ClearStar Gets Further Contract Extension From Undisclosed Customer

LONDON (Alliance News) - Background and medical screening services provider ClearStar Inc said ...

Alliance News 29 April, 2019 | 2:13PM
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LONDON (Alliance News) - Background and medical screening services provider ClearStar Inc said Monday that it has received a further contract extension from its previously-announced undisclosed customer for financial institution screening.

The new extension will generate around USD350,000 in revenue for the company over the next three months, and ClearStar expects to receive further orders in 2019. The contract was initially awarded in late 2018 and was extended earlier in 2019.

Under the contract, ClearStar provides screening for personnel placed with the customer's financial institution clients to ensure compliance with the US Federal Deposit Insurance Act, which governs the Federal Deposit Insurance Corporation and the banks insured by that organisation, and the US Patriot Act.

Shares in ClearStar were trading 2.6% lower at 57 pence each.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
ClearStar Inc 39.00 GBX 0.00 -

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