Business
Property Disposal
Tekmar Group plc has completed the sale of its former Subsea Innovation Limited premises, Innovation House and adjacent land, for £2.84 million in cash. This consideration is in line with the property's net book value as of September 30, 2025, resulting in no profit or loss on disposal for the Group. The proceeds will be used to support growth and general working capital requirements, bolstering the company's balance sheet and streamlining its asset base as part of Project Aurora. The property, which generated no income in the year ended September 30, 2024, has been acquired by Trackwork Group Limited. Disclaimer*
About this update from Tekmar Group Plc
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 +44 (0)20 4582 3500 Cavendish Capital Markets Limited (Nomad and Broker) Peter Lynch Neil McDonald Pearl Kellie +44 (0)131 220 9772 +44 (0)131 220 9771 +44 (0)131 220 9775 Gracechurch Group (Financial Media & Investor Relations) Murdo Montgomery Alexis Gore +44 (0)20 4582 3500 About Tekmar Group plc ...