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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April 01, 2022 02:00 ET (06:00 GMT)

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