Contract For Electro-Optical Sight Systems

The Company is pleased to announce that a further contract has been awarded by the United States Navy to our wholly owned subsidiary company, MSI-Defence Systems US LLC, which is based in Rock Hill, South Carolina, USA.

This contract is for $15.8 million and is for the supply of our newly developed MSI-DS Electro-Optical Sights System (which US Navy nomenclature identifies as the US Mk48 MOD2 Electro-Optical Sight Systems) as part of our MSI-DS 30mm weapon systems. Delivery of all equipment is for no later than 31 May, 2025.

The Electro-Optical Sight System is a new, fully tried and tested system developed in house by MSI- Defence Systems Ltd in our Norwich facility.

In the Company's annual financial report for the year ended 30 April 2023, the Chairman Michael Bell stated "We perceive that we are achieving a significant upward step change in the further development of the Company that will again bring additional rewards and success for the business".

This contract is further confirmation of that upward step change and follows the Company's announcements on 1 September 2023 of the award of the contract by the United States Navy for the procurement of supplies and services to maintain the US Navy Mk38 MOD4 weapon systems with a budget ceiling of $49.8 million over the period to 30 June 2028 and on 29 September of the award of the contract by the United States Navy for the supply of Mk 38 MOD4 gun mounts with a value of $23.5 million.