By Christian Moess Laursen

Shares in RA International Group rose 35% after the company said it has received a service contract from the U.K. government worth up to 375 million pounds ($464.4 million).

At 0950 GMT, shares are up 3.00 pence at 11.50 pence.

The provider of remote-site services said Monday that the contract, which it called strategically significant, is for a minimum of two years, under which it will provide operational and technical equipment to organizations in hostile environments.

The contract is awarded by U.K.'s Foreign, Commonwealth and Development Office.

The value, timing and location of future orders will be dependent upon the government's priorities and needs over the period of the framework agreement, the company said.

Write to Christian Moess Laursen at christian.moess@wsj.com

(END) Dow Jones Newswires

September 18, 2023 06:14 ET (10:14 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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