SaaS licensing renewal

This is a Reach (i.e. non-regulatory) announcement and the information contained is not considered to be material or to have a significant impact on management's expectations of the Company's performance

SaaS licensing renewal

Petards, the AIM quoted developer of advanced security, communication and surveillance systems, announces that its subsidiary, RTS Solutions (UK), has received an order for the renewal of SaaS licenses for its rail focussed software applications.

The order is from a leading supplier to the UK rail industry, and renews the customer's licenses for RTS's work, resource and asset management SaaS applications for a further two years. This renewal is worth £360,000 over the two year period, with further smaller supplementary orders for licenses and other work expected to follow.

Commenting on the award, Raschid Abdullah, Chairman of Petards Group plc said:

"We are delighted to have secured this license renewal from such a important customer and the award adds to RTS's order book and provides it with a strong core of recurring revenues for the current and following years."

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