TGP Tekmar Group Plc

Tekmar Group plc

("Tekmar", the "Group" or the "Company")

Grant of Conditional Share Options

Tekmar Group plc, a leading provider of technology and services for the global offshore energy markets, announces that the Group has established a share option plan (the "Share Option Plan"), which awards share options to the executive directors, other PDMRs and certain other employees of up to 3,666,401 ordinary shares of £0.01 each in the Company ("Ordinary Shares"). The award of these options is in accordance with  the intention set out in the circular to shareholders dated 3 April 2023 to award shares to certain Group employees in lieu of the Company's LTIP awards for the prior financial year.  The share options comprise three equal tranches of Ordinary Shares which vest at intervals up to 20 April 2026 subject to certain conditions which are summarised below.

The following Persons Discharging Managerial Responsibility ("PDMRs") have been granted options:

Conditions

Options may not be exercised under the Share Option Plan until the relevant vesting dates, of which there are three:

·    the date of grant;

·    20 April 2025; and

·    20 April 2026.

On each vesting date, individuals will be entitled to acquire shares at the exercise price of £0.01  provided that they remain employed at that date. 

The relevant notification set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.