Avon Rubber Protection mit kleinem Lichtblick:
Avon Protection plc is pleased to confirm the U.S. Defense Logistics Agency ("DLA") has exercised the first of the two one-year extension options under the DLA Enhanced Small Arms Protective Inserts ("ESAPI") body armor contract.
The exercise of this initial option extends the contract to 22 September 2022 and triggers a minimum order value for the option year of $19 million.
The exercise of the option also triggers a further $3 million of contingent consideration payable to 3M under the terms of the acquisition of the Ceradyne ballistic protection business, as announced on 7 August 2019. This brings the total contingent consideration payable to date to $7 million. Additional contingent consideration will become payable on receipt of further orders in excess of the minimum order value of $19 million, with the maximum total contingent consideration payable to 3M being $25 million.
(https://otp.tools.investis.com/clients/uk/avon_rubber_plc1/rns/regulatory-story.aspx?cid=820&newsid=...)
