27 May 2020
(“Tracsis” or the “Group”)
Change of Auditor
Tracsis is a leading provider of software, hardware and services for the rail, traffic data and wider transport industries, and is pleased to announce that following the conclusion of a tender process overseen by the Group’s audit committee, the Group has appointed Grant Thornton UK LLP (“Grant Thornton”) as its independent auditor for the financial year ending 31 July 2020. The appointment of Grant Thornton as auditor for the financial year ended 31 July 2021 will be subject to approval by the shareholders at the next Annual General Meeting due to be held in January 2021.
The Group’s previous auditor, KPMG LLP (“KPMG”), has confirmed that it is not aware of any circumstances connected with its termination as auditor that it considers should be brought to the attention of the Board, creditors or shareholders of the Group. The Board of Tracsis would like to thank KPMG for their services for the past ten years, since their appointment in 2010.
Tracsis plc Tel: 0845 125 9162
Chris Barnes, CEO
Max Cawthra, CFO
finnCap Ltd Tel: 020 7220 0500
Christopher Raggett/Charlie Beeson, Corporate Finance
Andrew Burdis, Corporate Broking
Notes to editors:
· Tracsis plc is a technology company and a leading provider of software and hardware products, data capture and data analytic services for the rail, traffic data and wider transport industries.
· Tracsis’ products and services are widely used to increase efficiency, reduce cost and risk and improve operational and asset performance, safety management and decision making capabilities for clients and customers.
· The Group is split into two principle operating areas built around detailed industry knowledge and expertise:
- Rail Technology & Services: Software and technology led business supported by consultancy. Develops remote condition monitoring hardware and safety, productivity improvement, risk management and data acquisition software for rail infrastructure providers and software that solves complex resource, asset optimisation and control problems for Train Operators.
- Traffic & Data Services: A largely services led business that focuses on data capture, data analytics, data insights and event traffic management within transport and pedestrian rich environments. The business provides technology and data that underpins large scale intelligent transport system and smart city planning and decision making.
· Tracsis has a blue-chip client base which includes all major UK transport owning Groups. The business also works extensively with Network Rail, the Department of Transport, TfL, multiple local authorities, major outdoor music and sporting event organisers, and a wide variety of large engineering and infrastructure companies.
· The business drives growth both organically and through acquisition and has made fourteen acquisitions since 2008.
· For more information on Tracsis please visit http://www.tracsis.com