AVA (ASX) Ann: Additional Information on Supply Agreement with Telstra

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Mango22

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09/02/24

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Post #: 72327121
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Ava Risk Group Limited (ASX: AVA) ('Ava Risk Group' or 'the Company') provides the following additional information relating to the supply agreement signed with Telstra Group which was announced on 9 February 2024.

The initial term of the contract is for a period of 2 years with options for one or more further periods beyond the initial term.

Under the agreement, Ava has agreed to supply Telstra with products from each of its business segments, including Detect, Access and Illuminate. Product details are contained on our website. Ava believes that the substantive opportunity is within the Detect range of products, primarily our Aura-Ai-X flagship product.

The agreement sets out the products, pricing and service levels associated with any goods or services that Ava Risk Group provides to Telstra Group.

There are no pre-requisite conditions before Telstra becomes legally bound to proceed with the contract. Other considerations include:

The agreement is material to Ava Risk Group and consistent with its disclosure obligations, as it is the first supply agreement that Ava Risk Group has signed with a telecommunications provider.

The Company has made previous disclosures of its strategy of deploying its technology to adjacent applications, including the following statement made by CEO Mal Maginnis in his address to the Company’s Annual General Meeting on 26 October 2023:

“We also continue to focus on adapting our technology and solutions to adjacent applications. We have conducted a number of pilot programs with key partners and I am optimistic about sharing further news on this in the near future as these opportunities mature.”

The announcement of an agreement with Telstra Group informs the market of the progress that the Company has made in developing adjacent applications and is a material consideration for investors. The successful completion of trials with Telstra Group, as disclosed in the announcement, demonstrate the success that the Company has had in deploying its technology to existing fibre networks for a major telecommunications provider.

The agreement does not have a contract value nor does it commit Telstra Group to purchase minimum quantities of goods or services from Ava Risk Group.

Approved for release by the Board of Directors.

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Last edited by Mango22: 09/02/24

AVA Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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Last 9.4¢		Change -0.001(1.05%)		Mkt cap ! $27.27M

Open	High	Low	Value	Volume
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No.	Vol.	Price($)
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