GETECH Group plc Directorate Change (0564G)

TIDMGTC

RNS Number : 0564G

GETECH Group plc

03 August 2016

GETECH GROUP PLC

("Getech" or the "Company" or "the Group")

Appointment of new Chief Executive Officer

Getech plc (AIM: GTC), a leading provider of subsurface data and risk-management services to the natural resources industries, is pleased to announce the appointment of Dr Jonathan Copus as Chief Executive Officer with immediate effect. Jonathan succeeds Raymond Wolfson who stepped down from the Board on 31 July 2016.

Dr Copus brings extensive industry, corporate finance and capital markets experience having worked as an exploration geologist at Shell, as the top-rated Exploration & Production sell-side equity analyst at a number of City companies including Investec and Deutsche Bank and most recently as Chief Financial Officer at Salamander Energy plc, which was acquired by Ophir plc in 2015.

Stuart Paton, Chairman, said "I am extremely pleased to announce Jonathan's appointment as CEO of Getech. In February 2016 we set out to find a new CEO who brings direct industry experience and knowledge and who is capable of taking the company forward to the next stage of its development. Jonathan's professional training as a geologist, his industry experience with both super-major and UK-listed independent oil and gas companies, and his extensive City experience, makes him uniquely suited for this role. The board is very pleased that we have been able to attract an individual of this calibre to the role and look forward to working with him to grow the Group."

I would also like to reiterate our thanks to Raymond for his outstanding contribution and commitment to Getech over many years. His dedication and professionalism has continued in the last 6 months as we have undertaken the search for a new CEO. I am also very pleased that Raymond will be remaining with Getech in a part-time advisory role."

Jonathan Copus said "I am delighted to have the opportunity to lead Getech through what is a pivotal point in its growth story. I believe Getech is a company defined by the quality of both its people and products. From this foundation, and against a challenging market backdrop, the Group is committed to redoubling its efforts to find innovative ways to deliver fresh subsurface insights that lead to shared value creation across its broad customer base. With the recent acquisitions of ERCL and Exprodat further strengthening the Group's product offering I am excited by Getech's potential and I look forward to directing its future development."

Disclosures under the AIM Rules

Dr. Jonathan Michael Copus, aged 44, was previously a director of the following companies in the last five years:

Salamander Energy plc; Bontang Energy Limited*; Salamander Energy (Bengara) Limited; Salamander Energy (Bualuang) Limited; Salamander Energy (Bualuang Holdings) Limited; Salamander Energy (E&P) Limited*; Salamander Energy (Glagah Kambuna Holdings) Limited; Salamander Energy Group Limited; Salamander Energy (Holdco) Limited; Salamander Energy (Indonesia) Limited*; Salamander Energy (JS) Limited; Salamander Energy (Kutai) Limited*; Salamander Energy (Malaysia) Limited; Salamander Energy (North East Bangkanai) Limited; Salamander Energy (Philippines) Limited; Salamander Energy (S.E. Asia) Limited; Salamander Energy (S.E. Sangatta) Limited*; Salamander Energy (Simenggaris) Limited*; Salamander Energy (South Sokang) Limited*; Salamander Energy (Vietnam) Limited); and Salamander Energy (West Bangkanai) Limited

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

Jonathan does not hold any shares in the Company but will be granted options in the Company as defined below.

The Options

On his appointment, the Company will grant Jonathan Copus 1.4 million share options consisting of 1 million approved share options and 400,000 unapproved share options over ordinary shares in the Company .

These options become exercisable over a period of three years:

-- 500,000 are exercisable after the first anniversary of grant

-- 500,000 become exercisable after the second anniversary of grant

-- 400,000 become exercisable after the third anniversary of grant

All the options are exercisable pursuant to the provisions of the option scheme, are exercisable at a price of 24.5p per Ordinary Shares (being the closing price on 1(st) August 2016) and cannot be exercised later than the tenth anniversary of grant.

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

* indicates companies which, since 2015, have been renamed as Ophir Energy Group companies.

Enquiries:

 
Getech Group plc                                                                                    Tel: [phone] 
 Stuart Paton, Chairman 
WH Ireland Limited                                                                                  Tel: [phone] 
 Katy Mitchell 
 
 Notes to Editors: 
 Getech is a leading AIM-listed petroleum and minerals consultancy, focused on helping its 
 customers understand and evaluate the geological risks and opportunities associated with locating 
 and extracting natural resources. Best known historically for its unique global gravity and 
 magnetic data holdings, and more recently for the addition of its flagship knowledge base 
 'Globe', Getech's acquisition of ERCL in April 2015 and Exprodat in June 2016, has further 
 extended its capabilities. The Group's diverse and growing client base includes oil and gas 
 industry super-majors, independents, national oil companies, government petroleum agencies, 
 mining companies and new-ventures start-ups. For these clients, Getech works across a broad 
 spectrum of subsurface and data management problems; providing geosciences data, interpretation 
 products and services at a wide range of scales. 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 03, 2016 02:01 ET (06:01 GMT)