Getech Grp Regulatory News (GTC)

08 October 2024

Getech Group plc

("Getech" or the "Company")

Directorate Change

Getech, a world-leading locator of subsurface resources, today announces that Andrew Darbyshire has notified the Board of his decision to step down as Group CFO and Director on 31st October 2024. Getech has made an internal appointment to the role of Director of Finance to manage the day-to-day finance functions, and is actively recruiting an interim CFO. Further updates will be made in due course.

Michael Covington, Getech Chair commented:

"The Board and I are immensely grateful for Andrew's unstinting service and contribution to Getech over the past ten years and we wish him every success in his next chapter. Andrew has played an instrumental role in the Group's efforts to deliver significant cost reductions whilst also growing recurring revenues. Andrew has played a significant part in Getech's successful diversification into the energy transition and the introduction of a new equity participation structure that focusses on natural hydrogen."

Andrew Darbyshire commented:

"In my ten years at Getech, I am proud of how the business has been transformed to become a significant facilitator of the energy transition; Getech's team of world leading geoscience and geospatial experts has taken its unique products and solutions, originally developed for the petroleum industry, and has repurposed them to also locate natural hydrogen, critical minerals and geothermal energy sources.

With the recently-strengthened balance sheet, the business is well placed to take advantage of new opportunities in these areas, and is now funded to expand its sales and data science teams. Whilst I have personally decided that it is the right time to take up a new challenge, I have every confidence that Getech is in a strong position for future growth."

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Notes to editors:

Getech Group plc (AIM: GTC) applies its world-leading geoscience data and unique geospatial software products to accelerate the energy transition by locating, developing and operating geoenergy and green hydrogen projects.

For further information, please visit www.getech.com.