REG - Filtronic PLC - Contract Win

FiltronicAnnouncement

23/07/2024 07:00

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RNS Number : 3643X  Filtronic PLC  23 July 2024

 

23 July 2024

Filtronic plc

("Filtronic")

 

CONTRACT WIN

 

$9m contract win from SpaceX and vesting of share warrants

 

Filtronic plc (AIM: FTC), the designer and manufacturer of products for the
aerospace, defence, telecoms infrastructure and critical communications
markets, is pleased to announce the receipt of a follow-on production order
from SpaceX.

 

The order is irrevocable, valued at $9m (£7.1m), and represents a
continuation of demand for the E-band solid state power amplifier ("SSPA")
modules to support the ongoing deployment of SpaceX's Starlink constellation
which provides high-speed, low-latency high-speed internet to users all around
the world. It is anticipated the order will be fulfilled in the current
financial year.

 

The order has been placed under the framework of the Strategic Partnership,
signed in April 2024, with the vesting of a further 2,171,211 share warrants.
Under the terms of the agreement, as disclosed in the announcement on 24 April
2024, the Company issued two separate tranches of warrants with this vesting
of warrants being part of tranche 1. Tranche 1 relates to the supply of E-band
SSPAs with a total of 8,684,844 share warrants now vested to date,
representing 4%, of the maximum 5%, of Company's share capital at the time of
the signed agreement.

 

Nat Edington, Chief Executive Officer, said: "We are delighted to receive this
further order from our partner, SpaceX, as we continue to support the rollout
of the Starlink constellation. The order demonstrates the continued
significant role we are playing in helping SpaceX achieve their mission."

 

 

Enquiries:

 Filtronic plc                                                         Tel. 01740 618800 or investor.relations@filtronic.com
                                                                       (mailto:investor.relations@filtronic.com)
 Nat Edington (Chief Executive Officer)
 Michael Tyerman (Chief Financial Officer)

 Cavendish Capital Markets Limited                                     Tel. 020 7220 0500
 Jonny Franklin-Adams/George Dollemore (Corporate Finance)
 Sunila de Silva (ECM)

 Walbrook PR Limited                                                   Tel. 020 7933 8780 or filtronic@walbrookpr.com
                                                                       (mailto:filtronic@walbrookpr.com)
 Nick Rome/Jospeh Walker

 

Note: This announcement contains inside information which is disclosed in
accordance with the Market Abuse Regulation.

 

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