Update on LTPA amendment
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 and Communications:
+44 (0) 7920 108675
Ian Brown, Group Head of Investor Relations:
+44 (0) 7908 251123
Jon Hay-Campbell, Group Head of Communications:
+44 (0) 7500 856953
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.
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