TP Group hopeful as MoD signals possible intentions

(ShareCast News) - Specialist technology, engineering and managed solutions company TP Group confirmed on Friday that the Ministry of Defence has issued a 'Voluntary Ex-Ante Transparency Notice', detailing its intention to negotiate a sole source contract with TPG Maritime.TPG Maritime is a wholly owned subsidiary of TP Group.The AIM-traded firm said the notice was for the provision of a number of new combined oxygen generating systems and system upgrades for UK submarines."The contract, if awarded, is estimated to be worth circa £22.6m over approximately eight years, starting in 2017," TP Group said in a statement."This announcement signifies the intention of the MoD to negotiate the aforementioned contract but does not constitute a firm order at this time," it said.