TP ICAP Group PLC

Regulatory Filings • Apr 11, 2017

National Storage Mechanism | Additional information

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RNS Number : 2108C

TP Group PLC

11 April 2017

11 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 framework contract with the Ministry of Defence ('MoD'), following successful negotiations first announced on 5 August 2016, for the provision of up to 8 Combined Oxygen Generating Systems ('COGS') and additional ancillary items to upgrade in-service Royal Navy submarines.

These safety-critical systems generate oxygen from sea water to deliver breathable air as part of the environmental management that allows submarines to remain submerged for extended periods. The framework contract has a potential value of up to £22.5m if all systems are ordered. The systems will be called off at the MoD's discretion over the next 5 to 8 years.

The systems will be built at TPG Maritime's Portsmouth facility.

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

"We are delighted to have confirmed this contract and our continuing support to the Navy's submarine programme. It builds upon the long standing relationship we have with the MoD and provides continuity of service for this critical equipment."

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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