Pennant International Group PLC Contract Update (6127F)
March 10 2020 - 8:00AM
UK Regulatory
TIDMPEN
RNS Number : 6127F
Pennant International Group PLC
10 March 2020
10 March 2020
PENNANT INTERNATIONAL GROUP PLC
Contract Update
Pennant International Group plc ("Pennant", the "Group", or the
"Company"), the AIM quoted supplier of integrated training and
support solutions, products and services which train and assist
operators and maintainers in the defence and regulated civilian
sectors, is pleased to provide an update on a key contract.
In its announcement of 9 August 2019, the Company noted that it
was in the process of responding to a customer request for changes
to its contract for the design and build of a set of
electro-mechanical maintenance trainers for a UK armoured vehicle
programme.
The scope and key terms of this contract amendment have now been
agreed as expected with the customer. Formal execution of the
amendment is anticipated to occur within the next two months. The
price for the contract will increase by GBP1.5 million (to circa
GBP13.5 million) of which circa GBP5 million remains to be
recognised over 2020 and 2021.
Enquiries:
Pennant International Group plc www.pennantplc.co.uk
Philip Walker, CEO
David Clements, Commercial &
Risk Director +44 (0) 1452 714 914
WH Ireland Limited (Nomad and www.whirelandcb.com
Broker)
Mike Coe
Chris Savidge +44 (0) 117 945 3470
Walbrook PR (Financial PR) paul.vann@walbrookpr.com
Paul Vann +44 (0)20 7933 8780
Tom Cooper Mob: +44 (0)7768 807631
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END
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