TPG.L Regulatory News (TPG)

30 April 2018

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

TP Group plc

("TP Group" or the "Company" or the "Group")

MoD contract awards

TP Group (AIM: TPG), the specialist services and engineering group, is pleased to announce that it has been awarded two contracts by the Ministry of Defence ("MoD"), through its Enterprise Technical Alliance ("ETA") initiative. These are the first contracts of scale to be awarded to TPG under the ETA initiative.

The ETA brings together a group of Small Medium Enterprises ("SMEs") to deliver agile, responsive and independent contracting services, as well as to work collaboratively to deliver value for money solutions across small and large scale support requirements.

The first contract will see TP Group provide specialist support to Joint Forces Command ("JFC") on the MoD's ERUGATE project, with the contract valued at £1.0 million over 35 months.

In addition, the Group will also support the SAFEGUARDING program, in a contract valued at £0.8 million over two years, with additional options for the project to reach up to £1.6 million over the contract period.

TP Group is working with ETA member CDS Defence Support for delivery of both these contracts.

Phil Cartmell, Chief Executive of TP Group commented: 

"We are delighted to have secured these two contracts through our SME priming solution. These contracts represent the first of scale that we have secured through the ETA and demonstrate the market opportunity that exists through collaborating with other SMEs to deliver contracting services and solutions. We look forward to continuing to execute contracts through this channel."

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Notes to Editors

TP Group designs and develops advanced technologies, engineers complex equipment and systems, and provides support throughout their operational life. The Company's shares have been traded on AIM since July 2001.