Nedlands-based LED pixel signage company Lumacom Ltd subsidiary Vertigo Group Ltd will supply 200 notice boards to schools throughout Shanghai province in an deal worth $770,000.
The deal was signed with Bermuda-based Visdom Media and Advertising Ltd, chaired by Lumacom board member John Dollisson, which has acquired media ownership and development rights to real estate assets located throughout China for the purposes of outdoor advertising.
The full text of a company announcement is pasted below
Vertigo Signs Initial Supply Contract with Campus Media Group
Lumacom is pleased to announce that it's wholly owned subsidiary Vertigo Group Limited ("Vertigo") has secured a contract with Visdom Media and Advertising Limited ("Visdom") for the initial supply of 200 notice boards to schools throughout the Shanghai Province.
The Notice Boards provide information to students and teachers at the primary, secondary and tertiary schools in Shanghai and include an LED for schools use. They also incorporate a 6 sheet back lit international advertising panel. The boards are aluminium and made to international standards. The advertising market for these boards is substantial given the demographic it targets.
The initial contract is for $A770,000 ($US600,000) for the supply of the 200 units however the Visdom business model targets an eventual roll out of over 10,000 units to schools in the nine largest provinces in China representing a population of over 68 million people for an expenditure of over $A40m ($US30m) over the next 5 years.Vertigo is the preferred supplier for the project and has been actively involved in the design, manufacture and installation of proto-types for the project since its inception.
The initial batch of 60 units will be manufactured and installed over the next 2 months and the balance of the 140 units in a batch of 60 units and then 80 units. Visdom is associated with John Dollisson, a non-executive director of Lumacom Limited.
The Chairman Mr Ingram stated "this contract is exciting as it creates the potential for Vertigo to procure up to $40m in work over the next 5 years. This opportunity is an example of the Vertigo business's position to scale quickly in the burgeoning China market."
