Provisional "Down Selection" on Major Programme

RNS Number : 3055X

Pennant International Group PLC

09 August 2018

 

FOR IMMEDIATE RELEASE                                                                                                9 August 2018         

PENNANT INTERNATIONAL GROUP PLC

Provisional 'Down-Selection' on Major Programme

Pennant International Group plc ("Pennant" or the "Group"), the AIM quoted supplier of integrated training and support solutions, products and services which train and assist engineers in the defence and regulated civilian sectors, is pleased to announce that it has been provisionally selected on a major programme, subject to contract.

The contract would involve Pennant designing, building and delivering training equipment to an undisclosed customer. The Group anticipates the contract value to be in the region of £25 million to £30 million, deliverable over 2019, 2020 and 2021. The opportunity remains subject to contract.

Assuming terms are agreed with the customer, the Group expects the contract to be formally awarded later this year.

This is a separate opportunity to that referred to in Pennant's announcement of 20 March 2018, upon which the Group expects to receive further clarity this quarter.

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Enquiries:

Pennant International Group plc	www.pennantplc.co.uk
Philip Walker, CEO David Clements, Commercial & Risk Director	[phone]
WH Ireland Limited	www.whirelandcb.com
Mike Coe / Ed Allsopp	[phone]
Walbrook PR (Financial PR)	[e-mail]
Paul Vann / Tom Cooper	[phone] Mob: [phone]

 

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