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Shieldtech

  • BY: Andrew Hore |
  • POSTED: 20/02/2008 |

Shieldtech has secured an initial £1.8m contract for a modular body armour system.

The purchaser is a “major overseas defence client”. There could be £3.2m worth of additional business over the next three years.

The business reversed into cash shell Base Group in July last year. Prior to the reversal the core Shieldtech business generated turnover of £11.5m in the 12 months to June 2007. That puts this contract into perspective.

The shares increased 2p to 24p, valuing the company at £12.7m. 

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