Offshore group Tekmar has said it is “exploring several options with interested parties” after putting itself up for sale earlier this year.
The Darlington firm said in June that it was seeking a “strategic partner” as it did not have enough cash available to turn around a loss-making position. After kicking off a formal sale process, Tekmar has issued a new statement to the Stock Exchange saying that had received a number of indications of interest, though it could not be certain they would lead to a takeover offer.
The company has also announced an agreement with Barclays Bank to extend its £3m CBILs loan facility until October next year. Tekmar’s gross cash at September 30 was £8.5m compared to £5.1m at March 31, while net cash had improved £2m over the period thanks to what it described as “strong cash collection over the last six months.”
