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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 9.25 | 9.00 | 9.50 | 9.25 | 9.25 | 9.25 | 105,538 | 07:30:33 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Water,sewer,pipeline Constr | 30.19M | -5.13M | -0.0377 | -2.45 | 12.59M |
From Apr 2019 to Apr 2024
TIDMTGP
RNS Number : 0752R
Tekmar Group PLC
26 February 2019
26 February 2019
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
TEKMAR GROUP PLC
("Tekmar Group", the "Group" or the "Company")
Contract win for remedial work
Tekmar Group (AIM: TGP), a market-leading technology provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services, is pleased to announce that Tekmar Energy has signed a remedial contract worth c.GBP3 million for execution over the next six months.
The contract is for bespoke remedial cable protection systems for replacement subsea cables to be installed on an existing UK offshore wind farm.
Commenting on the project win, James Ritchie, Tekmar Group CEO said:
"This is an important project for the Group. It is Tekmar Energy's first significant contract for work which will be undertaken within the operational phase of a windfarm, rather than our usual build phase contracts. It is also one of the biggest individual contracts Tekmar Energy has won this financial year and was secured through company synergies, product offering and flexibility. Tekmar Energy was not previously involved in this project and the win demonstrates that there are many new opportunities for the Group in existing wind farms."
"AgileTek provided technical analysis to help identify the root cause and Tekmar Energy are providing proprietary cable protection technology. This demonstrates how the Group's businesses work together to support our vision of becoming our customer's partner of choice for subsea protection."
Enquiries:
Tekmar Group plc James Ritchie-Bland, Chief Executive Officer Sue Hurst, Chief Financial Officer +44 (0)1325 379 520 Grant Thornton UK LLP (Nominated Adviser) Philip Secrett / Jen Clarke +44 (0)20 7383 5100 Berenberg (Broker) Chris Bowman / Ben Wright / Laure Fine +44 (0)20 3207 7800 Belvedere Communications (Financial PR) +44 (0) 20 3687 2750 Cat Valentine (cvalentine@belvederepr.com) +44 (0) 7715 769 078 Llew Angus (langus@belvederepr.com) +44 (0) 7407 023 147
About Tekmar Group plc - https://investors.tekmar.co.uk/
Tekmar Group plc's vision is to be the partner of choice for the supply and installation support of subsea protection equipment to the global offshore energy markets. The Group has three primary operating companies; these are Tekmar Energy Limited, AgileTek Engineering Limited and Subsea Innovation Limited.
Tekmar Energy is a global market leader in subsea cable, umbilical and flexible pipe protection systems. Tekmar have been trusted to protect billions of Euros worth of assets in the offshore wind, oil & gas, wave, tidal and interconnector markets since 1985: https://www.tekmar.co.uk/
AgileTek Engineering is an award-winning subsea engineering consultancy. AgileTek de-risks offshore projects through advanced computer simulation and analysis: https://agiletek.co.uk/
Subsea Innovation is a global leader in the design, manufacture and supply of complex engineered equipment and technology used in the offshore energy market. Its products include large equipment handling systems which operate on the back of pipelay installation vessels; emergency pipeline repair clamps (EPRC) which protect major oil and gas pipelines, and bespoke equipment for use in the construction of offshore energy projects: https://www.subsea.co.uk/
Tekmar Energy and Tekmar Group plc are headquartered in Newton Aycliffe in the United Kingdom; AgileTek operates from an office in London; Subsea Innovation have their head office and manufacturing centre in Darlington, United Kingdom. Tekmar Group plc also has representation in South Korea, USA, China and the Middle East.
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.
END
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(END) Dow Jones Newswires
February 26, 2019 02:01 ET (07:01 GMT)
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