REG - Plexus Holdings Plc - Framework Agreement – Initial £1.5m of Orders

Plexus HoldingsAnnouncement

Today 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:20260320:nRST3779Xa&default-theme=true

RNS Number : 3779X  Plexus Holdings Plc  20 March 2026

This announcement contains inside information

 

20 March 2026

Plexus Holdings PLC

("Plexus" or the "Company")

 

Framework Agreement - Initial £1.5m of Orders

 

Plexus Holdings PLC (AIM: POS), the AIM quoted wellhead services business,
announces that it has received orders which will lead to about £1.5m of work
under the recently announced Framework Agreement (See RNS dated 13 November
2025) for rental wellhead services with a UK Continental Shelf ("UKCS")
operator.

 

HIGHLIGHTS

·    The UKCS operator has issued orders under the Framework Agreement for
rental wellhead equipment and services for several plug and abandonment
("P&A") wells

·    The orders are expected to generate £1.5m of revenue over a 12 month
period, subject to rig schedules and project planning.

 

Plexus' CEO Craig Hendrie said: "Securing orders under this framework
agreement and beginning to mobilise equipment for the UK offshore sector is a
very welcome development after a prolonged period of uncertainty in the
region. We look forward to supporting the operator on these with the
operational excellence and technical support that Plexus is known for."

 

DETAILS

Plexus has received the first orders for its Exact™ EX rental wellhead
systems, associated equipment, and offshore support from a UKCS operator under
a previously announced framework agreement.

 

The orders relate to work across several wells and are expected to generate
approximately £1.5m of revenue over the next 12 months, although the precise
timing of activity will depend on rig schedules and project planning for each
individual well.

 

The Exact™ EX system is an adjustable surface wellhead that Plexus has
optimised for safe and efficient deployment during drilling and abandonment
operations. Its reusable, efficient to install, and well suited to
decommissioning and P&A work, helping operators reduce rig time, cost, and
environmental impact.

ENDS

 

For further information please visit www.plexusplc.com
(http://www.plexusplc.com/) or contact:

 

 Plexus Holdings PLC                Tel: 01224 774222

 Craig Hendrie, CEO

 Mike Park, CFO

 Cavendish Capital Markets Limited  Tel: 0131 220 6939

 Derrick Lee

 St Brides Partners Ltd             plexus@stbridespartners.co.uk

 Isabel de Salis

 Paul Dulieu

 Will Turner

 

NOTES

Plexus Holdings plc (AIM: POS) is an IP-led company specialising in developing
and providing wellhead systems and associated products and services for
offshore operations.

 

Headquartered in Aberdeen, the Company focuses on providing wellheads for
Jack-up rig operations such as exploration and appraisal drilling, Plug &
Abandonment work and emerging markets for Carbon Capture & Storage,
hydrogen production and storage and geothermal. Plexus has a collaboration
agreement with SLB to supply Exact adjustable wellhead systems for Jack-up
applications and supports these operations with a range of proprietary
equipment and tools, and project engineering services.

 

Plexus is known for its highly innovative POS-GRIP® wellhead technology and
HG® metal-to-metal sealing systems, for which licences have been sold to
major industry players such as SLB and TechnipFMC for limited applications.
Plexus continues to develop products based on POS-GRIP technology for
challenging surface production wellhead platforms, special projects and
connector and subsea applications such as the Python® subsea wellhead system.

 

Plexus has always been at the forefront of innovation to reduce risk and
improve performance in the energy industry, such as developing through-BOP
wellhead systems which help to prevent blow-outs, and POS-GRIP "HG" Seals
which are leak-free throughout field life and so reduce methane emissions and
minimise maintenance costs. These innovations support the oil and gas
industry's ESG and NetZero, and in recognition of this, Plexus was Awarded the
London Stock Exchange's Green Economy Mark in 2021.

 

For more information visit: https://www.plexusplc.com/
(https://www.plexusplc.com/)

 

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  AGRFLFERVLIALIR



            Copyright 2019 Regulatory News Service, all rights reserved