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Last checked at 
10 Mar 2020 12:00
10 March 2020
PENNANT INTERNATIONAL GROUP PLC
Contract Update
Pennant International Group plc ("Pennant", the "Group", or the "Company"), the AIM quoted supplier of integrated training and support solutions, products and services which train and assist operators and maintainers in the defence and regulated civilian sectors, is pleased to provide an update on a key contract.
In its announcement of 9 August 2019, the Company noted that it was in the process of responding to a customer request for changes to its contract for the design and build of a set of electro-mechanical maintenance trainers for a UK armoured vehicle programme.
The scope and key terms of this contract amendment have now been agreed as expected with the customer. Formal execution of the amendment is anticipated to occur within the next two months. The price for the contract will increase by £1.5 million (to circa £13.5 million) of which circa £5 million remains to be recognised over 2020 and 2021.
Enquiries:
Pennant International Group plc | www.pennantplc.co.uk |
Philip Walker, CEO David Clements, Commercial & Risk Director | +44 (0) 1452 714 914 |
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WH Ireland Limited (Nomad and Broker) | www.whirelandcb.com |
Mike Coe Chris Savidge | +44 (0) 117 945 3470 |
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Walbrook PR (Financial PR) | paul.vann@walbrookpr.com |
Paul Vann Tom Cooper | +44 (0)20 7933 8780 Mob: +44 (0)7768 807631 |
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