SimiGon Limited Further Contract

TIDMSIM

SimiGon Limited

21 June 2018

SimiGon Ltd

("SimiGon" or "the Company")

United States Air Force adds additional SimiGon support for T-6A simulators

SimiGon, (LSE: SIM), a global leader in modelling, simulation and training solutions, is pleased to announce that the United States Air Force (USAF) has executed a contract amendment (the "Contract Amendment") to add additional onsite support services for the sixteen T-6A Level 5 Flight Training Devices (FTDs) under the Contractor Logistics Support contract for SIMbox-based T-6A Level 5 FAA Compliant FTDs announced 7 February 2018 (the "Contract").

This increases the total Contract value, for which the Company will be entitled to invoice the client up to an additional $315,100 during the 12 month period ending 30 April 2019. The expected revenue from this Contract was already factored into management's expectations for the year ended 31 December 2018. In addition, the Contract is expected to contribute to improved revenue visibility for FY 2019.

The Company's growing T-6A business demonstrates the end user's high regard for SimiGon's training devices and support maintaining the systems. The FTDs are used to provide thousands of training events annually for the USAF's Undergraduate Remotely Piloted Aircraft Training (URT) program.

SimiGon President and CEO, Ami Vizer, said: "This Contract Amendment is a result of our hard work to support the USAF URT T-6A programme and maintain extremely high availability rates for a demanding, high tempo training operation. We appreciate the USAF's confidence in our COTS (commercial off the shelf) products and look forward to continuing to develop support services business within the USAF and other customers."

Enquiries:

 
 SimiGon Ltd 
 Ami Vizer, Chief Executive Officer             [phone] 
 Efi Manea, Chief Financial Officer 
 
 finnCap (NOMAD & Broker)                       [phone] 
 Henrik Persson/Matthew Radley (corporate 
  finance) 
 
   Stephen Norcross (corporate broking) 
 

About SimiGon

SimiGon (AIM: SIM) is a leading developer and supplier of distributed simulation solutions for defence and civilian applications. SimiGon is the creator of SIMbox, a leading PC-based platform for creating, managing and deploying simulation-based content across multiple domains. Through its off the-shelf training solutions for demanding high-skill occupations, SimiGon provides diverse organizations with faster and more cost-effective training. SimiGon's growing client base includes blue-chip training and simulation systems providers as well as air forces and commercial airlines worldwide. Founded in 1998, SimiGon maintains offices in Israel and the United States.

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June 21, 2018 03:00 ET (07:00 GMT)