SRT signs MDM contract

RNS Number : 9505A

SRT Marine Systems PLC

30 March 2017

 

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

SRT signs MDM contract

SRT Marine Systems plc is pleased to announce that it has entered into a contract to deliver a national MDM system for a Middle East country.

The system will enable continuous real time identification, tracking and monitoring of many thousands of leisure and commercial vessels operating in their territorial waters and EEZ using SRT's AIS vessel transceivers and maritime monitoring systems.

The system is expected to be completed within two years.

Simon Tucker, SRT ‎CEO said, "This marks the conversion of another of our validated sales opportunity pipeline prospects into a signed contract. This is due to SRT's ability to deliver turn-key maritime domain awareness system solutions with proven performance and unique functionality. This MDM system will provide multiple end customer marine stakeholders with a range of functionality such as dual 2D and Dynamic-3D real time visualisation, advanced data analytics with automated vessel activity alerts, and vessel licensing and management functions that will enable them to significantly enhance maritime security, management and safety."

ENDS

Contacts:
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
Jonny Franklin-Adams / Simon Hicks (Corporate Finance)		[phone]
Emily Morris / Camille Gochez (Corporate Broking)

About SRT Marine Systems plc:

SRT develops, manufactures and supplies maritime tracking technology and turn-key system solutions to marine stakeholders across the globe with a particular expertise in AIS. The Company's products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards and national security agencies to enhance their maritime domain awareness. Applications include the tracking of commercial and leisure vessels; sustainable fishery; anti-collision; search and rescue; waterway management, port and coast security; pollution management; and environmental management.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

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