Petards Regulatory News (PEG)

11 November 2013

PETARDS GROUP PLC ("Petards" or the "Group")

Contract Win

Petards, the AIM quoted developer of advanced security and surveillance systems, announces that it has been awarded a contract to supply Hyundai Rotem of South Korea with Petards eyeTrain on-board digital CCTV systems for Electrical Multiple Unit (EMU) trains that they are supplying to New Zealand.

The contract is for the supply of eyeTrain systems comprising saloon CCTV, forward facing cameras and automatic passenger counting to be installed on 70 additional 'Matangi' EMU cars that Hyundai Rotem will supply to Greater Wellington Railways as part of a new extension order. Petards already supplied the systems on the previous 96 'Matangi' EMU cars delivered by Hyundai Rotem to the same customer. The contract is worth over £1 million and deliveries are expected to commence in the second half of 2014 and to be completed by the end of that year.

Commenting on the award, Petards Chairman Raschid Abdullah said;

"We are very pleased that Hyundai Rotem and Greater Wellington Railways have again chosen Petards eyeTrain systems for fitment to their Matangi trains and we look forward to having the opportunity to work with them both once more. We believe this is a good example of the opportunities for repeat business that exist once our equipment has been specified and installed onto particular classes of new trains."

Contacts:

william.lynne@hybridan.com