Last checked at 14 Oct 2016 07:00
SRT MARINE SYSTEMS PLC
("SRT" or the "Company")
Vessel Tracking Order Received For Saudi Arabia
SRT, the AIM quoted provider of maritime domain awareness technologies, products and solutions, is pleased to announce that it has received an initial order and first payment for the supply of AIS vessel monitoring transceivers for deployment in Saudi Arabia. The order will be shipped during the current financial year.
The order is part of a national initiative which is expected to see up to 70,000 locally registered boats continuously monitored to enhance maritime security, safety and management.
Simon Tucker, CEO of SRT, said: "After a four year period of extensive consultations, technology and product evaluation, this small initial order is an important milestone and marks the start of the rollout. We look forward to working with our partners in the future on this national initiative."
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
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About SRT Marine Systems plc
SRT develops, manufactures and supplies maritime tracking technology and turn-key system solutions to marine stakeholders across the globe. The Company's products and solutions are used by individual vessel owners, port authorities, maritime infrastructure owners, coast guards and national security agencies to enhance their maritime domain awareness. Applications include the tracking of commercial and leisure vessels; sustainable fishery; anti-collision; search and rescue; waterway management, port and coast security; pollution management; and environmental management.