5th Aug 2016 11:45
5 August 2016
This announcement contains inside information
TP Group plc
("TP Group" or the "Company")
Contract update
TP Group (AIM: TPG), the specialist technology, engineering and managed solutions group, today confirms that the UK Ministry of Defence (MoD) has issued a Voluntary Ex-Ante Transparency Notice detailing its intention to negotiate a sole source contract with TPG Maritime, a wholly owned subsidiary of TP Group, for the provision of a number of Combined Oxygen Generating Systems (COGS) and COGS system upgrades for UK submarines.
The contract, if awarded, is estimated to be worth circa £22.6 million over approximately 8 years, starting in 2017. This announcement signifies the intention of the MoD to negotiate the aforementioned contract but does not constitute a firm order at this time.
For further information, please contact:
TP Group plc Phil Cartmell, Chief Executive Officer Derren Stroud, Chief Financial Officer www.tpgroup.uk.com | Tel: 01753 285 810 |
Cenkos Stephen Keys / Mark Connelly www.cenkos.com | Tel: 020 7397 8980 |
Vigo Communications Jeremy Garcia / Fiona Henson www.vigocomms.com | Tel : 020 7830 9700 |
NOTES TO EDITORS
TP Group is a group of innovative UK based engineering companies, supplying technologies and support to global markets. TP Group designs and develops advanced technologies; engineers complex equipment and systems; and provides support throughout their operational life. The Company's shares have been traded on the AIM market since July 2001.
Related Shares:
TPG.L