TP ICAP Group PLC — Capital/Financing Update 2016

Jul 4, 2016

National Storage Mechanism | Additional information

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RNS Number : 1809D

TP Group PLC

04 July 2016

4 July 2016

This announcement contains price sensitive information

TP Group plc

("TP Group" or the "Company")

Contract update

TP Group (AIM: TPG), the specialist technology, engineering and managed solutions group, today confirms that the MoD has issued a notice detailing its intention to award a sole source contract to TPG Maritime, a wholly owned subsidiary of TP Group, for an asset availability service contract relating to Submarine Air Purification. 

The contract, upon award, would be for an initial 7 years with an optional 3 years extension and is estimated to be worth £27.8 million over the full life cycle of the contract.

TP Group anticipates the contract will commence in early 2017.

Further information can be found at http://ted.europa.eu/udl?uri=TED:NOTICE:227000-2016:TEXT:EN:HTML&src=0

For further information, please contact: 

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

NOTES TO EDITORS

TP Group is a group of innovative UK based engineering companies, supplying technologies and support to global markets. 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 the AIM market since July 2001.   

This information is provided by RNS

The company news service from the London Stock Exchange

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