RA International Group PLC Update on events in Cabo Delgado, Mozambique (7783T)
29 March 2021 - 5:38PM
UK Regulatory
TIDMRAI
RNS Number : 7783T
RA International Group PLC
29 March 2021
This announcement contains inside information
RA INTERNATIONAL GROUP PLC
("RA International" or the "Company")
Update relating to events in Cabo Delgado province,
Mozambique
RA International Group PLC (AIM: RAI), a specialist provider of
complex and integrated remote site services to Humanitarian,
Governmental and Commercial organisations globally, announces an
update relating to events in the Cabo Delgado province, Mozambique
where RA International is operational.
Soraya Narfeldt, CEO of RA International: "As has been widely
reported, the Cabo Delgado province of Northern Mozambique has seen
a persistent threat over a number of months from local insurgents.
Over the course of the last few days, there has been a further
escalation in hostile activity in the Cabo Delgado province near to
where our operations are based. Given the nature of this
escalation, we have prioritised the safety and security of our
staff, including the evacuation of our people from the area.
These security concerns, compounded with the impacts of COVID-19
and extreme weather, have led to delays to the overall energy
related project in the region and to the suspension of our contract
to build and operate an 1800-person camp, where an extension of our
initial 2-year tenancy contract is under negotiation. Given the
escalation in hostilities in the area in recent days, the directors
of the Company now expect there will be further delays in the
project that are likely to impact on the overall financial
performance of the Company in the current financial year. This
impact is expected, at the current time, to be up to USD 10m of
revenue, which the directors expect will now be recognised in a
later financial period. The Company will continue to update the
market with material developments as and when appropriate."
Enquiries:
RA International Group PLC Via Bamburgh
Soraya Narfeldt, Chief Executive Officer Capital
Lars Narfeldt, Chief Operating Officer
Andrew Bolter, Chief Financial Officer
Canaccord Genuity Limited (Nominated Adviser
and Broker)
Bobbie Hilliam +44 (0)207 523
Alex Aylen 8000
Bamburgh Capital Limited (Financial PR & +44 (0)191 249
Investor Relations) 7442
Murdo Montgomery investors@raints.com
About RA International
RA International is a leading provider of services to remote
locations in Africa and the Middle East. The Company offers its
services through three channels: construction, integrated
facilities management and supply chain, and services three main
client groups: humanitarian and aid agencies, governments and
commercial customers, predominantly in the oil and gas and mining
sectors. It has a strong customer base, largely comprising UN
agencies, western governments and global corporations.
The Company provides comprehensive, flexible, mission critical
support to its clients enabling them to focus on the delivery of
their respective businesses and services. Focusing on integrity and
values alongside making on-going investment in its people,
locations and operations has over time created a reliable and
trusted brand within its sector.
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END
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