Getech Grp Regulatory News (GTC)

Getech Group plc

("Getech" or the "Company")

Management reorganisation and Directorate change

Getech (AIM; GTC), a provider of data, studies and services to the natural resources and energy sectors, has today initiated a management reorganisation. The purpose of this reorganisation is to create a simplified reporting structure that improves staff mobility across the Group offices and expands the strategic and commercial role of Product and Services Managers. As Getech diversifies its activities into new areas of the upstream oil & gas operational life-cycle and looks to apply its core technical skills to new business sectors, the modified reporting structure will ensure greater internal focus on designing our products and services to meet the commercial needs of our customers.

Separately, Dr Paul Markwick, Getech's Technical Director, has informed the Board that he intends to leave the Getech Group and will resign as a Board Director on 31st January 2017 at the end of Getech's current financial half-year.

Management Reorganisation

Getech has expanded its operations across a series of strong and complimentary business lines through a number of counter-cyclical acquisitions. Today's reorganisation creates a Group-wide structure that cuts across the heritage of the acquisitions. These changes will allow Getech to leverage its core staff skills and to place product development and service delivery at the heart of our day-to-day activity.

Within the newly defined Products Division, core 'multi-client' activities such as Globe, Regional Reports and Gravity & Magnetics data sales are now aligned with the Group's software and GIS expertise under the leadership of Chris Jepps. As the Products Director, Chris will work in close collaboration with each Product Manager to ensure the technical quality, functional clarity and practical commercial value of Getech's product offerings. His team will also be responsible for enhancing the delivery and accessibility of Getech's products with the aim of making every product that we produce a core part of our customers' work flows.

Alongside the Products Division, the management of Getech's proprietary consulting activities will be unified within a single Services Division to be led by Richard Heath. Richard brings to this role an exceptional track record in the delivery of a wide range of innovative consulting activities to both listed and National Oil Company customers.

Stuart Paton, Chairman of Getech Group plc, said: ""Firstly, I would like to thank Dr Paul Markwick for his immense contribution and commitment to Getech over the last 12 years. His technical drive has been invaluable in creating our industry leading Globe product and more broadly to the Group. The Board wish him all the very best for the future.

The organisational changes announced today are the next step in creating a company positioned for growth in the coming years in both our core area of upstream exploration and in new business streams. The Board considers that that these changes, with an increased focus on creating products and services with clear and practical commercial value to our existing and new clients, are critical for this growth. We remain confident for the prospects for the Group in the year ahead."

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