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One Waterside Drive
Arlington Business Park
Reading
Berks
RG7 4SW
26 March 2024
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COHORT PLC
("Cohort", "the Company" or
"the Group")
SEA Awarded £135m Royal Navy
Countermeasures Contract
Cohort, the Independent Technology
Group, is pleased to announce that its subsidiary Systems
Engineering and Assessment Ltd (SEA) has been awarded a contract by
the UK's Ministry of Defence to provide Electronic Warfare
Countermeasures Increment 1a (EWCM 1a) to the Royal
Navy.
The scope of work will include the
provision and support of SEA's Trainable Decoy Launcher System,
known as Ancilia, which also incorporates technology and hardware
from Cohort's business Chess Dynamics Ltd. The total value of the
contract to SEA is to be at least £135m. Work will commence
immediately and is expected to continue for more than ten years.
The contract includes a number of options which may increase its
value and the period over which it will be delivered, subject to
future decisions by the customer. Together with other recent order
wins, the contract is expected to materially enhance the Group's
earnings.
Ancilia delivers effective and rapid
protection against modern anti-ship threats and sophisticated
systems and tactics. It will be installed across a range of the
Royal Navy's surface ships. Its design builds on SEA's deep
knowledge of existing systems in service with the Royal
Navy.
Andy
Thomis, Cohort Chief Executive, said:
"This is a significant win for SEA and the Group, and the
project will deliver greatly enhanced protection for the Royal
Navy's surface ships against new and potent threat
technologies.
"It
represents a real vote of confidence in Ancilia, a fully UK
designed and built solution, for which we see encouraging export
prospects.
"Over the life of the project, we estimate it will sustain
employment for 150 skilled and professional people in North Devon,
and export success could see this increase further
still."
Andy Thomis, Chief Executive, and
Simon Walther, Finance Director, will host a short presentation for
analysts and investors on Tuesday 26 March at 3:00pm. To join
please follow the link here: https://brrmedia.news/CHRT_MA.
ENDS
For
further information please contact:
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Cohort plc
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0118
909 0390
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Andrew Thomis, Chief
Executive
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Simon Walther, Finance
Director
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Emily McBride, Group Head of
Marketing and Corporate Communications
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Raquel McGrath, Company
Secretary
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Investec Bank Plc (NOMAD and Broker)
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020
7597 5970
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Carlton Nelson, Christopher
Baird
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MHP
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020
3128 8100
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Reg Hoare, Ollie Hoare, Hugo
Harris
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cohort@mhpgroup.com
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NOTES TO
EDITORS
Cohort plc (www.cohortplc.com)
is the parent company of six innovative, agile and
responsive businesses based in
the UK, Germany and Portugal, providing a wide
range of services and products for domestic and export customers in
defence and related markets.
Cohort (AIM: CHRT) was admitted
to London's Alternative Investment Market in March 2006.
It has headquarters in Reading, Berkshire and
employs in total over 1,250 core staff there and at its other
operating company sites across the UK, Germany,
and Portugal.
The group is split into two segments
- Communications and
Intelligence, and Sensors and Effectors:
Communications and Intelligence
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EID designs and manufactures advanced
communications systems for naval and military customers. Cohort
acquired a majority stake in June 2016. www.eid.pt
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MASS is a specialist data technology
company serving the defence and security markets, focused on
electronic warfare, digital services, and training support.
Acquired by Cohort in August 2006. www.mass.co.uk
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MCL designs, sources, and supports
advanced electronic and surveillance technology
for UK end users including the MOD and other government
agencies. MCL has been part of the Group since July
2014. www.marlboroughcomms.com
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Sensors and Effectors
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· Chess Dynamics offers surveillance, tracking and fire-control
systems to the defence and security markets. Chess has been part of
the Group since December 2018. www.chess-dynamics.com
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ELAC SONAR supplies advanced sonar
systems and underwater communications to global customers in the
naval marketplace. Acquired by Cohort in December
2020. www.elac-sonar.de
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SEA delivers and supports
technology-based products for the defence and transport markets
alongside specialist research and training services. Acquired
by Cohort in October 2007. www.sea.co.uk
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Note: No statement in this announcement is intended as a
profit forecast, profit estimate or quantified benefits statement
for any period and no statement in this announcement should be
interpreted to mean that earnings or earnings per share for Cohort
for the current or future financial years would necessarily match
or exceed the historical published earnings or earnings per share
for Cohort.