Business
New $20.5m Systems Contract
SRT Marine Systems PLC has secured a new $20.5 million contract with an existing sovereign customer, representing a follow-on order to expand the scope of a previously established system. This significant contract underscores the company's ability to meet evolving customer needs within its sovereign partnership program, demonstrating its role as a reliable surveillance system expert. The expansion highlights the customer's ambition to rapidly grow their maritime domain awareness capabilities, directly resulting in this additional business for SRT. Disclaimer*
About this update from Srt Marine Systems Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.\n \n \nSRT MARINE SYSTEMS PLC\n(AIM: SRT)\n(\"SRT\" or the \"Company\")\n \nNew $20.5m Systems Contract\nSRT Marine Systems plc ('SRT'), a global provider of intelligent maritime surveillance systems for sovereigns and maritime navigation safety systems is pleased to announce that it has signed a new contract worth $20.5m with an existing sovereign customer.\nThe new contract is a follow-on contract to expand the scope of the system.\nSimon Tucker, SRT CEO said: \"Under the banner of our sovereign partnership program we expect our customers' requirements to evolve and grow over time. SRT's role in the partnership is to be a steadfast and reliable surveillance system expert partner to our customer and meet that need promptly and efficiently. This is a great example of an ambitious customer who wishes to rapidly grow their MDA capabilities, resulting in follow-on business for SRT.\"\n\n\n\n\n\n For further information, please contact:\n\n\n\n\nSRT Marine Systems plc\n\n\nwww.srt-marine.com \n+ 44 (0) 1761 409500\n\n\n\n\nSimon Tucker (CEO)\n\n\[email protected]\n\n\n\n\nKevin Finn (Chairman)\n\n\[email protected] \n\n\n\n\nNora Alakshan (Corporate Communications Manager)\n\n\[email protected]\n\n\n\n\nCavendish Capital Markets Limited (NOMAD & Broker)\n\n\n\n\nJonny Franklin-Adams / Teddy Whiley (Corporate Finance)\n\n\n+44 (0) 20 7220 0500\n\n\n\n\nTim Redfern (Corporate Broking)\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 \nAbout SRT Marine Systems plc:\nSRT Marine Systems PLC is a global provider of civil defence maritime intelligence and surveillance systems and navigation safety and efficiency solutions. Our systems provide MDA intelligence that enable sovereign agencies such as Coast Guards and Fishery Authorities to adopt a new nationwide intelligence lead operations doctrine which is highly effective and efficient for maritime safety and security. Our navigation safety systems enable vessel operators to navigate digitally mor...