REG - SRT Marine Systems - New US$261m Maritime Surveillance Contract Signed

SRT Marine SystemsAnnouncement

Today 07:00

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RNS Number : 2100V  SRT Marine Systems PLC  04 March 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF
MAR.

 

 

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

 

New US$261m Maritime Surveillance Contract Signed

SRT Marine Systems plc ('SRT'), a global provider of intelligent maritime
surveillance and safety systems, is pleased to announce that it has signed a
new contract with a new sovereign customer to supply a national SRT-MDA System
with a total value of US$261 million.

In September 2025, we announced the receipt of a contract award notification
and advised that the final expected value of the final contract would be
approximately US$200 million. Today's announcement confirms that the formal
project contract has now been signed, with a final value of US$261 million.
The signing took place at a formal event at the customer's premises, attended
by senior representatives from the customer, the UK Government, UKEF and SRT.

Activation of the project contract, and thus commencement of implementation,
is subject to completion of a UKEF-supported project finance package, upon
which work has now commenced.

Given the current geo-political circumstances in the Middle East, we also take
this opportunity to provide a brief update on our other existing projects and
systems. Today, we have projects being successfully implemented and operated
across Asia and the Middle East. The current challenges in the Middle East
have highlighted the critical importance of sovereigns having their own
independent civil defence and surveillance systems, and we continue to make
good progress working alongside all our sovereign partners and their MDA
programs and operations.

Simon Tucker, SRT CEO, said: "We are delighted to welcome this new customer to
our Sovereign Partnership Program and look forward to executing on this first
US$261m contract, while working with them over the long term to build up their
surveillance capabilities.

Our SRT-MDA System will provide continuous maritime domain situational
awareness by integrating multiple sensors, data and operational workflows to
support intelligence-led operations, maritime safety and law enforcement. As a
modular system, it is designed to scale over time and thereby enable this
customer to continue evolving their capabilities in the future.

 

Following today's new contract signing, SRT has approximately £340 million of
active projects under implementation, a further US$261 million contract now
signed and pending commencement, and a new-contract prospects pipeline with an
estimated value of up to £1.8 billion. This pipeline of active and pending
contracts reflects growing demand for independent sovereign MDA capabilities,
our national scale integrated MDA technologies and SRT's successful project
delivery track record."

 

 For further information, please contact:
 SRT Marine Systems plc                                                    www.srt-marine.com (http://www.srt-marine.com)

                                                                           + 44 (0) 1761 409500
 Simon Tucker (CEO)                                                        simon.tucker@srt-marine.com (mailto:simon.tucker@srt-marine.com)
 Kevin Finn (Chairman)                                                     Kevin.finn@srt-marine.com (mailto:Kevin.finn@srt-marine.com)
 Nora Alakshan (Corporate Communications Manager)                          nora.alakshan@srt-marine.com
 Cavendish Capital Markets Limited (NOMAD & Broker)
 Jonny Franklin-Adams / Teddy Whiley / Finn Gordon (Corporate Finance)     +44 (0) 20 7220 0500
 Sunila de Silva (Corporate Broking)

 

About SRT Marine Systems plc:

SRT Marine Systems PLC is a global provider of civil defence maritime
intelligence and surveillance systems and navigation safety and efficiency
solutions. Our systems provide MDA intelligence that enable sovereign agencies
such as Coast Guards and Fishery Authorities to adopt a new nationwide
intelligence lead operations doctrine which is highly effective and efficient
for maritime safety and security. Our navigation safety systems enable vessel
operators to navigate digitally more safely and efficiently. Our customers
range from government agencies such as Coast Guards, Fishery Authorities and
Ports & Waterway authorities to commercial and leisure vessel owners.

 

 

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