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(Sharecast News) - Pennant International announced on Wednesday that it has received an invitation to negotiate from the UK Ministry of Defence, marking the start of formal discussions on a previously-announced contract to upgrade the RAF's GenFly training systems.
The AIM-traded firm said the move came after the MoD's October announcement naming Pennant as its preferred supplier for the comprehensive technology upgrade.
It said the expected contract value remained at around £4.9m, in line with prior guidance.
Pennant said it expected the contract would begin in the third quarter of 2025, subject to the successful conclusion of negotiations.
The company said it would provide a further update once terms were agreed and the contract signed.
At 1149 BST, shares in Pennant International were up 0.89% at 27.74p.
Reporting by Josh White for Sharecast.com.
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