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Petards Group PLC - London-based developer of security and surveillance systems - Newly acquired subsidiary Affini Technology has been awarded an order worth over £400,000 for a critical communication system. Says order is to supply and install a new wireless communications system to support the unnamed client’s ongoing activities at a major UK site. Expects to start deliveries in October, and says the order is scheduled to be fully delivered this year. Petards agreed to acquire Affini in June, for £2.5 million cash and 4.2 million shares worth £326,000. Chair Raschid Abdullah says: ‘It is very pleasing that this customer has chosen to award this contract to Affini and giving it the opportunity to work with them in delivering their critical communications infrastructure project. This order adds to the contract award successes announced by both Petards Rail and QRO in recent weeks further adding to the current group’s order book.’ Current stock price: 10.46 pence, up 16% on Wednesday afternoon in London 12-month change: up 52% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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