Getech Group plc – 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 31st July 2017. This contract is in line with the Company’s financial expectations for the current financial year.

Getech’s Chief Executive Officer, 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.

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