TP ICAP Group PLC — Capital/Financing Update 2016

Aug 5, 2016

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 4201G

TP Group PLC

05 August 2016

5 August 2016

This announcement contains inside 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 UK Ministry of Defence (MoD) has issued a Voluntary Ex-Ante Transparency Notice detailing its intention to negotiate a sole source contract with TPG Maritime, a wholly owned subsidiary of TP Group, for the provision of a number of Combined Oxygen Generating Systems (COGS) and COGS system upgrades for UK submarines. 

The contract, if awarded, is estimated to be worth circa £22.6 million over approximately 8 years, starting in 2017. This announcement signifies the intention of the MoD to negotiate the aforementioned contract but does not constitute a firm order at this time.

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

END

CNTFMGGRGKNGVZM