Source - LSE Regulatory
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 c£0.6m (the "Disposal").

The Disposal will result in the Northstar software, and its development team, being transferred to QinetiQ effective 1st 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


 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DISUARBRUUUOOAR
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.