TP Group PLC Disposal (8530G)
01 Abril 2022 - 12:00AM
UK Regulatory
TIDMTPG
RNS Number : 8530G
TP Group PLC
01 April 2022
TP Group plc
("TP Group", "the "Company" or the "Group")
Sale of Northstar Autonomous Navigation Software
TP Group (AIM: TPG), announces today that, following the
strategic review of the Group's consulting and software
capabilities in relation to its wider strategy as announced on 1
November 2021, the Board has agreed to sell its Northstar
autonomous navigation software to QinetiQ Limited a subsidiary of
QinetiQ Group PLC ("QinetiQ") for a cash consideration of cGBP0.6m
(the "Disposal").
The Disposal will result in the Northstar software, and its
development team, being transferred to QinetiQ effective 1(st)
April 2022.
TP Group plc Tel: 01753 285 810
Martyn Ratcliffe, Executive Chairman
Derren Stroud, Chief Financial Officer
www.tpgroup.uk.com
Cenkos Securities plc Tel: 020 7397 8980
Stephen Keys / Mark Connelly / Callum
Davidson
www.cenkos.com
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END
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