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Where will the share price go with 30% dilution at 9p? Do you have an idea of what Monday brings?
A few us of are loaded up so just waiting for the expected news. No fear my side :)
Very quiet board will little volume. No one is trading this as the risk is rather unknown. I don't think that 9p a share is a good deal. If the board accepts then there are financial liabilities that aren't completely disclosed. When I fully understood the reason for the FSP, it didn't seem safe.
I struggled to buy shares the afternoon. Either MM’s are short on shares, or they’re refusing to let their bookstock go for in the event news lands IMO.
This time next week will all be millionaires said Northeast.
GLA
Forgot to add these:
Jan 23 - Award of several significant contracts. Including 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 £8 million with delivery expected in the first half of 2023.
Jan 23 - Subsea Innovation awarded a significant contract for a bespoke turnkey launch and recovery (LAR) system. The 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 £2 million and is expected to be delivered by December 2023.
Big Money Contract Wins for Tekmar
Just a few of many:
1. Dec 22 - Award to design, manufacture, and supply of 172 Cable Protection Systems ("CPS") to Dogger Bank C (UK). Delivery Q3 2024 into 2025.
2. July 22 - Award of integrated engineering solution, including CPS and Cable Hang-Off Clamps, for an offshore wind farm project in Japan. Delivery 2023.
3. May 22 - Award of integrated engineering solution, including CPS, for an offshore wind farm project in the U.S. Delivery 2023.
4. Jan 22 - Award to provide pipeline support and protection materials for a major subsea construction project in the Middle East. The contract award is for a value in excess of USD 10 million and is anticipated to be delivered in the Group’s current financial year ending 30 September 2022.
5. Dec 21 - Award to design, manufacture, and supply 380 Generation 10 TekTube CPS, to protect subsea array cables on the first two phases for Dogger Bank A and B. Delivery August 2022 into 2024.
6. Nov 21 - Award for Parkwind's German Offshore Wind Farm to design, manufacture, and supply TekTube CPS to protect the wind farms array cables as they transition from the seabed into the wind turbine foundation at 27 separate locations. Delivery in 2022 for full operation in 2023.
7. Nov 21 - 340 export and array CPS's for Ørsted's Hornsea Two offshore wind farm in the UK. Commissioning in 2022.
8. Sept 21 - Award to design, manufacture, and supply Bend Restrictors for the KBH02 “København02” submarine cable project in Denmark, to protect a 145kV cable system connecting the Amager waste-to-energy power plant to Svanemølle substation. Plus the supply of Bend Restrictors to protect a 70km subsea power cable connecting the 330-MW Kafireas II wind farm on Evia Island to mainland Greece. Delivery Q3 2021.
9. Sept 21 - Award from Strohm to design, manufacture and supply a subsea protection and buoyancy solution for a Thermoplastic Composite Pipe ("TCP") Jumper. Delivery Q4 2021.
10. June 21 - Award to engineer, manufacture, and supply over 250 of its patented Cable Protection Systems for four new offshore wind farm projects in China in 2021.
11. April 21 - Award to supply CPS's for the Gode Wind 3 high-voltage grid connection project at Orsted's Wind 3 facility in Germany. Delivery 2022-23.
12. Feb 21 - Award to supply CPS's for RWE's Kaskasi offshore wind farm in the German sector of the North Sea. Delivery 2021-22.
13. Jan 21 - Award to to provide CPS's to be deployed at the Neart na Gaoithe (NnG) offshore wind farm in the Firth of Forth, Scotland. Delivery 2021.
14. Jan 21 - Award to supply CPS for a contract sum estimated in excess of £4.5 million. Delivery September 2021.
15. Jan 21 - Award to Pipeshield International Limited, to design, engineer, and manufacture a subsea scour protection solution for a major quay development project valued at more than £4 million.
Hopefully a company as interesting as Siemens
Its been a long wait. Or maybe just feels like it because of the endless 8.5's rns'
If nothing Monday I'll be ticked off
Enough already
Have seen Siemens mentioned but assume that would be too good to be true
Investment from a partner that can provide significant distribution would really see the SP climb. The additional 14 days is probably just to get the contract signed off within what is presumably a large (slow moving) corporate.
How do you know? Could be another week? They are stalling for time it seems. Tekmar seems very keen so who knows what will happen...
News Monday
Yes the extension on the extension runs out on the 13th. Hopefully see a nice rise before the news
News expected by the 13th isn't it? Be interesting to see what the market thinks of any news coming if there is a climb in the share price all next week.
I hope not they put the company up for sales months ago. Some big contracts since. Company is undervalued and a rerate is in order
I do hope they, pick up speed,
I’m thinking they will say, we had some interest, we want more.
Very slow. I think everyone is just waiting on news now
Just the one trade so far today or something going on?
Hopefully, will know one way or another by Monday 13th
Strong order volume today. News this week?
Jeremy Hunt has revealed that the UK is sitting on an energy goldmine, as wind power has generated record amounts of energy in the past year. In a keynote speech at Bloomberg's European headquarters in London, the Chancellor delivered an upbeat message as he unveiled his plan to turbocharge Britain's economy.
Mr Hunt hailed the UK's renewable energy industry as a "big growth area", which he estimates could be worth a trillion pounds by the end of the decade.
https://www.msn.com/en-gb/money/other/hunt-unveils-uk-s-hidden-gem-in-energy-crisis-after-60-of-electricity-generated-by-wind/ar-AA16O6vq?ocid=msedgntphdr&cvid=254e4d23eefa4eb0944644d5e9422cc0
Will we get news or wait another 14 days. That is the questions
Yep, tbf the company SP was doing quite well until they announced they were considering a sale. Cancel the sale and all is restored :)
Really interesting post, could scrapping the deal see a reversal. This hadn’t crossed my mind until reading that. Very interesting.
GL
Based on the last available accounts we can set up the following calculations:
Current assets(£m) = 29.32
Non-current assets excl. intangibles(£m) = 5.42
Current liabilities(£m) = 14.97
Non-current liabilities(£m) = 3.77
Number of shares(m) = 60.96
Tangible equity(£m) = 16.00 (27 pence/share)
Net-current asset value(£m) = 10.6 (18 pence/share)
Tekmar Plc consists of 5 subsidiaries. By estimating what each company is worth we can do a sum of the parts calculations of the company:
Ryder Geotechnical Ltd (£m) = 0.7
AgileTek Engineering Ltd (£m) = 1.7
Subsea Innovation Ltd (£m) = 6.3
Pipeshield International Ltd (£m) = 4.2
Tekmar Energy Ltd (£m) = 31.2
Net-current asset value(£m) = 10.6
Value(£m) = 54.7 (90 pence per share)
As a summary we can say the following:
Liquidating price = 18 pence per share
Tangible equity = 27 pence per share
Price in a “normal” market = 90 pence per share.
In my opinion selling shares at 9pence to the institutional investor seems like a bad decision from the management. The best thing will be to scrap the deal. They have won several large contracts recently, and with a good execution of the contracts we might be able to see green numbers on the bottom line and a share price considerably higher than today.