REG - SRT Marine Systems - US$9 million new MDA system contract award

SRT Marine SystemsAnnouncement

19/11/2024 07:00

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RNS Number : 6935M  SRT Marine Systems PLC  19 November 2024

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")

 

US$9 million new MDA system contract award

SRT, a global provider of maritime domain awareness systems and technologies
for security, safety and environmental protection is pleased to advise that it
has received a notice of award for a contract worth US$9m from a Middle East
sovereign Coast Guard. The contract is expected to be signed and commence
during December.

The contract is from an existing long standing SRT customer who is now
undertaking an upgrade to their system to integrate more sensor systems and
related new functionalities. The upgrade will integrate multiple command
centres and ministries enabling them to integrate all maritime data within a
single secure platform that is fully owned, controlled and operated by the
customer in country and thus share a common national operating picture and
digitally co-ordinate operations.

Simon Tucker, CEO of SRT Marine Systems, commented:

"This is a typical example of the long-term partnership SRT builds with
customers and how the build-up of customer MDA system capabilities and
capacity is a long-term multi-contract program. We look forward to delivering
enhanced capability to their existing SRT system and working with them to
fully operationalise them."

 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)
 Cavendish Capital Markets Limited (NOMAD & Broker)
 Jonny Franklin-Adams / Teddy Whiley / Finn Gordon (Corporate Finance)     +44 (0) 20 7220 0500
 Tim Redfern / Ondraya Swanson (Corporate Broking)
 Yellow Jersey PR
 Charles Goodwin / Annabelle Wills                                         +44 (0) 774 7788 221

                                                                           srt@yellowjerseypr.com (mailto:srt@yellowjerseypr.com)

About SRT Marine Systems plc:

SRT Marine Systems plc is an established leader in the growing global market
for maritime domain awareness. We provide technology driven solutions for
coastal and EEZ surveillance, fisheries management and monitoring and
navigation safety and efficiency. 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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