TP ICAP Group PLC

Capital/Financing Update • Apr 3, 2017

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RNS Number : 2690B

TP Group PLC

03 April 2017

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.

3 April 2017

TP Group plc

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

Confirmation of contract award

TP Group (AIM: TPG), the specialist services and engineering group, announces that TPG Maritime has been awarded a contract by the Ministry of Defence ('MoD'), following successful negotiations first announced on 4 July 2016.  This agreement will see TPG Maritime manage equipment availability and spares provision for air purification systems on board Royal Navy submarines currently in service.

The 5 year contract has an option for a further 2 year extension and is estimated by the Company and the MoD to be worth at least £22m (at 2017 prices) over 7 years, although the final value is dependent on, inter alia, spares usage.

Phil Cartmell, Chief Executive Officer of TP Group, commented:

"We are delighted to confirm this significant contract which will see TPG continue to support advanced, safety-critical systems in the Royal Navy's submarine programme. This recognition re-enforces our long-term partnership with the Ministry of Defence and provides visibility of future work and revenue in Portsmouth."

For further information, please contact:

TP Group plc	Tel: 01753 285 810
Phil Cartmell, Chief Executive Officer
Derren Stroud, Chief Financial Officer
www.tpgroup.uk.com
Cenkos	Tel: 020 7397 8980
Mark Connelly / Callum Davidson
www.cenkos.com
Vigo Communications	Tel: 020 7830 9700
Jeremy Garcia / Fiona Henson
www.vigocomms.com

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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