Tekmar Share Discussion Threads

[elsa7878] 29/9/2020 15:52

Yes - nearly a month ago and they need to be doing circle £4 million a month. Clearly might be winning lots of small contracts but larger ones announced in September were signed and announced on their website in July and August. Since then nothing new. Understand contracts are lumpy.

[thomshrike] 29/9/2020 15:51

Soulcold, can you provide more info on that?

[igoe104] 29/9/2020 15:48

You would have thought, one of the many funds would have mopped up the seller. Very strange frustrating fall....

[thomshrike] 29/9/2020 15:45

There was an announcement of new contracts on Sep 3.

[elsa7878] 29/9/2020 15:43

Sure but no news on meaningful contract wins since their last statement....

You can find out what's being offered....I'm interested at these levels but a little wary of serial disappointments and the CEO walking.

[soulcold] 29/9/2020 15:41

Your guess may prove to be correct however the last three major CPS contracts placed by Seaway7 have been secured by competitors of Tekmar.

[thomshrike] 29/9/2020 15:28

That's a good point on the AGM. Their last release to the market was on Aug 3. Difficult to see how their view on the business could have changed materially since then, so fingers crossed for a reassuring statement (if any).

If and when a takeover offer comes, my guess on the suitor would be Subsea 7.

[elsa7878] 29/9/2020 15:16

AGM tomorrow - so must make some sort of statement....

Only an indirect holding for me via a managed fund - but with even the CEO of BP talking about the secular growth for the alternative energy market, this hitting new lows is not encouraging.

[1tommyt] 29/9/2020 15:15

Hello Tom, I very much agree with you.The CEO departure at some stage was inevitable, he started it as entrepreneur and has now passed to the Chairman with more experience.The renewables offshore market is going up from my notes >30% per year, and this business remains broadly debt free trending at less than 5X.Balance sheet alone has above 60£m! Takeover??? Big oil player wants in on more renewable activity???

[thomshrike] 29/9/2020 09:54

From recent conversations, the drop seems to be related to two kinds of issues:

(i) lingering concerns about the timing of James's departure (as I mentioned before in this forum, I believe those concerns are overdone).
(ii) the move into oil&gas: weaker market these days + less appealing to ESG funds + weight speculated to increase if the Chairman moves to a permanent CEO role (due to
his cv, but although he says that will not be the case).

Overall, for the time being, the share price weakness does not seem to be related to the current situation of the business. The company is now trading at ev/ebitda below 5x, with strong secular trends supporting it.

[leedslad001] 29/9/2020 08:53

Just moving on small volume and mm,s know there is a seller in the background. I've just added again.

[pugugly] 29/9/2020 08:47

Going down the drain faster and faster - Bid now 72p - Anyone aware of any sell tips or rumours in the market?

[leedslad001] 28/9/2020 18:35

Gives us more time to accumulate at a decent price

[igoe104] 28/9/2020 17:26

Its looks like it's one of the funds, at least the idoit is selling at a big loss.

[leedslad001] 28/9/2020 17:18

Still got the seller off loading 5k at a time.

[thomshrike] 25/9/2020 15:27

Tekmar will attend the next Berenberg UK Opportunities on October 15th. It will be the first time for many investors to meet new management.

[leedslad001] 25/9/2020 15:06

Another 2800 @ 82.40 buy and tuck away for 6 months

[leedslad001] 24/9/2020 13:23

10000 for me @83 looks too cheap

[jonwig] 24/9/2020 10:22

Add up the holdings in the header gives around 88%. Maybe 3% in directors' hands.

So PIs are trading only 10% or so. Hence thin market and a potential bidder need only convince a few holders. Directors will be short of influencing votes.

[1tommyt] 24/9/2020 10:12

Sorry what does that mean?

[jonwig] 23/9/2020 16:20

Added to header - some 88% in insti hands, negligible in directors/ex dirs.

[pugugly] 23/9/2020 15:39

If Schroder's buying might be an opportunity for PI's to enter or top-up.

[igoe104] 23/9/2020 15:32

Looks like we have a fund offloading, they must be desperate selling at these levels.

[rambutan2] 23/9/2020 15:27

Schroder adding a few and going over 14%:

[elsa7878] 22/9/2020 17:33

More buys than sells and taken down on low volume so must be a largish seller in the background.