Oil and gas engineering services specialist Plexus Holdings has won a £750,000 contract with Shell Egypt.

The Aberdeen-based company – more than 70 per cent of which is owned by chief executive officer Ben van Bilderbeek, says the contract is to supply its proprietary POS-GRIP high pressure and high temperature exploration rental wellhead systems for use by Shell in the Eastern Mediterranean. Van Bilderbeek says Plexus’s rental model ‘provides an excellent opportunity’ to increase the exposure of its technology by creating ‘a shop window to showcase the POS-GRIP method of engineering’.

Floated on AIM in late 2005 at 59p, Plexus’s extremely tightly held shares hit 104p early the next year before slumping to 35.5p last May. They now stand at 65p, where they value the company at £52.1 million.

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Plexus	AIM	£31.27m	39.00p	0.00p
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