REG - Tekmar Group PLC - Property Disposal

TekmarAnnouncement

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RNS Number : 7827U  Tekmar Group PLC  27 February 2026

 

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", the "Company" or the "Group")

 

Property Disposal

 

Tekmar Group plc (AIM: TGP), a leading provider of asset protection technology
and offshore energy services, is pleased to announce it has today completed
the sale of Innovation House and adjacent land (the "Property"), the former
Subsea Innovation Limited ("SIL") freehold premises (the "Disposal").

 

The consideration payable in cash (net of fees) at completion is £2.84m,
in-line with the net book value of £2.84m as at 30 September 2025, the latest
valuation date prior to the Disposal. The cash proceeds will be used to
support the Group's growth and general working capital requirements. Given the
consideration is in-line with the net book value of the Property, there is no
profit or loss on disposal for the Group.

Tekmar vacated the premises in 2024 following the disposal of SIL with the
Property subsequently recorded in the accounts as an asset held for sale. In
the year ended 30 September 2024, the Property did not generate any income for
the Group. The property is being acquired by Trackwork Group Limited.

 

Richard Turner, CEO of Tekmar, commented: "We are pleased to have completed
the disposal of this surplus property. This transaction is an important
milestone for Tekmar, significantly bolstering our improving balance sheet,
streamlining our asset base and providing additional headroom to support our
disciplined investment and growth under Project Aurora."

 

Enquiries:

 

 Tekmar Group plc                                              c/o +44 (0)20 4582 3500
 Richard Turner, CEO

 Phil Lanigan, CFO

 Cavendish Capital Markets Limited (Nomad and Broker)          +44 (0)131 220 9772
 Peter Lynch

                                                             +44 (0)131 220 9771
 Neil McDonald

                                                             +44 (0)131 220 9775
 Pearl Kellie

 Gracechurch Group (Financial Media & Investor Relations)      +44 (0)20 4582 3500

 Murdo Montgomery

 Alexis Gore

 

About Tekmar Group plc

 

Tekmar Group plc 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 near 40
years of experience, we optimise and de-risk projects, solve customer's
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 which 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/)

 

 

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