Result of AGM and CEO update

RNS Announcement

RNS Number : 6602A

Tekmar Group PLC

30 September 2020

TEKMAR GROUP PLC

("Tekmar Group" or "the Company")

Results of AGM & CEO update

Tekmar Group (AIM: TGP), announces that its 2020 Annual General Meeting ("AGM") was held today at 10:00 am and that all the resolutions, as set out in its formal Notice of Meeting dated 26 August 2020, were duly passed. The voting results are included in the table below.

Update on CEO appointment

While Alasdair Macdonald continues to lead the business as Executive Chairman, the formal process to recruit and appoint a new CEO is nearing conclusion with a shortlist of candidates being interviewed next week. We expect to be able to announce the conclusion of this in mid-October, followed by a trading update around the end of October.

AGM voting results

Resolution	Votes For	%	Votes Against	%	Total Votes cast (excl. withheld)	% ISC	Votes Withheld
1. Receive Annual Report and Accounts	33,779,719	100.00%	0	0.00%	33,779,719	65.90%	2,169
2. Re-appoint KPMG LLP	31,985,843	94.69%	1,794,364	5.31%	33,780,207	65.90%	1,681
3. Power to determine auditor Remuneration	31,991,943	94.71%	1,788,264	5.29%	33,780,207	65.90%	1,681
4. Power to allot shares	33,213,354	98.40%	540,617	1.60%	33,753,971	65.90%	27,917
5. Power to allot equity securities for cash	33,717,891	99.89%	37,623	0.11%	33,755,514	65.90%	26,374
6. Power to allot equity securities for capital investment	33,724,148	99.91%	29,823	0.09%	33,753,971	65.90%	27,917

Enquiries:

Tekmar Group plc

Alasdair Macdonald, Executive Chairman

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 (Broker)

Chris Bowman / Ben Wright / Richard Salmond

+44 (0)20 3207 7800

Belvedere Communications (Financial PR)

Cat Valentine

Keeley Clarke

[email protected]

+44 (0) 7715 769 078

+44 (0) 7967 816 525

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 and Tekmar Group plc 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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RNS metadata

Title: Result of AGM and CEO update
Time: 16:19:08
Date: 30 Sept 2020
Category: AGMs and other meetings
ID: 6602A