Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
T42 inks significant follow-on deal with customer
(Sharecast News) - T42 IoT Tracking Solutions announced a significant follow-up agreement with a prominent customer for supply chain monitoring on Monday. The AIM-traded firm said that under the agreement, the customer committed to ordering up to 30,000 'Lokies' units over the next three years, in addition to associated software-as-a-service (SaaS) fees.
It said the potential revenues stemming from the deal could exceed $7.5m for T42, although there was no certainty regarding the exact number or timing of unit orders or the resulting revenues.
The board said the agreement built upon an initial deal struck in January 2023, in which T42 delivered 2,000 'Lokies' tracking units alongside other products and services.
It said the proven effectiveness of 'Lokies' in safeguarding goods and ensuring the reliability of global deliveries led to the expanded partnership.
Additionally, T42 said it was in ongoing negotiations with holders of the 2021 unsecured convertible loan notes (CLN) to extend the maturity date and implement other amendments.
While the company said it believed that all CLN investors were supportive of the extension, the legal arrangements were taking longer than initially expected, with further updates to be provided as the agreement progressed.
"T42 is witnessing the tangible impact of its long-term efforts to integrate cutting-edge solutions within the supply chain industry," said chief executive officer Avi Hartmann.
"There is a notable global surge in interest for 'Lokies' and the associated comprehensive T42 solution, which is expected to be positively reflected in the company's financial results in 2024 and beyond."
At 1534 GMT, shares in T42 IoT Tracking Solutions were up 10.74% at 2.68p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
