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Share Name Share Symbol Market Type Share ISIN Share Description
Tekmar Group Plc LSE:TGP London Ordinary Share GB00BDFGGK53 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.50 0.93% 54.50 53.00 56.00 54.50 53.00 53.00 189,010 12:39:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil Equipment Services & Distribution 40.9 2.0 3.9 14.2 28

Tekmar Group Shares Fall Amid Wind-Farm Cable Issues

04/05/2021 9:32am

Dow Jones News


Tekmar (LSE:TGP)
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By Adria Calatayud

 

Shares in Tekmar Group PLC fell Tuesday after the company said that it is in discussions with Orsted AS to identify the cause and remedies for wind-farm cable issues flagged last week by the Danish renewable-energy developer.

Tekmar, a London-listed provider of technology and services for the global offshore energy markets, said it doesn't anticipate a material financial impact in relation to its discussions with Orsted. Tekmar said the discussions relate to Orsted's installed array cables on the Race Bank offshore wind-farm project in the U.K., with the main issue being the abrasion of cable-protection systems.

"The installation and maintenance of cables and cable protection systems in challenging subsea environments is complex and failure can be the result of many factors, including areas we are not involved in such as installation and scour protection," Tekmar Chief Executive Ally MacDonald said.

Shares in Tekmar at 0758 GMT were down 10% at 53 pence.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

May 04, 2021 04:17 ET (08:17 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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