Tekmar (#TGP) – debt/equity financing deal exclusivity with a preferred partner extended to 31st March

Tekmar – financing ‘exclusivity period extension’, what of approaching 16% share price fall?

Offshore energy technology and services group Tekmar (TGP) has announced a 14 day exclusivity period extension for a preferred financing partner, “with the mutual option to extend for an additional 14 day period if required, to allow the preferred partner to complete its due diligence and finalise its proposal”. What of a current approaching 16% share price fall to 14.5p in response?

Tekmar (#TGP) – financing “preferred partner” due diligence exclusivity period extended by up to 28 days

Tekmar – contract award ‘delight’, but what about “the necessary cash”?

Tekmar Group (TGP) states on its cable protection systems business that it is “delighted to receive the award for Dogger Bank C… set to become the world's largest offshore wind farm”. So what of the shares currently responding more than 80% higher to above 12p?

Tekmar – renewal of existing facility and financing arrangements, but they insufficient looking ahead?

Describing itself as “a leading provider of technology and services for the global offshore energy markets”, Tekmar Group (TGP) has announced “extension of banking facility… completes the renewal of the group's existing facility and financing arrangements”. So what of a share price currently down to 8.75p?

Tekmar – proposed investment for “an ambitious plan for growth”, or needed anyway?

Tekmar (TGP) has announced that a “proposal being considered represents a strategic investment from a global institutional investor in the energy sector, which would provide funding for the company to follow an ambitious plan for growth, both organically and by acquisition”. Sounds good, so what of a currently little changed circa 9.25p share price?

Tekmar (#TGP) – CFO Derek Bulmer to resign as is “to accept another role outside the business”

Tekmar (#TGP) – grants institutional investor 60 days period of exclusivity re. an “investment, at or around the current share price”

Tekmar (#TGP) – loan facility extension, exploring “several” strategic review options

Tekmar – “continuation of our recent contract momentum”, but what about the balance sheet?

Describing itself as “a leading provider of technology and services for the global offshore energy markets”, Tekmar Group (TGP) has announced “a significant new contract award to supply 100 Cable Protection Systems for use on multiple offshore wind farms in the Shangdong and Guangdong provinces of China”. What of a current more than 5% higher share price response to 11.375p?

Tekmar – contract win and cash collection, but are they sufficient?

Energy technology and services group Tekmar (TGP) is pleased to announce a “significant” new contract for an offshore wind farm project and emphasises it “builds on the encouraging contract momentum we have established, highlighted by the record order book of £20.1m we announced with our first half results”. So what of a current share price soaring up towards 12p?

Tekmar – “may not have the necessary cash to make all the required investment to deliver fully the turnaround strategy”. Uh oh...

Previously writing on Tekmar Group (TGP), in November with the shares at 53p I concluded to avoid ( ‘contract award’… but how significant and how’s the financial position?). The shares last closed at 39p and are now slumping below 30p, so what’s going on?...

Tekmar (#TGP) – H1 further loss, ‘strategic review’ including formal sale process

Tekmar (#TGP) – proposed £4m+ placing and £1m open offer at 45p per share

Tekmar – ‘contract award’… but how significant and how’s the financial position?

Offshore energy markets technology and services provider Tekmar Group (TGP) “is pleased to announce a contract award from Global Offshore to supply Cable Protection Systems for the Arcadis Ost 1 offshore wind farm in Germany”. So what’s the detail and what of the shares, which have currently responded higher to 53p?...

Tekmar – emphasises a successful systems delivery…but what about the financial position?

Tekmar (TGP) “is pleased to announce it has successfully delivered the final batch of Cable Protection Systems for Ørsted's Hornsea Two Offshore Wind Farm”, and the shares have currently responded approaching 6% higher to 45p. So how does the valuation stack up now?...

Tekmar – trading update, my previously stated concerns valid?...

Previously writing on Tekmar Group (TGP), which describes itself as “a leading provider of technology and services for the global offshore energy markets”, in December with the shares towards 80p I argued a number of things particularly concerned and saw me avoid. The shares last closed at 48.25p and are currently heading towards 40p on the back of a “trading update”...

Tekmar – interims, argues “robust balance sheet”… but also appoints a new broker...

Self-styled “a leading provider of technology and services for the global offshore energy markets”, Tekmar Group (TGP) has updated including October-appointed CEO Alasdair MacDonald emphasising “the fundamentals of this business are strong and I have no doubt that we can capitalise on the structural growth forecast in our core market and deliver sustainable returns for our shareholders” – and the shares have currently responded towards 80p, more than 15% higher...

Tekmar – update… why nothing re. bottom-line performance I wonder?!

Previously writing on self-styled “a leading provider of technology and services for the global offshore energy markets” Tekmar Group (TGP), in May with the shares at 120p I questioned it “well placed to navigate this period of uncertainty” and concluded I currently continue to avoid. Having commenced today at 71.5p, “an update on the new CEO's Review, a trading update ahead of the group's half year results for the six months ended 30 September 2020, and a change to its financial year end”...

Tekmar (#TGP) – H1 revenue -10% on prior year, “working through the details of a business reorganisation”