8th Aug 2006 13:45
Cashbox PLC08 August 2006 Press Release 8 August 2006 Cashbox plc ("Cashbox" or "the Company") Agreement with Chevron Limited Cashbox plc (AIM:CBOX), the independent ATM deployer and operator, announcesthat it has signed an agreement to be the preferred supplier of internal ATMsfor the Texaco service station network whose brand rights are owned by ChevronLimited (NYSE:CVX). There are around 1,100 Texaco-branded petrol service stations across the UK allof which are now independently owned or operated. Following a competitiveselection process, Texaco has chosen Cashbox as an ATM partner with immediateeffect. The first promotional phase of the ATM programme to Texaco's retailer networkhas already commenced, initially involving 420 sites. Philip Minns, CategoryManager UK & Ireland of Texaco, has recently attended retailer meetings acrossthe UK and is actively promoting Cashbox as the ATM provider of choice forinternal machines. Commenting on the agreement, Phillip Minns said: "Being a Texaco-brandedretailer does not mean just signing a fuel supply agreement with us, it meanshaving access to a network of support and communication. This is our BrightHorizons strategy and we aim to form partnerships with like-minded,service-focussed companies. These partners will deliver added value to ourretailers by providing first class products and services. As such we arepleased to recommend Cashbox as our preferred internal ATM provider." Carl Thomas, Chief Executive of Cashbox plc, said: "We believe our freeplacement of ATMs not only delivers increased footfall to the petrol stationsthemselves but they increase customer retention and cash spend in the shop.Texaco is a nationally recognised name and this agreement will significantlyenhance our country-wide network. There continues to be a significant andgrowing demand for convenient cash and this agreement forms just a part of ourstrong pipeline of future ATM installations." - Ends - For further information: Cashbox plcCarl Thomas, Chief Executive Tel: +44 (0) 870 126 [email protected] www.cashboxplc.co.uk Seymour Pierce LimitedJeremy Porter, Corporate Finance Tel: +44 (0) 20 7107 8000 Media enquiries:AbchurchHenry Harrison-Topham / Gareth Mead Tel: +44 (0) 20 7398 [email protected] www.abchurch-group.com Notes to editors Cashbox plc Cashbox is a leading independent ATM deployer (IAD) with an estate of over 1,000ATMs in locations around the UK. The Company began trading in September 2003and was established by brothers Carl and Matt Thomas. Cashbox installs andoperates an estate of ATMs, typically on five to seven year contracts, at sitesthroughout the UK where there is a demand for cash withdrawal services and wherecustomers are willing to pay a convenience fee. Cashbox was granted membership of LINK in March 2004, allowing Cashbox toincorporate its ATMs in the LINK network. Cashbox also has a Bank of Englandsettlement account and became the first IAD in the UK to become completelycompliant with the Triple DES security standard in June 2004. Cashbox's sales strategy is based on selecting amongst three models to maximisethe profit potential of each ATM site - the Sale Model, the Placement Model andthe Fully Managed Model. The Company intends that the majority of newinstallations will use the Placement Model, whereby the ATM is purchased byCashbox under lease hire, placed with the merchant and replenished by themerchant, eliminating the need for third party cash handling costs. The Company listed on AIM in March 2006. Chevron Corporation Chevron is one of the world's leading energy companies. With more than 53,000employees, Chevron subsidiaries conduct business in approximately 180 countriesaround the world, producing and transporting crude oil and natural gas, andrefining, marketing, and distributing fuels and other energy products. Chevronis based in San Ramon, California, USA. More information about Chevron isavailable at www.chevron.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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