REG - Pennant Int. Group - Business Update: New Contract Wins

Pennant InternationalAnnouncement

13/06/2023 07:00

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RNS Number : 4627C  Pennant International Group PLC  13 June 2023

 

 

 
 
                                      13
June 2023

 

PENNANT INTERNATIONAL GROUP PLC

 

Business Update: New Contract Wins

 

 

Pennant International Group plc (AIM:PEN), the IPS software and services
company, is pleased to report further progress as it implements its new
business model, with the following new orders secured :

 

·      a contract on an Australian defence programme, to supply software
solutions and technical services worth AUD$5.2 million over five years;

 

·      an upgrade on an existing Australian contract to provide
specialist facilities and services worth AUD$1.2 million over five years;

 

·      a £250,000 perpetual software licence to a European defence
department;

 

·      a contract for technical railway mapping services in the UK,
worth circa £130,000 this year.

 

The first order is particularly significant as it represents the first sale of
Pennant's new GenS software, which will be fully launched to market in early
2024.

 

GenS is the successor product to OmegaPS and is the next generation of
Integrated Product Support software - a Windows application, hosted on premise
or via the cloud, deployable on laptops or tablets, and which enables the
seamless management of equipment data across complex programmes.

 

Phil Walker, Group CEO commented: "These new contract wins demonstrate that
recent momentum has been maintained in building our new business model. It is
especially pleasing to secure the first sale of the new GenS solution."

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

Enquiries:

 

 Pennant International Group plc                     www.pennantplc.co.uk (http://www.pennantplc.co.uk)
 Philip Walker, CEO                                  +44 (0) 1452 714 914

 David Clements, Commercial & Risk Director

 Michael Brinson, CFO

 WH Ireland Limited (Nomad and Broker)                https://www.whirelandplc.com/capital-markets
                                                     (https://www.whirelandplc.com/capital-markets)
 Mike Coe / Sarah Mather (Corporate Finance)         +44 (0) 20 7220 1666
 Fraser Marshall / George Krokos (Sales)

 Walbrook PR (Financial PR)                          pennant@walbrookpr.com
 Paul Vann                                           +44 (0)20 7933 8780

 Joe Walker                                          Mob: +44 (0)7768 807631

 

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