First Sales of New Land Based Mobile Gun System

RNS Number : 6810K

MS International PLC

23 December 2022

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018

23 December 2022

MS INTERNATIONAL plc

(the "Company")

First Sales of New Land Based Mobile Gun System

In the Company's half year results for the period ended 31^st October 2022, we made reference to our continuing development of new military products and that during the period, we launched our first land based mobile gun system incorporating our unique 'counter-drone' capability, that had already attracted considerable attention in the international market.

Further to this update, we are pleased to announce that we have signed a contract with an overseas customer to supply in 2023 a number of land based mobile gun systems, which are aptly named MSI-DS TERRAHAWK VSHORAD dual feed weapon systems - mobile air defence. The total contract value to the Company is £22.4 million and we are aiming to fulfil the contract as soon as practicable. Revenues under the contract are expected to be recognised during the 2023 calendar year. This contract represents the Company's first sales of this new gun system.

For further information please contact:

MS INTERNATIONAL plc      Tel : [phone]

Michael Bell

Shore Capital

Nomad and Broker                                                                                       Tel: [phone]
Patrick Castle/Daniel Bush

 

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