RNS Number : 8530G
TP Group PLC
01 April 2022
TP Group plc
("TP Group", "the "Company" or the "Group")
Sale of Northstar Autonomous Navigation Software
TP Group (AIM: TPG), announces today that, following the strategic review of the Group's consulting and software capabilities in relation to its wider strategy as announced on 1 November 2021, the Board has agreed to sell its Northstar autonomous navigation software to QinetiQ Limited a subsidiary of QinetiQ Group PLC ("QinetiQ") for a cash consideration of c£0.6m (the "Disposal").
The Disposal will result in the Northstar software, and its development team, being transferred to QinetiQ effective 1st April 2022.
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TP Group plc
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Tel: 01753 285 810
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Martyn Ratcliffe, Executive Chairman
Derren Stroud, Chief Financial Officer
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www.tpgroup.uk.com
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Cenkos Securities plc
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Tel: 020 7397 8980
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Stephen Keys / Mark Connelly / Callum Davidson
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www.cenkos.com
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