£40 million SRT-MDA System Project Contract Signed

RNS Number : 6130Z

SRT Marine Systems PLC

26 January 2022

 

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

£40 million SRT-MDA System Project Contract Signed

SRT Marine Systems plc ('SRT'), a global provider of next generation integrated maritime domain and coastal surveillance and monitoring systems for national coast guards and fishery authorities is pleased to announce that further to the announcement of receipt of notice of award on Thursday 6^th January 2022, that on Tuesday 25^th January 2022, the Company signed the formal contract with its customer, thereby officially commencing the delivery of the first phase of the project. 

Simon Tucker, CEO of SRT Marine Systems, commented:

" I am very pleased to be announcing the signing and commencement of the first phase of this £40m SRT-MDA System project. Our project delivery team and in-country partner are well prepared and implementation will therefore commence immediately. This is an important new customer for SRT and we expect that further contracts will follow as they build up their national maritime surveillance capabilities in the years to come."

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information, please contact:
SRT Marine Systems plc	www.srt-marine.com   + 44 (0) 1761 409500
Simon Tucker (CEO)	[e-mail]
Louise Coates (Marketing Manager)	[e-mail]
finnCap Ltd (NOMAD & Broker)
Jonny Franklin-Adams / Teddy Whiley (Corporate Finance)	[phone]
Tim Redfern / Charlotte Sutcliffe (ECM)

About SRT Marine Systems plc:

SRT Marine Systems PLC is a global company which develops and provides integratedmaritime surveillance, monitoring, management and safety systems used by coast guards, fishery authorities, infrastructure and vessel owners for the purposes of managing and controlling their maritime domain.  Applications include security, safety, search & rescue, law enforcement, fisheries management, illegal fishing detection and environment monitoring. 

 

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