IN BRIEF: FireAngel signs "transformational" smoke alarm deal

FireAngel Safety Technology Group PLC - Coventry-based home safety products maker - signs ...

Alliance News 7 April, 2021 | 11:32AM
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FireAngel Safety Technology Group PLC - Coventry-based home safety products maker - signs long-term partnership with a German real-estate services provider for a fully funded research and development programme to make a new generation smoke alarm. Shares jump 68%. Seven million smoke alarms expected to be produced, starting early 2024. "This is the most significant development for FireAngel for several years and is expected to be transformational for the group. The directors estimate that, during the life of the partnership, the company should earn up to EUR21 million in royalty, management and support fees," FireAngel Executive Chair John Conoley says.

Current stock price: 24.30 pence

Year-to-date change: up 33%

By Ivan Edwards; ivanedwards@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
FireAngel Safety Technology Group PLC 20.00 GBX 0.00 -

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