Tekmar Group Regulatory News (TGP)

TEKMAR GROUP PLC

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

Directorate Change

Tekmar Group plc (AIM: TGP), a leading provider of technology and services for the global offshore energy markets, announces that Derek Bulmer has notified the Board of his intention to accept another role outside the business and will be resigning from his position as a Director of the Board on 31 March 2023. With effect from 1 December 2022, Derek will step down from his duties as Group CFO with Leanne Wilkinson, currently Group Finance Director of Tekmar, becoming Interim CFO. Derek will continue as a non-executive Director to facilitate an effective transfer of his responsibilities and to support the ongoing strategic review, including Formal Sale Process. At this stage, the role of Interim CFO will not be a Board position.

Alasdair MacDonald, CEO of Tekmar Group, said, "I would like to thank Derek for the important contribution he has made to Tekmar during a period when we have strengthened the business in line with our strategy to realise the significant growth potential of our offshore wind and related energy markets. The appointment of Leanne highlights the strength in depth of the leadership team we have built. I look forward to working with Leanne as we continue to develop the business and thank Derek for his ongoing commitment to the business for the months ahead."

Derek Bulmer added, "It has been a real pleasure to work with Ally, the Board and the team at Tekmar and in my time with the Group, we have achieved a number of significant milestones over the last 18 months. As a business, and, through significant effort, the team has strengthened the capital and cash position of the company, a key priority for me since joining Tekmar, and significantly developed the business infrastructure to provide a solid platform for growth and development. It is encouraging today to see the Group announce exclusivity discussions with a potential partner, and I look forward to supporting the team to enable the progression of these discussions and more generally through a period of effective transition."

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About Tekmar Group plc 

Tekmar Group plc (LON: 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 near 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 which offers integrated and differentiated technology, services and products to our global customer base.

Headquartered in Darlington, 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

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