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This Announcement is not an admission document or a prospectus and should not be construed as an offer or form part of any offer to sell or issue, or solicitation of an offer to purchase or subscribe for, any of the securities mentioned in this Announcement nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. In particular, these materials are not an offer of securities for sale in the United States. Investors should not subscribe for or purchase any transferable securities referred to in this Announcement except on the basis of information in the Admission Document published on 14 June 2018.
20 June 2018
Tekmar Group plc
("Tekmar" or the "Company")
ADMISSION TO TRADING ON AIM AND FIRST DAY OF DEALINGS
Tekmar Group plc, a market-leading technology provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services, is pleased to announce that Admission will occur, and dealings in its shares will commence, at 8.00 a.m. today, 20 June 2018.
Dealings in the shares will commence under the ticker "TGP", the ISIN number is GB00BDFGGK53 and SEDOL BDFGGK5.
Upon Admission, the Company will have a market capitalisation of approximately £65 million, following a successful total fundraise of approximately £61.8 million (before expenses). The fundraise, which was well supported by blue chip institutional investors, will be used principally to fund the cash consideration payable under the Acquisition Agreement to acquire Tekmar Limited, to repay debt within the Group and to provide approximately £10 million for the Company to fund future expansion and acquisitions.
James Ritchie, CEO of Tekmar, said:
"Today is an historic day for Tekmar, marking the start of the next phase of our planned expansion and development. Being an independent quoted company brings additional advantages and prestige to the Group and we firmly believe it will enable us to accelerate our growth and maximise our potential.
"I thank everyone who helped Tekmar Group plc achieve this successful flotation, especially our driven management and our loyal employees, who are the heartbeat of this business."
Tekmar Group plc
James Ritchie, Chief Executive Officer
Sue Hurst, Chief Financial Officer
+44 (0)1325 379 520
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Jen Clarke
+44 (0)20 7383 5100
Berenberg (Sole Global Coordinator and Broker)
Chris Bowman / Ben Wright / Laure Fine
+44 (0)20 3207 7800
Belvedere Communications (Financial PR)
John West / Llew Angus
+44 (0) 20 3567 0515