Preferred bidder for PAYG Tap Converter system

Tracsis (LSE: TRCS), a leading transport technology provider, is pleased to announce that Rail Settlement Plan Limited (trading as Rail Delivery Group* in the UK) has taken forward a proposal from iBlocks Limited (a subsidiary of Tracsis plc) to Preferred Bidder status for the procurement of a Pay As You Go (PAYG) Tap Converter system. When operational, the PAYG Tap Converter system aims to provide a reliable 'best fare' guarantee for consumers using PAYG ticketing services across GB rail.

At this point, negotiations remain on a non-exclusive basis and there is no guarantee that a final contract will be awarded. Any final contract award will only be made after concluding contract negotiations and confirmation of funding from the Government.

*The Rail Delivery Group is a membership organisation that works on behalf of the UK rail industry to create a simpler, better railway. Its members are the Train Operating Companies that make up the rail industry across Britain.