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Pennant Int. Group (PEN)

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Thursday 09 August, 2018

Pennant Int. Group

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 

+44 (0) 1452 714 914

 

 

WH Ireland Limited

www.whirelandcb.com

Mike Coe / Ed Allsopp

+44 (0) 117 945 3470

 

 

Walbrook PR (Financial PR)

[email protected]

Paul Vann / Tom Cooper

+44 (0)20 7933 8780

Mob: +44 (0)7768 807631

 


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