03/04/2012
ThinkSmart Limited today announced that it has
received notice that its warranty services contract with
Dick Smith and the Warranty Group will not be extended
beyond 7th April 2012.
As foreshadowed at the time of the recent full year results
announcement, the warranty services contract, which is not
core to ThinkSmart's strategy, was due to expire on 31
March 2012. In line with the company's previous
guidance the impact of the non renewal of this contract
will be approximately A$1.2m in NPAT for the remaining nine
months of 2012.
This notice is unrelated to ThinkSmart's primary
contract with Dick Smith for its core RentSmart products
which is scheduled for renewal in December 2014 and
contains no change of control provisions.
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