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SimiGon Limited   -  SIM   

Completion of milestones for US$6.7m contract

Released 07:00 05-Jul-2017

RNS Number : 1218K
SimiGon Limited
05 July 2017

5 July 2017

SimiGon Ltd

("SimiGon" or the "Company")

Successful completion of all systems delivery milestones for US$6.7 million contract announced in June 2013

Systems deployed and fully operational at customer site

SimiGon (LSE: SIM), a global leader in providing simulation training solutions, is pleased to announce that it has successfully completed all systems delivery milestones and received the requisite client confirmations in relation to the $6.7 million contract announced on 24 June 2013 (the "Programme").

The successful collaboration with the customer has led to a more advanced training system being developed. The experience gained from this turnkey programme will be useful in marketing SIMbox training solution to other potential customers worldwide, extending SimiGon's market reach.

The final solution provided to the customer provides the trainees with personalized, dynamic training lessons utilizing SimiGon's Virtual Instructor technology. Automated feedback reports provide trainees and instructors a detailed debrief of areas that require more focus. Simulation based training lessons are enhanced by an offline capability enabling trainees to continue their training and remain up-to-date on their own. SIMbox's client-server architecture enables organizational decision makers and training officers to track trainee progress information over time, monitor objectives, provide digitized feedback and records and transform into an organization capable of constant improvement, aided by an advanced training system.

SimiGon's disruptive training and simulation solutions are adopted by leading organizations worldwide to maintain high and up-to-date training levels while working within the reality of budget constraints. SimiGon's successful execution of this Programme has shown her potential as a leading player in the aviation training market. The Company relies on its successful completion to position herself in running for similar training programme successfully.

SimiGon President & CEO, Ami Vizer, said: "We are pleased to announce the successful completion of all systems delivery milestones. The experience and know-how obtained during the delivery of this Programme will be leveraged to further new business opportunities for SimiGon and our partners within the SIMbox ecosystem. We are proud to be part of this major Programme as a prime contractor, marking a significant milestone in SimiGon's strategic aim to lead more opportunities as prime. We are looking forward to extending this solution and concept to meet other training needs worldwide."



SimiGon Ltd

Ami Vizer, Chief Executive Officer

Efi Manea, Chief Financial Officer



Tel: +1 (407) 951 5548

finnCap (NOMAD & Broker)

Henrik Persson/Scott Mathieson (corporate finance)

Tel: +44 (0) 20 7220 0500

Stephen Norcross (corporate broking)

Alma PR (Public Relations)

+44(0) 208 004 4217

Hilary Buchanan/Josh Royston/Helena Bogle


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Completion of milestones for US$6.7m contract - RNS