REG - Tekmar Group PLC - New Contract Award

TekmarAnnouncement

03/07/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240703:nRSC8867Ua&default-theme=true

RNS Number : 8867U  Tekmar Group PLC  03 July 2024

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR. Upon the publication of this announcement via a Regulatory Information
Service, this inside information is considered to be in the public domain.

 

 

TEKMAR GROUP PLC

("Tekmar Group", "Tekmar" or the "Group")

 

New Contract Award

 

Tekmar Group (AIM: TGP), a leading provider of products and solutions for the
global offshore energy market, announces a significant contract award with a
value in excess of €4 million.

 

The contract is for the design and supply of Tekmar Group's flagship
Generation 10 cable protection system (CPS) product and associated
ancillaries. The CPS units will be installed throughout a European wind farm
project, which is part of a larger regional development. The CPS units will be
manufactured at the Group's Newton Aycliffe, United Kingdom facility. Tekmar
Group will utilise its in-house subsea analysis capabilities and experience to
support the project. The project will commence immediately and be delivered in
December 2025.

 

Alasdair MacDonald, CEO of Tekmar Group, said "This contract, where we are
partnering with a new customer, is testament to our strong in-house
engineering capabilities, which enable us to address customers' complex
engineering requirements and optimise and de-risk projects. The award helps
consolidate our strong position in the European offshore wind market and
reflects the strength of our working relationships with project developers and
key supply chain partners. We look forward to supporting our partners in
successfully delivering this project."

 

Enquiries:

 

 Tekmar Group plc                                              Via Gracechurch Group

 Alasdair MacDonald, CEO

 Leanne Wilkinson, CFO

 Singer Capital Markets (Nominated Adviser and Joint Broker)   +44 (0)20 7496 3000

 Rick Thompson / Sam Butcher

 Berenberg (Joint Broker)                                      +44 (0)20 3207 7800

 Ben Wright / Ciaran Walsh

 Gracechurch Group (Financial Media & Investor Relations)      +44 (0)204 582 3500

 Murdo Montgomery / Heather Armstrong

 

 

The person responsible for arranging the release of this announcement on
behalf of Tekmar is Leanne Wilkinson, Chief Financial Officer.

 

About Tekmar Group plc

 

Tekmar Group plc (AIM: TGP) collaborates with its partners to deliver robust
and sustainable engineering led solutions that enable the world's energy
transition.

 

Through our Offshore Energy and Marine Civils Divisions we provide a range of
engineering services and technologies to support and protect offshore wind
farms and other offshore energy assets and marine infrastructure. With nearly
40 years of experience, we optimise and de-risk projects, solve customers'
engineering challenges, improve safety and lower project costs. Our
capabilities include geotechnical design and analysis, simulation and
engineering analysis, bespoke equipment design and build, subsea protection
technology and subsea stability technology.

 

We have a clear strategy focused on strengthening Tekmar's value proposition
as an engineering solutions-led business that offers integrated and
differentiated technology, services and products to our global customer base.

 

Headquartered in Newton Aycliffe, UK, Tekmar Group has an extensive global
reach with offices, manufacturing facilities, strategic supply partnerships
and representation in 18 locations across Europe, Africa, the Middle East,
Asia Pacific and North America.

 

For more information visit: www.tekmargroup.com (http://www.tekmargroup.com)

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTFFFIFDLIFIIS