Contract Extension

Petards Group PLC

14 February 2024

 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

14 February 2024

 

 

PETARDS GROUP PLC

 ("Petards")

Contract Extension

Petards, the AIM quoted developer of advanced security and surveillance systems, announces that a key customer has extended an existing contract for the provision of software licences, maintenance and support services.

This extension, secured by Petards' subsidiary RTS Solutions (RTS), is effective from June 2024 and runs until June 2025, the value of which is over £0.3 million.

Under the terms of the contract RTS will continue to provide software licences, maintenance and third line support in respect of its real time failure and incident management system that supports the UK's rail infrastructure.

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

"We are pleased to have secured this contract extension for this important safety-related software application which RTS has delivered for many years.

"This award adds to RTS's order book and supports its strong core of recurring revenues for the current and following year."

Contacts:

Petards Group plc	www.petards.com
Raschid Abdullah, Chairman	Mb:  07768 905004
WH Ireland Limited, Nomad and Joint Broker	https://www.whirelandplc.com/capital-markets
Mike Coe, Sarah Mather	Tel:  [phone]
Hybridan LLP, Joint Broker	www.hybridan.com
Claire Louise Noyce	Tel:  [phone] [e-mail]

 

END