News
Contract with Wadworth
16 June 2006
Cashbox plc (AIM:CBOX), the independent ATM deployer and operator, announces that it has signed a contract to be the exclusive supplier of ATMs for the pub estate of Wadworth and Company Ltd ("Wadworth").
Following a successful six month trial in Oxfordshire, Cashbox will now begin installing ATMs under the Company's Placement Model throughout Wadworth's managed estate of 40 premises. The first machine will be installed in the next fortnight and the full roll-out is expected to be completed in two months. Cashbox will also be available for Wadworth's 218 tenanted locations and will be negotiating with each location on a one-by-one basis.
Under the Placement Model, Cashbox retains ownership of the ATM, providing it for the Merchant's use. Cashbox retains a proportion of the gross Convenience Fee while the site owner takes responsibility for cash provision, cash replenishment (from their takings) and telecommunications.
Commenting on the agreement, Jo Skuse, Machine Controller of Wadworth, said: "Following a favourable trial of the Cashbox ATM programme Wadworth are pleased to confirm that we have now signed an ongoing contract for Cashbox to supply ATMs to our pub estate. We have been impressed with the service we have received to date from Cashbox and are looking forward to a long and mutually beneficial business relationship."
Carl Thomas, Chief Executive of Cashbox PLC, said: "We are delighted to have formed this relationship with Wadworth and look forward to working with the company going forward. We believe our free placement of ATMs not only delivers increased footfall to the pubs themselves but they increase customer retention and cash spend at the bar. There continues to be a significant and growing demand for convenient cash and Cashbox has a strong pipeline of future ATM installations."
For further information:
| Cashbox plc | |
| Carl Thomas, Chief Executive | Tel: +44 (0) 870 126 2274 |
| cthomas@Cashboxplc.co.uk |
| Wadworth | |
| Jo Skuse, Machine Controller | Tel: +44 (0) 1380 732 268 |
| joskuse@wadworth.co.uk | www.wadworth.co.uk |
| Seymour Pierce Limited | |
| Jeremy Porter, Corporate Finance | Tel: +44 (0) 20 7107 8000 |
| jeremyporter@seymourpierce.com | www.seymourpierce.com |
Media enquiries:
| Threadneedle Communications | |
| Josh Royston/Graham Herring | Tel: +44 (0) 20 7936 9606 |
Notes to Editors
Cashbox plc
Cashbox is a leading independent ATM deployer (IAD) with an estate of over 1,000 ATMs in locations around the UK. The Company began trading in September 2003 and was established by brothers Carl and Matt Thomas. Cashbox installs and operates an estate of ATMs, typically on five to seven year contracts, at sites throughout the UK where there is a demand for cash withdrawal services and where customers are willing to pay a convenience fee.
Cashbox was granted membership of LINK in March 2004, allowing Cashbox to incorporate its ATMs in the LINK network. Cashbox also has a Bank of England settlement account and became the first IAD in the UK to become completely compliant with the Triple DES security standard in June 2004.
Cashbox's sales strategy is based on selecting amongst three models to maximise the profit potential of each ATM site - the Sale Model, the Placement Model and the Fully Managed Model. The Company intends that the majority of new installations will use the Placement Model, whereby the ATM is purchased by Cashbox under lease hire, placed with the merchant and replenished by the merchant, eliminating the need for third party cash handling costs.
The Company listed on AIM in March 2006.
Wadworth & Company Ltd Founded in 1875, Wadworth and Company Limited, of Devizes in Wiltshire, is a traditional brewer of beers. The Northgate Brewery was designed and built by Henry Wadworth in 1885, and is still run as a family business by his descendants.
Wadworth now has an estate of over 200 tenanted pubs within the Wiltshire, Hampshire, Somerset borders which vary from compact community pubs, town centre houses and classic country inns.
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