Substantial Sale of Data and products

RNS Number : 3817F

GETECH Group plc

17 May 2017

 

Getech Group plc

("Getech" or the "Company")

Substantial sale of data and products

Getech (AIM; GTC), a provider of products and services to companies and governments working with natural resources, announces the sale of a suite of geology, gravity and magnetic data and products.

Under a licence agreement signed with a leading global resource company, Getech has sold its Earth Systems Modelling product, Depth to Basement data, a package of Gravity and Magnetic data and a resubscription to Globe.

This sale will generate gross income of US$900,000, the majority of which will be recognised within the financial year ending 31^st July 2017. This contract is in line with the Company's financial expectations for the current financial year.

Getech's Chief Executive Office, Jonathan Copus, commented: "The breadth and diversity of the data and products sold under this licence agreement illustrate Getech's ability to provide innovative, data-rich, information assets to our customers; our aim being to create value through new business insights."

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 is a leading AIM-listed supplier of products and services to companies and governments working with natural resources. We provide knowledge, expertise and insight that allows our growing customer base in the oil and gas, mining, nuclear and water industries to make better decisions. ​

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

 

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