Intermoco Limited (ASX: INT), is pleased to announce that the Company has entered into three further agreements for new Intermoco Connect Sites located in New South Wales and Victoria. The reference numbers for these sites are the reference numbers used in the Company’s Market Update dated 6 October 2011.
IC140
IC140 is a five year contract for embedded electricity network services at the innovative Pentridge Piazza development in Melbourne’s north.
Pentridge Piazza is part of what is acknowledged as one of Melbourne’s premier high density living environments, which has seen the redevelopment of the old Pentridge Prison and its extensive grounds. The five year contract value is $690,000.
Intermoco has previously provided a billing only service to this site and is pleased to have converted this site to a full Intermoco Connect Site. This conversion to Intermoco Connect is testament to the strength of the Intermoco service offering.
IC139
IC139 is a five year contract for embedded network services that has been entered into with a specialist in retirement living environments.
This contract is for Intermoco to provide and operate the full suite of Intermoco Connect embedded network services to a Retirement Village on the outskirts of Sydney. The five year contract value is $1.2 Million and will deliver related equipment sales and works of over $100,000.
This retirement village is a luxury retirement living environment of 200 plus units and is scheduled for completion in stages, with full completion expected in the last quarter of 2012. First revenue from this site is expected in first quarter 2012.
The developer has indicated that embedded network services will become an important part of their marketing campaigns for this and other upcoming developments.
IC138
IC138 is a five year contract for embedded electricity network services with a fast growing development company specialising in quality high rise residential and mixed use buildings.
This contract relates to a prestigious fourteen storey residential and commercial development, comprising fifty-five units in North Parramatta with a five year contract value of $300,000. The contract will deliver related equipment sales and works to the value of $25,000.
The development is in its final stages, due for completion in the first quarter 2012.
The developer has expressed the intentions of working with Intermoco in their future developments and sees the inclusion of embedded network services as an integral part of the planning.
Intermoco CEO Mr Ian Kiddle said: “We are pleased to be able to announce the completion of contracting of three new Embedded Networks, bringing to 11 the number of contracted sites. The different mix of developments represented by these new sites indicates the flexibility of our model and that it can be adapted to any type of tenanted development.”
The Company remains in discussions in relation to a series of further embedded network sites, and will continue to update the market as further details become available.