QinetiQ Group plc Update on LTPA amendment (3817U)
March 28 2019 - 12:20PM
UK Regulatory
TIDMQQ.
RNS Number : 3817U
QinetiQ Group plc
28 March 2019
Update on LTPA amendment
28 March 2019
QinetiQ Group plc ('QinetiQ' or 'the Group') today issues an
update on its discussions with the UK Ministry of Defence (MOD)
regarding a contract amendment to the Long Term Partnering
Agreement (LTPA) covering the operation of 16 LTPA sites which were
not part of the amendment signed in December 2016.
On 1 April 2018, QinetiQ and the MOD put in place a twelve-month
interim pricing arrangement covering QinetiQ's continued delivery
of test, evaluation and training support services at these 16 sites
under existing LTPA contract terms.
QinetiQ and the MOD have made good progress during the
discussions on the LTPA contract amendment and all contract terms
have been agreed. The proposed contract amendment is now in the
final stages of negotiation with the MOD. QinetiQ and the MOD are
aiming to sign the contract amendment shortly, once these final
negotiations have been completed.
LTPA related work continues as normal under the existing terms
of the contract.
This announcement contains inside information and the person
responsible for making this announcement is Jon Messent, Company
Secretary.
For further information please contact:
David Bishop, Group Director Investor Relations +44 (0) 7920
and Communications: 108675
+44 (0) 7908
Ian Brown, Group Head of Investor Relations: 251123
+44 (0) 7500
Jon Hay-Campbell, Group Head of Communications: 856953
About QinetiQ:
QinetiQ (QQ.L) is a leading science and engineering company
operating primarily in the defence, security and critical
infrastructure markets. We work in partnership with our customers
to solve real world problems through innovative solutions
delivering operational and competitive advantage. Visit our website
www.QinetiQ.com. Follow us on LinkedIn and Twitter @QinetiQ. Visit
our blog www.QinetiQ-blogs.com.
Disclaimer
This document contains certain forward-looking statements
relating to the business, strategy, financial performance and
results of the Company and/or the industry in which it operates.
Actual results, levels of activity, performance, achievements and
events are most likely to vary materially from those implied by the
forward-looking statements. The forward-looking statements concern
future circumstances and results and other statements that are not
historical facts, sometimes identified by the words 'believes','
expects', 'predicts', 'intends', 'projects', 'plans', 'estimates',
'aims', 'foresees', 'anticipates', 'targets', 'goals', 'due',
'could', 'may', 'should', 'potential', 'likely' and similar
expressions, although these words are not the exclusive means of
doing so. These forward-looking statements include, without
limitation, statements regarding the Company's future financial
position, income growth, impairment charges, business strategy,
projected levels of growth in the relevant markets, projected
costs, estimates of capital expenditures, and plans and objectives
for future operations. Forward-looking statements contained in this
announcement regarding past trends or activities should not be
taken as a representation that such trends or activities will
continue in the future. Nothing in this document should be regarded
as a profit forecast.
The forward-looking statements, including assumptions, opinions
and views of the Company or cited from third party sources,
contained in this announcement are solely opinions and forecasts
which are uncertain and subject to risks. Although the Company
believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that these
expectations will prove to be correct. Actual results may differ
materially from those expressed or implied by these forward-looking
statements. A number of factors could cause actual events to differ
significantly and these are set out in the principal risks and
uncertainties section of this document.
Most of these factors are difficult to predict accurately and
are generally beyond the control of the Company. Any
forward-looking statements made by, or on behalf of, the Company
speak only as of the date they are made. Save as required by law,
the Company will not publicly release the results of any revisions
to any forward-looking statements in this document that may occur
due to any change in the Directors' expectations or to reflect
events or circumstances after the date of this document.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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