progress those discussions on an exclusive basis. Its shares jumped 10.2% to 145p.

The board said it is now investigating the possibility that other potential strategic partners may be interested in acquiring Photo-Scan in order to accelerate the further development of the company through exploitation of the current market opportunities available.

The board said it remains committed to its long-term strategy of building shareholder value whether as an independent company or as part of a larger group.

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