Result of Retail Offer

Further to the announcement by the Company in respect of the Retail Offer dated 9 August 2024 (the "Retail Offer Announcement"), Getech Group plc (AIM: GTC), a world-leading locator of subsurface resources, is pleased to announce that, following the closing of the Retail Offer on the BookBuild platform on 21 August 2024, the Company has conditionally raised total gross proceeds of £0.2 million (the "Retail Offer") by way of a successful subscription for a total of 10,000,00 Retail Offer Shares at the Issue Price of 2 pence per share in connection with the Retail Offer, which was significantly oversubscribed.

Allocations were made to existing Shareholders, applying the principles of soft pre-emption. Given the significant demand, existing Shareholders received 100 per cent. of their soft pre-emptive allowance, when their order matched or exceeded their soft pre-emptive allowance. Where the order was greater than the soft pre-emptive allowance shareholders received c.3.76% of their additional demand1.

Consequently, it is anticipated that 75,000,000 Placing and Subscription Shares and 10,000,000 Retail Offer Shares (together, the "New Ordinary Shares") resulting in a total of 85,000,000 New Ordinary Shares will be issued in relation to the Fundraising.

Completion of the Retail Offer is conditional, inter alia, upon approval of the Shareholders at the General Meeting to be held at 10.00 a.m. on 27 August 2024, the Placing becoming unconditional and on Admission of the New Ordinary Shares. It is expected that Admission of the New Ordinary Shares will become effective and that dealings will commence at or around 8.00 a.m. on 28 August 2024.

Following Admission of the New Ordinary Shares, the Company will have 152,474,375 Ordinary Shares in issue. The New Ordinary Shares to be issued, when issued, will be fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Richard Bennett, CEO of Getech Group plc, commented:

"We are pleased to have received good demand for this retail offer and to be able to ensure that all shareholders have had the opportunity to maintain their shareholdings. With the new capital raised, shareholders have strengthened the overall financial position of the business and provided the funds to invest behind growing Group revenues."

1 - Soft Pre-emptive allowance Calculation: Existing shares X 125.974 % (Dilution from total new shares being issued) = Soft Pre-emptive allowance allocation shares

Additional Demand: (Total Order shares - Soft Pre-emptive allowance allocation shares) x c.3.76% = Additional demand allocation shares