Tekmar Group
plc
("Tekmar Group", "Tekmar",
the "Group" or the "Company")
Renewal of Banking
Facilities
Tekmar Group plc (AIM: TGP), a
leading provider of technology and services for the global offshore
energy markets, announces it has agreed with Barclays Bank PLC
("Barclays") a renewal of its existing banking
facilities.
The existing trade loan facility
remains available to Tekmar with the next annual review date in
June 2025. This facility of up to £4 million can be drawn against
supplier payments and is provided with support from UK Export
Finance. In addition, the £3 million Coronavirus Business
Interruption Loan ("CBILS") facility is extended by a further 12
months to October 2025. This completes the renewal of the Group's
existing facility and financing arrangements.
As at 30th June 2024, the Group held
£2.8 million of cash with net debt of £4.0 million.
Enquiries:
Tekmar Group plc
Alasdair MacDonald, CEO
Leanne Wilkinson, CFO
|
Via
Gracechurch Group
|
Singer Capital Markets (Nominated Adviser and Joint
Broker)
Rick Thompson / Sam
Butcher
|
+44 (0)20
7496 3000
|
Berenberg (Joint Broker)
Ben Wright / Ciaran Walsh
|
+44 (0)20
3207 7800
|
Gracechurch Group (Financial Media & Investor
Relations)
Murdo Montgomery / Heather
Armstrong
|
+44 (0)20
4582 3500
|
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
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.co.uk.
Subscribe to further news from
Tekmar Group at Group News.