Possible disposal of Maritime Engineering business

13 January 2021

TP Group plc

("TP Group", "the "Company" or the "Group")

Possible disposal of Maritime Engineering business

TP Group (AIM: TPG), the provider of mission-critical solutions for a more secure world, notes that it has received expressions of interest for the Group's Maritime Engineering business (TPG Maritime Limited) based in Portsmouth, which includes manufacturing facilities and technologies to support mission-critical equipment for submarines and other applications. In light of such interest, the board has appointed advisers to review these opportunities and consider the strategic options for the Group's engineering business.

There can be no certainty at this stage that a formal agreement will be reached, nor as to the terms of any agreement. A further announcement will be made if and when appropriate.

Any disposal by the Group would be in-line with the Company's strategy to focus on delivering consulting, digital solutions, advanced-technology, and bespoke engineering to critical programmes in the global defence, space and energy sectors. 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

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Notes to Editors

TP Group delivers complex equipment, software and services for mission-, business- and safety critical applications in defence, space, intelligence & security and energy sectors. With more than 400 people in 6 European countries, it serves global customers through long-term contracts. The Group's shares have been traded on AIM since July 2001.