REG - GETECH Group plc - Directorate Change

GetechAnnouncement

15/02/2023 07:16

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RNS Number : 9350P  GETECH Group plc  15 February 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN

 

15 February 2023

Getech Group plc

("Getech" or the "Company" and with its subsidiaries "the Group")

Directorate Change

 

Getech (AIM: GTC) a company that locates energy and minerals essential to the
energy transition, today announces that Dr Jonathan Copus has notified the
Board of his decision to step down as Group CEO and Director on 28 February
2023, following which he will be available to the Board and the executive team
to ensure a smooth and successful handover.

As of today's date, Richard Bennett will assume the role of interim Executive
Chairman, Mr. Bennett joined the Board of Directors in January 2021 as
Non-Executive Chairman, bringing extensive experience in technology and
renewable energy.

Getech has commenced a search for a new CEO and will update the market on the
results of this search in due course.

Richard Bennett, Getech Chair commented:

"The Board and I would like to thank Jonathan for his seven years of service.
Jonathan has successfully repositioned Getech's business and applied the
company's geoscience and geospatial expertise to new markets within the energy
transition, in particular the search for critical minerals, geothermal,
hydrogen and carbon storage projects. The products and solutions developed are
vital for these fast-growing sectors and form the foundation for the future
growth of the Company. We thank Jonathan for his time and dedication to Getech
and wish him every success with his future ventures."

Dr Jonathan Copus commented:

"In my time as Getech's CEO, I am proud of how the business has transformed
into a champion of the energy transition, taking unique products and solutions
that we built for the petroleum industry, and revolutionising their use to
locate geothermal, carbon storage, hydrogen and critical mineral assets.

Since raising growth capital in 2021, we have increased revenue by 40% and
significantly diversified and decarbonised the sources of this revenue - with
over 33% now coming from non-hydrocarbon origin. Underpinning this is an
orderbook that has grown by 70%, to a record high, and Getech has begun 2023
with a strong asset-backed balance sheet. I have personally decided that now
is the right time for me to take up a new challenge. The Company is in a
strong position, and I am certain it will thrive under new leadership."

Additional information

Richard Bennett has extensive business and listed company experience over a
career spanning 30 years. During that time, he has worked for General Electric
in Asia and the US and co-founded and listed on NASDAQ J2Global, an internet
telecoms business currently valued at $4.3 billion. He has worked in
executive, chairman and non-executive roles with a series of highly successful
growth focused technology and clean energy companies, including the AIM-quoted
wireless technology company, MTI Wireless Edge.

For further information, please contact:

 

 Getech Group plc                                 Tel:  0113 322 2200

 Irina Logutenkova, Head of Investor Relations

 Cenkos Securities plc

 Neil McDonald / Pete Lynch (Corporate Finance)   Tel:  0207 397 8900

 Michael Johnson / Dale Bellis (Sales)

    Camarco                                       Tel: 020 3781 8331

 Tom Huddart / Toby Strong / Charles Dingwall

 

Notes to editors:

 

Getech Group plc (AIM: GTC) generates revenue by locating new energy and
mineral resources using its proprietary Earth digital twin. The Group works
for governments and companies who seek to decarbonise their operations. Getech
expanded the use of data and technologies built for petroleum industry to
critical minerals, geothermal, hydrogen, carbon storage. Getech's work builds
strategic partnerships that open early-stage asset opportunities. In exchange
for locating assets Getech may seek a carried interest during the development
phase and option to monetise the position.

 

For further information, please visit www.getech.com (http://www.getech.com/)
.

 

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