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.

16 March 2022

TEKMAR GROUP PLC

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

Results of General Meeting and Open Offer

Issue of Equity and Total Voting Rights

Tekmar Group (AIM: TGP), a leading provider of technology and services for the global offshore energy markets, is pleased to announce that all Resolutions put to Shareholders at the General Meeting held earlier today in connection with the Firm Placing and Open Offer, were duly passed.

Furthermore, the Company is pleased to announce that it has raised £149,796.45 from the Open Offer (before expenses) at the Offer Price of 45 pence per Open Offer Share following the receipt of valid applications for 332,881 Open Offer Shares from Qualifying Shareholders, including applications under the Excess Application Facility. This represents approximately 14.80 per cent. of the available Open Offer Shares.

Accordingly, Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement.

The result of the Open Offer along with the Firm Placing means that the Company has conditionally raised a total of approximately £4.15 million (before expenses) through the Firm Placing and Open Offer.

Alasdair MacDonald, CEO of Tekmar Group plc, said:

"On behalf of the Board, I would like to express our thanks to our shareholders for their participation in the Open Offer, which complements the support we received from institutional investors in the Firm Placing. The proceeds will be used to help support the delivery of our strategic plan as we transition the business to sustained profitable growth."

Admission, settlement and dealings

Application will be made for the admission of up to 9,232,881 New Ordinary Shares to trading on AIM (comprising 8,900,000 Firm Placing Shares and Directors' Subscription Shares, and 332,881 Open Offer Shares) and, subject to, inter alia, Admission, dealings in the New Ordinary Shares are expected to occur at 8.00 a.m. on 17 March 2022.

Total Voting Rights

Following Admission, the Company will have 60,960,234 Ordinary Shares in issue. No shares are held in treasury, therefore, the total number of voting rights in the Company following Admission will be 60,960,234.

Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the issued share capital of the Company, under the FCA's Disclosure Guidance and Transparency Rules.

Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the Circular sent to Shareholders and available to view on the Company's website, as published by the Company on 28 February 2022.

Enquiries:

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

About Tekmar Group plc - www.tekmargroup.com

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.

Subscribe to further news from Tekmar Group at Group News.