Tekmar Group P. Regulatory News (TGP)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO PURCHASE AND/OR SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN TEKMAR GROUP PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF TEKMAR GROUP PLC.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION, WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

28 February 2022

TEKMAR GROUP PLC

("Tekmar", the "Company" and, together with its subsidiaries, the "Group")

Launch of Open Offer, Posting of Circular, Notice of General Meeting

Tekmar Group (AIM: TGP), a leading provider of technology and services for the global offshore energy markets, is pleased to announce that further to the Company's announcement at 7.01 a.m. on 25 February 2022 (the "Launch Announcement"), the Company will today post a Circular to Qualifying Shareholders regarding the Open Offer of up to 2,249,015 Open Offer Shares in the Company at the Issue Price of 45 pence per Open Offer Share to raise approximately £1 million (before expenses).

Pursuant to the Open Offer, Qualifying Shareholders will be given the opportunity to subscribe for:

1 Open Offer Share for every 23 Existing Ordinary Share

held by each Qualifying Shareholder on the Record Date.

Any Open Offer Shares not subscribed for by Qualifying Shareholders will be available to Qualifying Shareholders under the Excess Application Facility and as such, Qualifying Shareholders seeking to limit their dilution from the Placing, the Subscription and the Primary Bid Offer can also request additional Open Offer Shares ("Excess Shares") under the Excess Application Facility. The Open Offer is not being underwritten. 

Posting of Circular

Further details regarding the Open Offer are available in the Circular, which will be posted today to Qualifying Shareholders, along with the Application Form (where applicable).  The Circular will set out the expected timetable of principal events (as set out below) which has been revised from the expected timetable set out in the Launch Announcement. The Circular will also be made available on the Company's website:  https://investors.tekmar.co.uk/investors/circulars-and-notices/ 

Notice of General Meeting

A notice convening a General Meeting of the Company is set out at the end of the Circular. The General Meeting is to be held at 10.00 a.m. on 16 March 2022 at the offices of Tekmar Group plc, Innovation House, Centurion Way, Darlington DL3 0UP. 

Capitalised terms used in this announcement have the meanings given to them in the Launch Announcement, unless the context provides otherwise.

Enquiries:

The person responsible for arranging the release of this announcement on behalf of the Company is Derek Bulmer, Chief Financial Officer.

Expected timetable of principal events: