Substantial Sale of Data and Products

RNS Number : 9875P

GETECH Group plc

16 October 2019

 

Getech Group plc

("Getech" or the "Company")

Substantial sale of data and products

Getech (AIM; GTC), a provider of geoscience and geospatial products and services to companies and governments who use them to de-risk exploration programmes and improve their management of natural resources, is pleased to announce the completion of a licence agreement for an integrated suite of geology, gravity and magnetic data and knowledge products.

This agreement will generate revenue of US$1.0 million, all of which will be recognised in the financial year ending 31^st December 2019. The delivery of this contract is in line with the Company's financial expectations for the current financial year.

Getech's Chief Executive Office, Jonathan Copus, commented:

"Having delivered significant first half growth in both our order book and our foundation of recurring revenue, our H2 sales and marketing campaigns are positioned to build on this momentum by aligning our high-value data products with our customers' operational priorities. Today's announcement is therefore a positive and material step along this path".

For further information, please contact:

Getech Group plc Jonathan Copus, Chief Executive		Tel:  [phone]
WH Ireland Limited Katy Mitchell		Tel:  [phone]

Notes to Editors:

The Getech Group provides the expertise, support and knowledge that companies and governments need to better discover, develop and manage natural resources. Our data-rich products, geospatial solutions and geoscience services help our customers to achieve their business goals of risk-management, cost control, operational excellence, regulatory compliance and environmental responsibility

For more information, please visit our website at www.getech.com.

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

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