27 August 2021

TEKMAR GROUP PLC

("Group" or the "Company")

Change of Auditor

Tekmar Group (AIM: TGP), a leading provider of technology and services for the global offshore energy markets, announces that, following a competitive tender process, it has appointed Grant Thornton LLP ("GT") as the Group's new external auditor.

GT will conduct the audit of the Group's financial statements for the financial period to 30 September 2021.  Any proposal to re-appoint GT in respect of the financial year beginning 1 October 2021 will be subject to shareholder approval at the next AGM.

KPMG LLP has resigned by notice to the Group under section 516 of the Companies Act 2006 and has confirmed that there are no matters connected with their resignation which they consider need to be brought to the attention of the members or creditors of the Group for the purposes of section 519 of the Companies Act 2006.

Enquiries:

About Tekmar Group plc - www.tekmargroup.com

Tekmar Group plc's vision is to be the leading provider of technology and services for the global offshore energy markets.  The Group has five primary operating companies; these are Tekmar Energy Limited, Subsea Innovation Limited, AgileTek Engineering Limited, Ryder Geotechnical Limited and Pipeshield International limited. 

Tekmar Energy is a global market leader in protection systems for subsea cable, umbilical and flexible pipe. Tekmar Energy has been trusted to protect billions of Euros worth of assets in the offshore wind, oil & gas, wave, tidal and interconnector markets since 1985. 

Subsea Innovation is a global leader in the design, manufacture and supply of complex engineered equipment and technology used in the offshore energy market. Its products include large equipment handling systems which operate on the back of pipelay installation vessels; emergency pipeline repair clamps (EPRC) which protect major oil and gas pipelines, and bespoke equipment for use in the construction of offshore energy projects.  

AgileTek Engineering is an award-winning subsea engineering consultancy for offshore energy projects. AgileTek helps its clients de-risk projects through advanced computer simulation and analysis.  AgileDat, a division of AgileTek, provides software development, cloud architecture and data analytics services.   

Ryder Geotechnical provides expert geotechnical design and consulting services to the offshore wind and subsea oil and gas sectors. Services include offshore structure foundation design, geohazard assessment and subsea cable routing and burial assessment.

Pipeshield International is a market leading provider of specialised subsea protection solutions in the form of concrete mattresses used for the stabilisation and impact protection of subsea equipment in areas where they cannot be buried and further to limit the development of scour (seabed erosion) particularly local to that of a foundation, pipeline or in marine ports.

Tekmar Energy is headquartered in Newton Aycliffe in the United Kingdom; AgileTek operates from an office in London; Subsea Innovation has its head office and manufacturing centre in Darlington, United Kingdom. Ryder operates in Newcastle and within AgileTek London, Pipeshield headquarters are in Lowestoft with manufacturing in Montrose and Blyth. Tekmar Group plc also has strategic supply bases and representation across Europe, Africa, the Middle East and Asia Pacific.

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