Award of Contract

RNS Number : 0144W

Infrastrata PLC

06 December 2019

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

6 December 2019

InfraStrata plc

("InfraStrata" or the "Company")

Award of Contract

InfraStrata plc (AIM: INFA), the UK quoted company focused on strategic infrastructure projects and physical asset life-cycle management, is pleased to announce that its wholly owned subsidiary, Harland and Wolff (Belfast) Limited ("Harland & Wolff"), has been awarded a contract for dockings of two vessels for their owners to carry out their annual inspections and maintenance. The contract commences from 20 December 2019 and will continue until the dockings are completed in January 2020. This is an important milestone and signifies the first ever operating revenues for the Company. It also provides the ideal platform for Harland & Wolff to strengthen its operational capabilities in readiness for larger projects in the future. 

John Wood, Interim Chairman and CEO of the Company commented: 

"The award of this contract is a crucial milestone in the life-cycle of the Company. The Board committed to being revenue generating in 2019 and has now fulfilled that commitment to shareholders. The fact that the completion of the acquisition of the assets of Harland and Wolff was immediately followed by a revenue generating contract validates this acquisition. This is the beginning of a transformational shift in the Company's position to being revenue generative and ultimately cash-positive in the future."

For further information, please visit www.infrastrataplc.com or contact:

InfraStrata plc John Wood, Chief Executive & Interim Chairman	c/o Newgate Communications [phone]
Allenby Capital Limited (AIM Nominated Adviser & Joint Broker) Jeremy Porter / Liz Kirchner	[phone]
Arden Partners plc (Joint Broker) Paul Shackleton / Dan Gee-Summons (Corporate Finance) Simon Johnson (Corporate Broking)	[phone]
Newgate Communications (PR) Elisabeth Cowell / Ian Silvera/ Jamie WIlliams	[phone]

 

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