REG - Petards Group PLC - Contract Extension

PetardsAnnouncement

14/02/2024 07:00

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RNS Number : 0245D  Petards Group PLC  14 February 2024

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.

 

14 February 2024
 
 
PETARDS GROUP PLC
 ("Petards")

 

Contract Extension

 

 

Petards, the AIM quoted developer of advanced security and surveillance
systems, announces that a key customer has extended an existing contract for
the provision of software licences, maintenance and support services.

 

This extension, secured by Petards' subsidiary RTS Solutions (RTS), is
effective from June 2024 and runs until June 2025, the value of which is over
£0.3 million.

 

Under the terms of the contract RTS will continue to provide software
licences, maintenance and third line support in respect of its real time
failure and incident management system that supports the UK's rail
infrastructure.

 

 

Commenting on the award, Raschid Abdullah, Chairman of Petards Group plc said:

 

"We are pleased to have secured this contract extension for this important
safety-related software application which RTS has delivered for many years.

 

"This award adds to RTS's order book and supports its strong core of recurring
revenues for the current and following year."

 

 

Contacts:

 

 Petards Group plc                           www.petards.com (http://www.petards.com/)
 Raschid Abdullah, Chairman                  Mb:  07768 905004

 WH Ireland Limited, Nomad and Joint Broker  https://www.whirelandplc.com/capital-markets
                                             (https://www.whirelandplc.com/capital-markets)
 Mike Coe, Sarah Mather                      Tel:  020 7220 1666

 Hybridan LLP, Joint Broker                  www.hybridan.com (http://www.hybridan.com/)
 Claire Louise Noyce                         Tel:  020 3764 2341

                                             claire.noyce@hybridan.com (mailto:claire.noyce@hybridan.com)

 

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