SRT Marine Systems' shares up on securing contract in Middle East

Shares in SRT Marine Systems are up almost 8% after it confirmed it had entered a contract to deliver a national MDM system for a country in the Middle East.

The system would enable continuous real time identification, tracking and monitoring of many thousands of leisure and commercial vessels operating in their territorial waters and EEZ (exclusive economic zone).

The provider of maritime domain awareness technologies said the deal marked the conversion of another of the company's validated sales opportunity pipeline prospects into a signed contract.

At 10:12 GMT, shares in AIM-listed SRT were up 7.81% to 34.5p each.