THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

US$9 million new MDA system contract signed & commenced

SRT Marine Systems plc ('SRT'), a global provider of maritime domain awareness systems and technologies for security, safety and environmental protection is pleased to advise that following the contract award announcement last month (November), that the contract has been signed and is active and that implementation has commenced. 

The contract is for the upgrade of an existing SRT system with an existing Middle East Coast Guard customer. The contract is worth a total of US$9 million over a ten year period.

Simon Tucker, CEO of SRT Marine Systems, commented:

"We are delighted to have commenced this system upgrade with this long-standing and highly valued Coast Guard customer and look forward to many more years of business with them as they grow and enhance their national maritime surveillance and intelligence capabilities."

About SRT Marine Systems plc:

SRT Marine Systems PLC is an established leader in the growing global market for maritime domain awareness. We provide technology driven solutions for coastal and EEZ surveillance, fisheries management and monitoring and navigation safety and efficiency. Our customers range from government agencies such as Coast Guards, Fishery Authorities and Ports & Waterway authorities to commercial and leisure vessel owners.