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Pin to quick picksPennant International Regulatory News (PEN)

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New Contract & Notice of Half-Year Trading Update

17 Jul 2020 07:00

RNS Number : 3268T
Pennant International Group PLC
17 July 2020
 

 

FOR IMMEDIATE RELEASE 17 July 2020

PENNANT INTERNATIONAL GROUP PLC

 

New Contract Award

'Statement of Intent' converted into initial £1.5 million Middle East Order

&

Notice of Half-Year Trading Update

 

Pennant International Group plc ("Pennant", the "Group", or the "Company), a leading global provider of technology-based maintainer training and integrated product support solutions, is pleased to announce the award of a new contract with an initial order value of £1.5 million.

The award follows the Company's announcement on 19 February 2020 that it had received a statement of intent for the purchase of training aids worth up to £5 million from a long-standing customer in the Middle East.

The training aids have been selected from Pennant's existing suite of generic products, with the majority of revenue on the order expected to be recognised in 2021 as the training aids are completed and delivered.

This new award takes the Group's contracted order book scheduled for 2021 to just under £13.5 million.

Following receipt of this initial order, the Company anticipates that the customer will make further purchases in line with the statement of intent and expects an additional order to be placed later this year or in early 2021.

Phil Walker (Group CEO) commented: "We are delighted to have secured this new contract, which is testament to our close and long-standing partnership with the customer. It also demonstrates the Group's continued ability to convert new opportunities and win new international business which is particularly important in the current economic climate".

The Group intends to provide a Trading Update on 13 August 2020 in respect of the six months ended 30 June 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 MAR.

Enquiries:

 

Pennant International Group plc

www.pennantplc.co.uk

Philip Walker, CEO

 

+44 (0) 1452 714 914

David Clements, Commercial & Risk Director

 

WH Ireland Limited (Nomad and Broker)

www.whirelandcb.com

Mike Coe

Chris Savidge

+44 (0) 117 945 3470

Walbrook PR (Financial PR)

paul.vann@walbrookpr.com

Paul Vann

Tom Cooper

+44 (0)20 7933 8780

Mob: +44 (0)7768 807631

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
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19th Jan 20239:31 amRNSHolding(s) in Company
12th Jan 202312:47 pmRNSAppointment of Director
9th Nov 20227:00 amRNSShare Option Restructuring
24th Oct 20228:31 amRNSDirectorate Change
21st Sep 20227:00 amRNS2022 Interim Results
9th Aug 20225:51 pmRNSIssue of Equity, Director/PDMR Dealings & TVR
9th Aug 202210:32 amRNSHoldings in Company
3rd Aug 20227:00 amRNSSale of Pennant Court
28th Jul 20227:00 amRNSTrading Update & Notice of Interim Results
30th Jun 20227:00 amRNSNotice of Capital Markets Day
22nd Jun 202210:27 amRNSResult of AGM
27th May 202210:56 amRNSNotice of AGM
25th May 20227:00 amRNS2021 Final Results
29th Apr 20227:00 amRNSNotice of Final Results
19th Apr 20221:42 pmRNSHolding in Company
6th Apr 20227:00 amRNSIssue of Equity, Director/PDMR Dealings & TVR
23rd Mar 20227:00 amRNSContracts & Order Book Update
21st Jan 202210:19 amRNSMajor Programme Update
20th Jan 20229:05 amRNSSecond Price Monitoring Extn
20th Jan 20229:00 amRNSPrice Monitoring Extension
20th Jan 20227:00 amRNSTrading Update
16th Dec 202110:55 amRNSHolding in Company
3rd Dec 202111:20 amRNSMajor Programme Update
17th Nov 202112:04 pmRNSHolding in Company
11th Nov 20215:13 pmRNSDirectorate Change
1st Nov 20211:23 pmRNSHolding in Company

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