Last checked at 27 Apr 2021 07:00
27 April 2021
Getech Group plc
("Getech" or the "Company")
Board Change and Extension of Options
Getech, a provider of data, knowledge and software to the energy industry, is pleased to announce that, further to the announcement of 28 January 2021, following a handover period with Dr Stuart Paton, Richard Bennett has assumed the position of Non-Executive Chairman of Getech.
Dr Paton will continue as a Non-Executive Director of the Company and as Chairman of H2 Green Limited, Getech's recently acquired subsidiary which is focussed on establishing a network of large-scale hydrogen generation, storage and refuelling hubs to support public and commercial transport fleets. Dr Paton will therefore continue to be involved with the Company, ensuring the retention of his experience and skills developed over the 10 years that he has been part of the Board.
Dr Stuart Paton has options over ordinary shares of 0.25p in the Company ("Ordinary Shares") that expire on 27 April 2021. The Company has agreed to extend the period that Dr Paton has such options by one year. To this effect, the company has granted new options over Ordinary Shares, in place of the existing options, to have effect from 27 April 2021, and that the expiry date for the options over the Ordinary Shares shall be 27 April 2022. All the remaining terms that applied to the previous options, including the vesting criteria, are contained in the new options.
Director | Number of Shares | Exercise Price | Previous Expiry Date | New Expiry Date |
Dr Stuart Paton | 900,000 | 17.50p | 27 April 2021 | 27 April 2022 |
For further information, please contact:
Getech Group plc Jonathan Copus, Chief Executive
| Tel: 0113 322 2200 |
Cenkos Securities plc Neil McDonald / Pete Lynch (Corporate Finance) Michael Johnson / Julian Morse (Sales)
|
Tel: 0207 397 8900 |
Camarco James Crothers / Ollie Head / Toby Strong |
Tel: 020 3781 8331 |
Notes to editors:
Getech (AIM: GTC) has a well-established position within the global energy market, assisting clients with its unique combination of products and services, that utilise the Group's sub-surface skills and geospatial design and implementation capabilities alongside a deep knowledge and understanding of how to deploy data.
The Company is leveraging its strong market position, utilising its existing expertise, and targeting additional commercial opportunities, to de-risk and accelerate the global transition to renewable sources of energy while strengthening its existing and well-established business.
Getech is listed on the AIM market of the London Stock Exchange. For further information, please visit www.getech.com
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Stuart Paton | ||||||
2. | Reason for the Notification | |||||||
a) | Position/status | Non-Executive Chairman
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b) | Initial notification/amendment | Initial notification
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Getech Group plc
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b) | LEI | 213800L36BCDMGT89738
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4. | Details of the transaction(s):section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted | |||||||
a) | Description of the Financial instrument, type of instrument | Ordinary shares of no par value | ||||||
Identification code | GB00B0HZVP95 | |||||||
b) | Nature of the Transaction | Extension of share option expiry date
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c) | Price(s) and volume(s) |
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d) | Aggregated information Aggregated volume Price | - | ||||||
e) | Date of the transaction | 26 April 2021
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f) | Place of the transaction | N/A
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