28th Jul 2014 09:59
LONDON (Alliance News) - APC Technology Group PLC said Monday it won an order worth GBP425,000 to install LED lighting at three buildings for a UK high street bank, while it also acquired a 10% interest in Open Energy Market Ltd.
APC said that it expects to complete the order during the remainder of the year and the "very early" part of the next year. It didn't name the bank.
Additionally, it has begun the delivery of LED lighting at a food and clothing retailer, which it also didn't name, for an order worth an initial GBP1 million that it announced earlier in July. It said that whilst it was too early to determine with certainty, it expects the majority of this order to be invoiced at the end of the current financial year or in very early September.
The value of this order is expected to increase when the full 500 stores have been surveyed, APC said. Its Minimise business remains in the final stages of negotiations with other customers which, if secured, would generate growth and reduce reliance on any one customer in the next financial year, APC said.
Meanwhile, APC said it acquired a 10% interest in Open Energy for GBP200,000. Open Energy is an autonomous online, energy procurement platform. It has an option to buy a further 15% interest at the same valuation over the next 12 to 18 months.
Shares in APC were trading up 7.1% at 34.55 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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