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PEN

Pennant International Group PLC

Technology First-pass screen £8.57m
410/1000 Overall fit
AI beneficiary 35% 35
Operating leverage 25% 55
Valuation 25% 30
Downside protection 15% 48

First-pass take

Loss-making software/services provider to defence, aerospace, rail with growing recurring revenue (26% ARR growth, 60% of revenues recurring) and strengthened £23.3m order book. Material going concern uncertainty and near-zero cash buffer; no explicit AI beneficiary positioning.

Flags

loss-makinggoing-concernno-valuation-datacyclicaldefensivemicro-caprestructuring