Last checked at 13 Aug 2020 07:00
This announcement contains inside information
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company")
Major new contract award
RA International Group PLC (AIM: RAI), a leading provider of services to remote locations in Africa and the Middle East, is pleased to announce the award of a significant contract.
The contract, with a new global client, a large engineering and construction firm focused on the oil and gas sector, will run for a period of two years with an approximate contract value of USD 60 million over this period. Under the terms of the contract, RA International will provide integrated facilities management (IFM) services in Southern Africa. The nature of the contract is that activity will ramp up over time, with full service provision expected to begin shortly before the first anniversary of contract award.
This contract award supports a significant increase in order book to USD 188 million.
Soraya Narfeldt, CEO of RA International, commented: "This is an important contract win for RA International that underlines the strengths of our business and our growing reputation for managing and delivering large, complex projects for commercial clients in the energy sector. It is testament to our capability to provide a full service offering to our clients' personnel, to the value of our long-term, strategic approach to planning and to our focus on delivering resourceful solutions for clients notwithstanding COVID-19 and project specific challenges."
Enquiries:
RA International Group PLC Soraya Narfeldt, Chief Executive Officer Lars Narfeldt, Chief Operating Officer Andrew Bolter, Chief Financial Officer
| Via Bamburgh Capital |
Cenkos Securities PLC (Nominated Adviser and Broker) Derrick Lee Peter Lynch
| +44 (0)131 220 6939 |
Bamburgh Capital Limited (Financial PR & Investor Relations) Murdo Montgomery
| +44 (0)191 229 9500 investors@raints.com |
About RA International
RA International is a leading provider of services to remote locations in Africa and the Middle East. The Company offers its services through three channels: construction, integrated facilities management and supply chain, and services three main client groups: humanitarian and aid agencies, governments and commercial customers, predominantly in the oil and gas and mining sectors. It has a strong customer base, largely comprising UN agencies, western governments and global corporations.
The Company provides comprehensive, flexible, mission critical support to its clients enabling them to focus on the delivery of their respective businesses and services. Focusing on integrity and values alongside making on-going investment in its people, locations and operations has over time created a reliable and trusted brand within its sector.