Getech Grp Regulatory News (GTC)

4 Sep 2008 15:45



GETECH Group plc 

("GETECH" or the "Company")

Appointment of a Director:

Execution of Services Agreement

GETECH announces that it has today entered into a services agreement with IP2IPO Limited (part of IP Group plc, a substantial shareholder in the Company) (the "Services Agreement"). Pursuant to the terms of the Services Agreement, IP2IPO Limited will provide, amongst other things, advice as to acquisitions, strategy and investments and a suitably experienced non-executive director. 

Accordingly, GETECH also announces the appointment of Charles Tavner as a non-executive director of the Company with immediate effect. 

Charles Alexander Tavner, aged 33, is a Partnership Director at IP Group plc. He has experience in identifying and commercialising a diverse range of new technologies, encompassing oil and gas exploration, energy storage, software and medical devices and managing companies in a senior capacity.

He was previously a director of ReDimenion Limited and is currently a director of Nanotecture plc, Athena3D Limited and Encos Limited.

He is not, and has not been in the past five years, a director or partner of any other company or partnership.

Charles does not hold any shares in the Company, but IP Group plc, on whose behalf he is appointed, holds 5,590,866 ordinary shares in the Company representing 20.19% of the total number of shares in issue.

There is no further information required to be disclosed in accordance with Schedule 2, paragraph (g) of the AIM Rules for Companies.

Raymond Wolfson, Chief Executive, commented "The Company has had a long and fruitful relationship with IP Group, originating in its links with Techtran (which was acquired by IP Group), and has valued their advice and support. We are pleased to welcome Charles Tavner to the board, and believe that this new arrangement will assist the Company at a key time in its plans for growth, both through acquisitions and organically."

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