Petards Regulatory News (PEG)

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

Contract Win

Petards, the AIM quoted software developer of advanced security and surveillance systems, announces that it has been awarded a contract to supply Bombardier Transportation ("Bombardier") with Petards eyeTrain systems.

The new contract, which is worth in excess of £2.7 million, is for the supply of Petards eyeTrain systems as part of a Class 172 modifications project for supply to West Midlands Trains. A total of 35 trains will be modified to have Petards Automatic Selective Door Opening system "ASDO", Driver Controlled Operation CCTV "DCO CCTV" and Automatic Passenger Counting "APC" systems installed. Engineering activities will commence immediately with the first equipment deliveries starting in January 2019 and it is expected that the project will be completed in 2020.

Commenting, Petards Chairman Raschid Abdullah said: "We are delighted that Petards has been selected by Bombardier to work with them on this exciting project and supply our innovative ASDO, DCO CCTV and APC systems. This new order adds to our already significant installed base and strengthens our position as the leader of on-train video and data solutions. Additionally it further bolsters the Group's present order book for delivery in 2019 through to 2020"

Certain information contained in this announcement would have constituted inside information (as defined by Article 7 of Regulation (EU) No 596/2014) ("MAR") prior to its release as part of this announcement and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations. 

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