Share registry and shareholder communications company Computershare has branched into a new area, winning the contract to maintain a “safety list” for the British Council for Registration of Gas Industries.
Shares in the 26-year-old Australian company shot up 14 ¢ to $3.93 yesterday on news that it had won the contract to keep a list of domestic gas installations by registered gas installers in Britain, Northern Ireland and the Isle of Man. A year ago, stock in Computershare was trading at $2.64.
A spokesman for Computershare said yesterday the company could not provide financial details on the deal because of confidentiality clauses in the contract with CORGI.
But he said Computershare would use its share registry technology to maintain the gas industry list, which starts on April 1 next year.
He said the broad application of registry maintenance technology was a focal point for the company as it continued its hunt for acquisitions.
Under the CORGI deal, Computershare expects to receive 870,000 phone calls in the first year and provide 1.25 million safety certificates to people who have gas appliances installed in their homes.
In future in Britain, home owners must provide the certificates when they sell their houses.
“It is expected that the volume will grow year on year as the Government considers extending the scheme to cover all gas servicing, maintenance and pipe work on residential and non-residential buildings,” Computershare said
From The Age, Australia