SRT Marine Systems has replaced the $21.4m contract guarantee provided by Ocean Infinity in October 2024 with a bank guarantee provided by Barclays and supported by UKEF. It confirms the financing arrangement is now fully settled, predominantly from the support of its bankers and UKEF but also from SRT’s cash from operations, indicative of the cash receipt from Systems revenue milestones achieved in H1. The company also confirms that replacement ahead of 30 June 2025 means no further warrants wi ....
