Tekmar Share Discussion Threads

[cerrito] 14/3/2023 09:07

Had a good canter through the figures.
Great that they had a positive FCF as defined by operating cash flow and capex in the period.
Like most of you I quickly went to the Going Concern Statement and that like the rest of the report suggested to me that they can continue to limp along provided that the banks roll over the facilities-at least they do not have to worry about covenants.
This explains no doubt why they are taking their time to conclude discussions. I am interested that no industry partner have seen fit to make an offer.
I noted their comments about not having the financial resources to enter the fossil fuel market. I ask myself how much business is being lost because potential customers do not regard them as financially strong enough especially given the post sales service requirements. I thought their explanation of the contingent liabilities was plausible but something we need to have on our radar. I have no idea if their current plant needs modernising or expanding.
In short they do need to bolster their financial position and to have better shareholder communications. Too bad that broker Singer do not put their notes on Research Tree : that at the moment we have no IMC presentation: and while I have no problem having the AGM in Darlington too bad it is not later in the day so easier for people to make it. I cannot make that date anyhow.
I see that they are talking about revenue going up from £30m to £40m in the current 12 month period and eliminating last year's adjusted Ebitda loss of £2.1m
Ok as far as it goes but will not be able to generate the cash required from operations and the improvement seen in adjusted Ebitda in H2 of FY 21/22 will not be repeated.
I would feel more comfortable if they had a permanent CFO but can understand that no one would want to join at this stage.
Good that Schroders still in there with 20pc.
My basic issue continues to be that with a current Marcap of c£7m(feel free to check my maths), how can they raise the £3m they need to give them the required financial flexibility.

[harry_david] 13/2/2023 08:14

Are these guys insane? Why pursue a placement at around 8p when they can easily get one away at 12p or even higher. Besides existing shareholders will vote it down anyway.

[pejaten] 10/2/2023 13:36

Unless you have inside knowledge how an you tell? A strategic investor taking a stake at say 8p, does not necessarily mean that share price should be 8p. Suggests what matters more is detail about strategic ambition.

[chrisdgb] 10/2/2023 09:08

Price way too high.........

[volsung] 10/2/2023 09:02

Regained top place in my drawdown SIPP.
Hopefully new highs on the way

[indiestu] 06/2/2023 11:52

Looks like a break out back up to 40p.

[fishboy] 26/1/2023 18:44

No/low volume yesterday and today, tried a few dummy trades, the jobbers were good to buy 250,000 shares at 12, though I could only buy 1 share at 12.50 - all online.


So, I stick tight and wait',,,,

[cerrito] 17/1/2023 10:56

I have halved my holdings yesterday and today.
I have been trying to work out how much debt and equity they need. If you say they need £4m minimum equity at 8p a share that means a 50 pc increase in shares issued plus let us say £2m of very expensive debt. I admit that I may be wrong with the amount they need. Be interested to get a feel from others as to how much they think is needed.
I am also interested to see that as of Friday last Schroders were still trading ie had not been made privy to the discussions. They will need to sign off on any decision. I appreciate that if they were bought in they could not trade but not sure how much they could sell even if they wanted to.

[gopher] 16/1/2023 11:26

Need to get this to a conclusion as can't really buy stock in the interim. Todays announcement is neutral imo.

[stemis] 16/1/2023 10:32

Doesn't look like there has been a made rush to buy the company, at least not at a level which is preferable to selling part at around the current price. That does rather undermine the idea that TGP is a strategic asset in a growing industry, either for competitors or for those on other parts of the value chain...

[yump] 16/1/2023 10:15

That would have been a disaster as it would have been before the last significant contracts.

Funding for a business growing revenue in chunks is a lot easier than funding when nothing much announced.

[dangersimpson2] 16/1/2023 10:03

So they are giving up, probably 29.9% of the company at 8pish/share, in order to secure debt funding to keep them going, and still going to have significant debt.

They would have been better off skipping all this palaver and just had a discounted rights issue when they realised they had run out of cash.

[yump] 16/1/2023 08:32

I’d rather have that dilution than be swallowed up or delisted which would give no chance to benefit from any medium term growth.

Unfortunately Working capital is a problem for quite a few promising businesses at the moment.

[chrisdgb] 16/1/2023 08:06

Remember the price was 8/9p at the time of announcement.......

[yump] 16/1/2023 08:04

Looks like an energy infrastruture / renewables institutional invester. With retained listing that looks better than selling out completely to another business.

[volsung] 10/1/2023 08:38

TGP best performer in SIPP +67%

[chrisdgb] 10/1/2023 08:12

They really need to update on the strategic talks or else we have a danger of a false market......

[igoe104] 10/1/2023 07:38

"Tekmar Group" or the "Group")

New contract awards

Tekmar Group (AIM: TGP), a leading provider of technology and services for the global offshore energy markets, is pleased to announce that Group companies Pipeshield International Limited and Subsea Innovation Limited, have been awarded several significant contracts.

Pipeshield International Limited has been awarded multiple contracts from an offshore EPC contractor to provide pipeline support and protection materials for major subsea construction projects in the Middle East. The combined value of the projects is over GBP8 million with delivery expected in the first half of 2023. This builds on Pipeshield's extensive experience in the region and the contracts include the design, manufacturing and supply of concrete sleepers, concrete mattresses and associated equipment. The products will be manufactured at Pipeshield's regional supply bases in Damman (KSA) and Doha (Qatar).

Steven Howlett, Managing Director of Pipeshield, said: "The contracts help consolidate our position in the Middle East and create a basis for further regional expansion supporting our growth strategy. I congratulate the team on securing these projects, which are a testament to our subsea engineering and project management expertise, as well as our local manufacturing and supply chain capability".

Subsea Innovation has been awarded a significant contract for a bespoke turnkey launch and recovery (LAR) system. This builds on Subsea Innovation's extensive experience in the production of LARs systems and the scope of this contract includes the design and build of the A-frame, winch with interchangeable drum sets, hydraulic power unit (HPU) and transport frames. The contract value is approximately GBP2 million and is expected to be delivered by December 2023.

Dave Thompson, Managing Director of Subsea Innovation, said: "We are pleased that Subsea Innovation has been awarded this significant contract for bespoke mission equipment. This contract award further strengthens our position as a leader in the sector and supports the continued growth of our business. We are excited to work on this project and deliver exceptional results for our client."

[igoe104] 10/1/2023 07:34

Wow! Now winning contacts bigger than the companies market cap...👏 👏

[igoe104] 03/1/2023 16:33

News incoming soon, 60 day consultation period nearing an end.

[volsung] 03/1/2023 15:23

Now best performer in SIPP
Mote to come I hope

[harry_david] 30/12/2022 11:04

dave, I don't read it the way you do, we are just getting some end of year profit taking and the ones that have had the biggest rises attract the most selling.

[dave4545] 29/12/2022 09:30

It's done the same before.

Spiked to 16p then drifted all the way back to sub 8p.

Not surprised to see shanew48 posting, he is the ultimate sell signal on spike stocks

[igoe104] 29/12/2022 09:00

Crazy to see folks selling up, to make a quick buck. When around the corner TGP will be inundated with work..