REG - Pennant Int. Group - GenFly Contract Update

Pennant InternationalAnnouncement

09/04/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250409:nRSI2056Ea&default-theme=true

RNS Number : 2056E  Pennant International Group PLC  09 April 2025

 FOR IMMEDIATE RELEASE
                                               09
April 2025

 

 

PENNANT INTERNATIONAL GROUP PLC

("Pennant", the "Company", the "Group")

 

GenFly Contract Update

 

Pennant International Group plc (AIM:PEN), the systems support software and
training solutions company, provides the following update further to the
announcement by the UK Ministry of Defence ("MOD"), on 23 October 2024, of an
intention to contract with Pennant for a comprehensive technology upgrade to
the RAF's GenFly training systems.

 

As the MOD's chosen supplier, Pennant has now received an 'Invitation to
Negotiate' from the MOD which commences the formal negotiation process
intended to lead to contract award.

 

The anticipated contract value remains as per the Company's announcement on 23
October 2024 (circa £4.9 million) and, subject to agreeing terms, Pennant
expects the contract to commence during Q3 2025. A further announcement will
be made once the contract is agreed and signed.

 

 

Enquiries:

 

 Pennant International Group plc                                       www.pennantplc.com (http://www.pennantplc.com/)
 David Clements, Company Secretary                                     +44 (0) 1452 714 914

 Zeus (Nomad)                                                           www.zeuscapital.co.uk (http://www.zeuscapital.co.uk/)

 Mike Coe / Darshan Patel (Investment Banking)                         +44 (0) 203 829 5000 (tel:+44%20203%20829%205000)

 Cavendish Capital Markets Limited (Broker)                            www.cavendish.com (http://www.cavendish.com/)
 Ben Jeynes / Callum Davidson / George Lawson (Corporate Finance)      +44 (0) 207 220 0500
 Michael Johnson / Dale Bellis / Sunila de Silva (Sales and Corporate
 Broking)

                                                                       pennant@walbrookpr.com (mailto:pennant@walbrookpr.com)

 Walbrook PR (Financial PR)
 Tom Cooper                                                            +44 (0)20 7933 8780

 Joe Walker                                                            Mob: +44 (0)7407 020 470

 

Notes to editors:

Pennant International Group plc (AIM: PEN) is a technology driven, leading
global provider of system support software and services, technical services,
and training solutions. It supports its global customer base in the design,
development, operation, maintenance, and training of complex assets, to
maximise operational and maintenance efficiency.

 

Its key markets include Aerospace, Defence and Rail, and adjacent
safety-critical markets such as Shipping, Nuclear and Space.

 

 The Group addresses the market through three key business segments:

 

•               Software: a key generator of recurring revenues
through the provision of a suite of software tools designed to help clients:
manage and use complex data; ensure equipment availability at optimal cost;
and comply with industry standards.  Its Integrated Product Support (IPS) and
Integrated Logistics Support (ILS) software and services equips customers with
powerful market-leading toolsets to manage, model and utilise complex
equipment data.

 

•               Technical Services: drives repeatable revenues
through expert support for users of Pennant and third-party solutions
including consultancy, support and maintenance, training and bespoke
development.

 

•               Training Systems: project-based revenues
relating to the design and build of hardware, software and virtual training
solutions for maintainers and operators of aircraft, ships and land systems.

 

Pennant is strategically focused on sustainable recurring and repeatable
revenues and profitability growth, shifting its model towards high margin
software and services. Against a climate of rising defence budgets and the
burgeoning technological complexity of military, aviation and rail platforms,
the demand for these solutions is expected to grow substantially.

 

Headquartered in Cheltenham, UK, the Group operates worldwide, with offices in
Europe, North America and Asia-Pacific, serving markets with high barriers to
entry often in regulated industries.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTIPMRTMTMMBBA