MedservRegis plc - Tanzania tender unsuccessful

On 18 July, Medserv plc issued an update with respect to the company announcement dated 15 July 2013 which referred to a tender made by the Company in partnership with an international company for a contract to operate a base for the oil industry in Tanzania.

Today’s announcement revealed that this contract has now been awarded to a competitor. The announcement explained that out of a substantial number of original bidders, the final decision lay between the Company’s bid and that of the eventual winner. Furthermore, no potential revenue from this contract was included in the Company’s forecasts or budgets which remain unaffected.

This tender, although unsuccessful in its final outcome, demonstrated to the Company that it can compete successfully in the context of an international tender process in new territories. Medserv has been informed that all technical requirements were met despite it not being selected as the preferred  bidder. This was the Company’s first tender in the region and the positive experience will assist in driving future business expansion plans.