Business
SEA wins £25m contract with UK MoD
SEA wins £25m contract with UK MoD.
About this update from Cohort Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8472T\n Cohort PLC\n 29 March 2021\n \n \n \n \n \n \n \n One Waterside Drive\n \n \n Arlington Business Park\n \n \n Reading\n \n \n Berks\n \n \n RG7 4SW\n \n \n \n \n \n \n \n \n \n \n \n 29 March 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n COHORT PLC\n \n \n (\"Cohort\" or \"the Group\" or \"the Company\")\n \n \n \n \n \n Contract Wins \n \n \n \n \n \n SEA WINS £25M CONTRACT WITH UK MOD\n \n \n \n \n \n \n \n \n Cohort plc, the independent technology group, is pleased to announce that its subsidiary Systems Engineering & Assessment Limited (\"SEA\") has been awarded a new 10-year contract, with a value of approximately £25 million, for the management and upgrade of in-service sonar equipment for the UK Ministry of Defence (\"the MOD\"). The contract will be revenue generating from April 2021, with revenues spread evenly across the first seven years, tailing off in years seven to ten. \n \n \n \n \n \n Under the contract, won after a competitive tender, SEA will maintain the Royal Navy's in-service sonar equipment, a service that they have successfully provided for the past ten years. In addition, the new contract provides for certain upgrades to the equipment, ensuring the sonar systems remain operationally available and ready for service at all times. \n \n \n \n \n \n Andy Thomis, Cohort Chief Executive, said:\n \n \n \"This contract win clearly demonstrates SEA's strong capability in sonar systems and our enduring relationship with the MOD and the Royal Navy. Together with other recent contract wins across the Group, this contract further underpins our order book and enhances the visibility of future revenues.\"\n \n \n \n \n \n ENDS\n \n \n \n \n \n For further information, please contact:\n \n \n \n \n \n \n \n \n Cohort plc\n \n \n \n \n \n \n \n \n \n \n \n 0118 909 0390\n \n \n \n \n \n \n Andrew Thomis, Chief Executive\nSimon Walther, Finance Director \n \n \n Raquel McGrath, Company Secretary \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Investec Bank plc\n \n \n \n \n \n \n \n \n \n \n \n 020 7597 5970\n \n \n \n \n \n \n Daniel Adams / Christopher Bai...