Property Disposal

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 Richard Turner, CEO Phil Lanigan, CFO	c/o [phone]
Cavendish Capital Markets Limited (Nomad and Broker) Peter Lynch Neil McDonald Pearl Kellie	[phone] [phone] [phone]
Gracechurch Group (Financial Media & Investor Relations) Murdo Montgomery Alexis Gore	[phone]

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

 

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