REG - SRT Marine Systems - New System Contract Award

SRT Marine SystemsAnnouncement

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RNS Number : 7857Z  SRT Marine Systems PLC  18 September 2025

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 System Contract Award

SRT Marine Systems plc ('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 formal written notification of award
from a new sovereign customer for the supply of a substantial maritime
surveillance system. The contract is expected to be worth approximately
US$200m. The award is subject to completion of the project contract and a
project financing package: neither of which is guaranteed and is likely to
take many months.

The customer is a sovereign that faces an array of maritime domain challenges
across an extensive and complex national marine domain. From smuggling and
illegal border incursions to illegal fishing all of which are a material risk
to economic and social development of the country. The SRT-MDA System being
acquired will provide extensive maritime intelligence and insight which will
enable the relevant marine agencies to adopt an intelligence led operations
(ILO) doctrine and assist in detecting, neutralising and deterring such
events.

When active, this new contract will add to the existing active contract book
of approximately £330m which we are currently implementing for five
sovereigns. We are pleased to take this opportunity to report that all are
making steady progress in accordance with our contracted obligations, project
plans, customer payment schedules and milestone deliverables.

Simon Tucker, CEO of SRT Marine Systems, commented:

"This award from a new sovereign customer is a conversion from our £1.4bn
validated sales pipeline, and once under contract, will be a substantial boost
to our existing active contract book which currently stands at approximately
£330m. As the global market for maritime domain awareness continues to gather
pace we expect to see our validated sales pipeline continue to grow with
contract opportunities from both new and existing customers, and subsequent
conversion into contract. Our early first mover advantage has enabled SRT to
build the sophisticated core technologies, execution capabilities and global
references that have endowed us with a material and defensible market
advantage which customers recognise and trust."

 

 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 (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 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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