CT Automotive Group PLC - Portsmouth, England-based maker of interior components to the automotive industry - Says it entered into an agreement to provide services to iAqua Watercraft Ltd on a cost-plus basis on May 1, 2024. The company says it does not expect to invoice more than $100,000 per year under the agreement, which covers engineering services and product management. It says the agreement is profitable for CT Automotive.

CT Automotive notes its Chief Executive Officer Simon Phillips is also a 30% shareholder in iAqua. The company has consulted with its advisor which says the terms of the agreement are fair and reasonable.

Current stock price: 39.00 pence, down 2.5% on Friday

12-month change: down 44%

Copyright 2025 Alliance News Ltd. All Rights Reserved.