Filtronic PLC Contract Win
23 Juillet 2024 - 8:00AM
RNS Regulatory News
RNS Number : 3643X
Filtronic PLC
23 July 2024
23 July 2024
Filtronic
plc
("Filtronic")
CONTRACT
WIN
$9m
contract win from SpaceX and vesting of share warrants
Filtronic plc (AIM: FTC),
the designer and manufacturer of products for the aerospace,
defence, telecoms infrastructure and critical communications
markets, is pleased to announce the receipt of a follow-on
production order from SpaceX.
The order is irrevocable, valued at
$9m (£7.1m), and represents a continuation of demand for the E-band
solid state power amplifier ("SSPA") modules to support the ongoing
deployment of SpaceX's Starlink constellation which
provides high-speed, low-latency high-speed
internet to users all around the world. It is anticipated the order
will be fulfilled in the current financial
year.
The order has been placed under the
framework of the Strategic Partnership, signed in April 2024, with
the vesting of a further 2,171,211 share warrants. Under the terms
of the agreement, as disclosed in the announcement on 24 April
2024, the Company issued two separate tranches of warrants with
this vesting of warrants being part of tranche 1. Tranche 1 relates
to the supply of E-band SSPAs with a total of 8,684,844 share
warrants now vested to date, representing 4%, of the maximum 5%, of
Company's share capital at the time of the signed
agreement.
Nat Edington, Chief Executive
Officer, said: "We are delighted to receive
this further order from our partner, SpaceX, as we continue to
support the rollout of the Starlink constellation. The order
demonstrates the continued significant role we are playing in
helping SpaceX achieve their mission."
Enquiries:
Filtronic plc
|
Tel.
01740 618800 or investor.relations@filtronic.com
|
Nat Edington (Chief Executive
Officer)
|
|
Michael Tyerman (Chief Financial
Officer)
|
|
|
|
Cavendish Capital Markets Limited
|
Tel.
020 7220 0500
|
Jonny Franklin-Adams/George Dollemore
(Corporate Finance)
|
Sunila de Silva (ECM)
|
|
|
|
Walbrook PR Limited
|
Tel.
020 7933 8780 or filtronic@walbrookpr.com
|
Nick Rome/Jospeh Walker
|
|
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END
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