17th Sep 2014 08:53
LONDON (Alliance News) - Pennant International Group PLC Wednesday said its Canadian subsidiary has won a services consulting contract, worth up to CAD7.9 million initially, from Public Works and Government Services Canada.
The provider of management services primarily for the defence, rail, aerospace and naval sectors said Pennant Canada Ltd, has been awarded a contract to provide a range of services to the Canadian Department of National Defence. The contract is for an initial two year period and allows for the services to be called upon on a "as and when required basis". There is also an option for the contract to be extended.
"There are three additional one year extension options in the contract, which if exercised will extend the period of the contract through to the 14th of September 2019 and raise the maximum value of the contract to CAD19.7 million," the company said in a statement.
Shares in Pennant were untraded Wednesday morning. The stock last traded at 85.00 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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