ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

QDG Quadnetics Grp

290.50
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Quadnetics Grp LSE:QDG London Ordinary Share GB0007156838 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 290.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Quadrant Group Plc - Re Strategic Alliance

10/09/1999 6:29pm

UK Regulatory


RNS No 3139v
QUADRANT GROUP PLC
10 September 1999

                      Quadrant Group plc
                               
              Quadrant Systems Strategic Alliance
                               
Quadrant  Group plc ("the Company") today announced  that  its
flight  simulation  and training subsidiary  Quadrant  Systems
Limited  ("Quadrant  Systems") has entered  into  a  strategic
alliance  with Flight Safety Boeing Training International  LLC
("FSB").   The alliance encompasses co-operation  between  the
two companies in a number of areas:

- the purchase by a subsidiary of FSB of Quadrant's three full
  flight simulators for #4.46 million in cash

- a contract  whereby  Quadrant  Systems  will  maintain  and
  technically support the three flight simulators, as well as a
  fourth FSB simulator, for a minimum period up to July 2004.

- the award by FSB to Quadrant Systems of several contracts for
  the  upgrade  and  relocation of certain of FSB's  simulators
  around  the  world,  with  the possibility  of  further  such
  contracts in the future.

- potential  future  contracts whereby Quadrant  Systems  would
  maintain  FSB's  simulators in its new  training  centres  in
  Europe.

- co-operation on certain military flight training programmes.

FSB  is  the  world's leading provider of flight training  for
large  commercial aircraft, and is jointly owned by The Boeing
Company  and  FlightSafety International Inc (a subsidiary  of
Berkshire Hathaway Inc).  It has recently established  a  base
in the UK from which to launch its planned growth in Europe.

Because of the size of the transaction, the sale of the  three
flight  simulators and certain related assets  is  subject  to
approval  by  the  Company's shareholders at an  Extraordinary
General  Meeting.   A  Circular setting out  details  will  be
posted  to  shareholders as soon as practicable.   Irrevocable
undertakings  to vote in favour of the proposed disposal  have
been  received  from  shareholders  representing  52%  of  the
Company's outstanding ordinary shares.

The sale of the simulators will realise a net gain on disposal
of approximately #1.3 million.

Following  completion of the FSB agreements, Quadrant  Systems
will  continue to focus on its growing business as one of  the
world's   leading   independent  companies  providing   flight
simulator  upgrades,  relocations,  technology  additions  and
maintenance.

David Coghlan, Chief Executive of Quadrant Group, commented:

"The  agreements with FSB represent a significant step forward
for  Quadrant Systems, confirming its position as a leader  in
the  highly specialist flight simulation services market.  FSB
is  one of the largest customers for such services and we look
forward to a growing long term relationship".

The Company's preliminary announcement of results for the year
ended  31  May  1999  has been released today  as  a  separate
announcement.

Enquiries:

David Coghlan and Nigel Poultney                  01527 850080
Quadrant Group PLC



END

MSCNFXNEFFSNEFN


1 Year Quadnetics Chart

1 Year Quadnetics Chart

1 Month Quadnetics Chart

1 Month Quadnetics Chart