Investor Meet Company - Audio Archive

Investor Meet Company will be hosting EURASIA MINING PLC - Q&A Session, at 30th Dec 2025 at 3:00pm GMT.

Pantheon Resources PLC (AIM:PANR) provided an investor update outlining progress and next steps across its Alaska portfolio, highlighting operational results, capital discipline, and long term growth strategy. Management confirmed a temporary pause at the Dubhe-1 well in the Ahpun field to conduct a planned pressure build up survey after achieving around 50 percent load recovery, citing winter operating costs exceeding $150,000 per day and the need to protect shareholder value. The company reiterated that the Ahpun resource estimate remains unchanged and that appraisal work has confirmed a thick, laterally continuous reservoir with strong productivity, gas shows, and initial oil production, supporting confidence in future oil breakthrough. Pantheon remains on track toward a potential final investment decision for Ahpun around 2027, with development targeting lower capital intensity and proximity to infrastructure. The presentation also emphasized Kodiak as the company’s flagship asset, with independently assessed contingent resources of approximately 1.2 billion barrels and additional upside potential. Management outlined plans to mature Kodiak through seismic reprocessing, core analysis, and a potential appraisal well as early as next winter, while actively pursuing farm out partners to limit dilution and fund large scale development. The company reaffirmed its alignment with the Alaska LNG project and gas sales precedent agreement timeline, strengthened leadership and technical capability, and commitment to disciplined capital allocation, positioning Pantheon for long term value creation through appraisal, partnerships, and infrastructure led development.

Schroder Real Estate Investment Trust Limited (LSE:SREI) delivered a resilient investor update highlighting stable company performance, strong financial results and clear visibility on future earnings growth, supported by a high yielding UK real estate portfolio, active asset management and long term fixed rate debt. Management emphasized a progressive dividend strategy with a 5 percent increase in dividends over the recent six month period and a current dividend yield of around 6.7 percent, supported by a reversionary yield of approximately 8.3 percent and a twelve million pound gap between passing rent and estimated rental value that can enhance future cash flow. The company reported continued demand across multi let industrial assets, retail warehousing and convenience retail, alongside successful leasing initiatives that crystallize higher rents, reinforce margins and support net asset value. With an average debt cost of 3.5 percent, ninety percent fixed for eight years and loan to value near thirty six percent, management sees rising revenue, EBITDA growth and a path to dividend enhancement as new leases, inflation linked uplifts and refurbishments complete. The order book of leasing activity already matches current ERVs and recent asset disposals achieved premiums to book value. Sustainability remains central to the growth strategy, with higher rents and valuation premiums achieved on energy efficient refurbishments that generate green premium demand from tenants and institutional investors. Management expects improving sentiment as interest rates decline and international capital increases into 2026, positioning the trust to benefit from rental growth, constrained supply and continued recovery in real estate values.

Orosur Mining Inc (AIM:OMI) delivers a compelling investor update highlighting a transformational year marked by strong company performance, a reinforced balance sheet, significant operational progress and a clear growth strategy across its high grade gold and silver assets in Colombia and Argentina. Management emphasized that the company has moved beyond the micro cap sphere with a market capitalization above 100 million dollars US, strengthened liquidity following a 20 million dollar Canadian capital raise, and full ownership positions across its core projects. Drilling success at the Anzar project in the Mid Calca Belt near Medellin continues to capture investor interest with exceptional intercepts at the Pepas prospect supporting plans for a maiden mineral resource in January and a transition toward mine planning permitting feasibility and potential near term production using low cost toll processing. The Apta target is expected to follow with its own resource after additional drilling while the larger El Cedro porphyry and surrounding epithermal systems will be tested in early 2026 to evaluate scale strategic options and future capital needs. In Argentina the company has passed 51 percent ownership of the El Pantano project and ongoing drilling aims to validate a twenty kilometre structural corridor prospective for precious metals with early indications of gold and silver credits. With an expanding order book of drilling work high grades potential EBITDA visibility over time and cash runway into 2027 the company positions itself for continued resource growth margin expansion and long term value creation for shareholders.

Watkin Jones PLC (WJG:AIM) reported a resilient FY25 performance despite prolonged economic volatility, constrained market liquidity and regulatory headwinds, delivering adjusted operating profit of £6.3m at the top end of consensus, an improved gross margin of 12.4%, and a strong net cash position of £70m, underpinned by disciplined cost control, delivery execution and strategic diversification. Revenues were impacted by lower forward-sold income entering the year, but operational performance improved across core metrics, with four schemes completed on or ahead of programme, £3m+ of margin betterments, and continued progress in cash and debt management. The group advanced its diversification strategy, with refresh and development partnerships generating over £90m of revenue and diversified income rising to 30% of the mix, on track for a 60/40 split by FY27, enhancing earnings resilience and visibility. The development pipeline expanded to over £2bn (c.11,000 beds/units), with 70% secured and nearly half consented, while Fresh, the accommodation management platform, grew units under management by over 2,000 beds net, delivered strong margins and maintained high occupancy and satisfaction levels. Market fundamentals across PBSA and BTR remain attractive, supported by structural undersupply, demand growth and improving investor sentiment, with early signs that easing interest rates may unlock liquidity. While statutory results reflected building safety provisions and asset impairments, management remains focused on capital preservation, execution excellence and selective growth, positioning the business to maintain profitability through cycles and build a more resilient, diversified platform for future growth.

Chesterfield Special Cylinders Holdings PLC (AIM:CSC) delivered a strong FY 2025 investor update highlighting a return to profitability, improved financial results and momentum across defence, hydrogen and life cycle services. The company reported 12 percent revenue growth to 16.6 million, record second half revenue, a swing to 0.8 million adjusted EBITDA profit from a prior loss, improved margins, and a strengthened balance sheet supported by the sale of the PMC division which boosted cash to 2.1 million and enabled debt repayment. Order intake and the order book increased sharply, driven by overseas defence contracts, integrity management services and the company’s first major UK hydrogen storage milestones under the BP Aberdeen project. Management reaffirmed its 2028 growth strategy including a revenue target above 30 million, 15 percent plus EBITDA margins before central costs, doubling overseas defence sales, expanding the order book linked to long term submarine programs, and scaling hydrogen to 30 percent of group revenue as UK allocation rounds progress. The investor presentation emphasised visibility from naval programmes in the US, UK, Australia and Canada plus rising NATO defence spending, while the hydrogen outlook benefits from UK clean energy incentives and upcoming contract awards through 2026. Record 2025 integrity management revenue supported recurring high margin service income with a target to maintain at least 30 percent of revenue from life cycle services. Operational improvements, workforce development and factory readiness are expected to drive further EBITDA and margin expansion in 2026 when contract phasing again skews revenues to the second half. Management reiterated confidence in order conversion, earnings growth and shareholder value creation supported by a stronger order book, a clear growth strategy, and exposure to defence and hydrogen markets with long term structural demand.

CATENAI PLC (CTAI:AIM) presented an investor update outlining progress at its primary investment, Alludium (also referred to as Eudium), an enterprise AI agent platform positioned to capitalise on the emerging “third wave” of AI focused on autonomous execution rather than content generation. Interim CEO John Farthing introduced the session, with Alludium executives detailing a platform that enables non-technical users to rapidly build, deploy and manage AI agents via a simple chat-based interface. Management highlighted strong market tailwinds driven by widespread adoption of large language models, but argued that true value will be unlocked through AI agents operating autonomously across workflows. Alludium’s platform integrates intelligence, execution, governance and external system connectivity to support task, workflow, domain expert and interface agents, operating across varying levels of autonomy. A live demo showcased the ease of configuring agents for real-world use cases such as email, calendar management, CRM, social media monitoring and sales development. The addressable market was framed as global knowledge workers, with a SaaS-style revenue model expected to go live in February, following early traction with design partners and a growing waitlist. Management cited comparable agentic AI platforms achieving multi-billion-dollar valuations and rapid ARR growth, positioning Alludium as a natively built orchestration layer for the future of work. The team emphasised strong user feedback around autonomous “background” agents and guided configuration, reinforcing the platform’s differentiation versus more technical competitors, and expressed confidence in scaling across additional verticals through 2026.

Victoria PLC (AIM:VCP) delivered a resilient H1 investor update, highlighting disciplined cost control, EBITDA improvement and ongoing actions to strengthen margins despite persistent macro pressure on consumer discretionary spending and flooring volumes that remain 20 to 25 percent below trend. Revenue declined approximately 7 percent, driven by lower volumes, while group EBITDA increased to £53.5 million and margins expanded to 10.1 percent, supported by SG&A efficiencies, pricing and mix benefits and proactive bottom slicing of lower margin ceramic and flooring lines. Management reiterated its growth strategy centered on operating discipline, deleveraging and cash generation, with net debt of just over £1 billion following more than £700 million of refinancing that pushed the next material maturity to 2028. The company flagged near term inefficiencies linked to Belgium rugs consolidation but confirmed that the relocation to Turkey, alongside the €31 million V4 ceramics manufacturing investment in Spain, will underpin material EBITDA uplift through FY 27. Divisional commentary referenced market share gains and premium brand momentum in UK carpets, progress in underlay and logistics through Alliance, expanding hard flooring ranges, targeted portfolio rationalisation in ceramics, stable performance in Australia and a margin led approach in North America. Updated guidance included reduced annual capex of £50 million to £55 million, £40 million of working capital improvements, additional property disposals and a pipeline of manufacturing, procurement and integration savings expected to contribute more than £50 million across FY 27 and FY 28. Management emphasised its investor focused priorities around order book quality, free cash flow, credit rating restoration and long term margin expansion, positioning the group to benefit as housing and renovation activity normalises.

Redcentric PLC (RCM:AIM) reported its interim investor update outlining a transformational year marked by the strategic disposal of its data centre business and a renewed focus on its higher-margin managed services operations. The company has agreed the sale of its data centre assets to a Stellano-backed entity for an enterprise value in the range of £115–127m, with completion targeted for Q1 calendar 2026, materially strengthening the balance sheet, reducing leverage and enabling potential shareholder returns alongside reinvestment. Redcentric is repositioning as a pure-play managed services provider with c.90% recurring revenue, improved earnings quality and strong customer retention across the UK mid-market, public sector and regulated industries. Interim financial results showed modest revenue softness as management prioritised margin discipline, with gross margin improving to 61.6% (from 59.1%), EBITDA margin rising to 13.7% (from 12.8%), and recurring revenue increasing to 90.4%, supporting cash flow visibility. Under new leadership, the company is executing a clear growth strategy focused on cybersecurity, private and public cloud, AI-enabled infrastructure, and partner-led routes to market, including enhanced collaboration with VMware. Operational efficiency initiatives, platform simplification and targeted automation are expected to drive further margin expansion toward the mid-teens over time. With a less capital-intensive model, reduced financing costs and a strengthened management team, Redcentric believes it is well positioned to deliver sustainable growth, improved cash conversion and long-term shareholder value in a highly fragmented UK MSP market.

Avacta Group PLC (AVCT:AIM) presented an investor update detailing encouraging Phase 1B data for ferridoxorubicin (AVA6000) in patients with advanced salivary gland cancers, reinforcing the strength of its Precision® FAP-activated drug delivery platform. The company reported that the Phase 1B cohort (19 efficacy-evaluable patients) continues to demonstrate a favourable safety profile consistent with Phase 1A, notably eliminating severe cardiac toxicity associated with conventional doxorubicin and significantly reducing haematologic and gastrointestinal toxicities, even with prolonged dosing. Efficacy remains highly encouraging, with a 90% disease control rate, including partial and minor responses, and most patients remaining on treatment with median progression-free survival (PFS) not yet reached. Translational and biopsy data showed marked tumour-selective accumulation of released doxorubicin versus plasma, exceeding concentrations required to kill salivary gland cancer cells in vitro, even in tumours with low FAP expression—providing strong proof of mechanism and supporting broader platform applicability. Management highlighted that these results de-risk progression into a planned randomised Phase 2/3 trial using PFS and overall survival as primary endpoints versus investigator’s choice chemotherapy, aligned with global treatment guidelines where no standard of care exists. Enrollment in Phase 1B continues toward up to 30 patients, with further survival updates expected in the first half of 2026, positioning AVA6000 as a potentially differentiated oncology asset with meaningful clinical benefit driven by durable disease stabilisation rather than tumour shrinkage alone.

East Star Resources PLC (EST:LSE) presented an investor update outlining significant progress across its Kazakhstan-focused copper and gold portfolio, highlighting a clear pathway to production, non-dilutive funding, and expanded exploration optionality. The company has advanced from four exploration licences to a JORC inferred resource at VMS-style Vuba of 20.3Mt at ~1.1% Cu, which is now fully funded through to production via a binding heads of agreement with global EPCM contractor Hong Kong Qinghai Mining Services Limited, expected to invest in further drilling, complete feasibility studies in-house, and fund development (estimated capex ~US$65m). East Star also announced a substantial exploration target at Rulika of up to 23Mt at ~2.4% Cu equivalent, offering material upside if converted to a JORC resource. Strategically, the company has secured a US$25m staged exploration joint venture with Endeavour Mining, a top-tier global gold producer, covering large underexplored gold-copper belts, with Endeavour funding early exploration and carrying projects through feasibility in return for majority ownership, while East Star retains exposure, management fees, and milestone payments. Additional porphyry–epithermal licences (Snowy, Pickett, Judd) further strengthen the pipeline. With ~524m shares expected post-conversion and Endeavour becoming the largest shareholder (~15%), East Star emphasised capital discipline, non-dilutive exploration funding, and multiple 2026 catalysts including drilling at Vuba, JV-led exploration results, permitting progress at Rulika, and potential new discoveries, positioning the company as a leveraged, infrastructure-ready copper and gold growth story in a low-cost jurisdiction.

Petro Matad Limited (AIM:MATD) provided an investor update outlining strong operational progress across its Mongolian oil assets and accelerating growth in renewable energy, positioning the company for diversified long term value creation. The presentation highlighted stable and improving company performance at Block XX, with the Heron field producing consistently at approximately 135 to 145 barrels per day, minimal water cut, over 70,000 barrels produced to date, and meaningful cost and emissions reductions following full site electrification. The Gazelle discovery moved rapidly from testing to production, delivering initial rates of up to 400 barrels per day and advancing toward reserve booking, while production optimization and further upside remain. Net oil revenues for 2025 are expected to exceed $2.5 million after government share, with progress toward resolving withheld payments from PetroChina improving near term cash flow visibility. Looking ahead, the growth strategy for 2026 includes production optimization, potential infill drilling, new well technologies, 3D seismic acquisition, further electrification and continued exploration and farm out discussions at Block VII, which offers exposure to underexplored oil plays near proven Chinese basins. In parallel, Petro Matad’s Sunstep Renewable Energy joint venture has built a substantial development portfolio aligned with Mongolia’s energy independence strategy, including green hydrogen, battery storage, large scale power export initiatives and a flagship 200 megawatt solar wind and battery hybrid project targeting ready to build status in 2026. Together, these oil and renewable initiatives strengthen revenue potential, improve margins, enhance the order book of future projects and support a balanced transition focused on sustainable growth and long term shareholder returns.

Serica Energy PLC (AIM:SQZ) provided an investor update outlining the strategic acquisition of a portfolio of high quality North Sea assets from Spirit Energy, reinforcing its growth strategy and strengthening long term company performance. The transaction materially increases reserves by more than 25 percent, adds stable and low cost gas weighted production, and enhances portfolio diversification across the UK Continental Shelf, including interests in the Cygnus, Clipper South, Galleon and Greater Markham Area assets. Management highlighted that the assets are highly cash generative, benefit from strong uptime, and are being acquired at an attractive valuation of under four dollars per barrel, with limited cash payable on completion due to favorable economic effective dates. The deal is expected to deliver approximately 100 million dollars of post tax free cash flow by 2028, supporting revenue growth, resilient margins, and sustainable shareholder returns. Importantly, the majority of decommissioning liabilities for operated assets remain with Spirit Energy, significantly reducing Serica’s long term risk profile and improving capital efficiency. The company emphasized disciplined capital allocation, strong liquidity, and the use of carried forward tax losses to enhance EBITDA and cash generation, while retaining flexibility to invest in organic growth opportunities such as infill drilling and redevelopment projects. Serica also reaffirmed its commitment to dividends, prudent balance sheet management, and a planned move to the London Stock Exchange main market, with further guidance on financial results, investment priorities, and outlook to be provided at its upcoming trading update and Capital Markets Day.

HarbourVest Global Private Equity Limited (HVPE:LSE) delivered a resilient investor update outlining a return to more normalised portfolio growth, strong share price performance, and improving private market conditions heading into 2026. As at end-October, NAV per share rose to $57.60, representing a 10.3% year-on-year increase in US dollar terms (8.2% in sterling), broadly in line with the trust’s long-term 10-year CAGR of c.13%. More notably, the share price rose 36.5% over the same period, narrowing the discount to NAV from 45% to 28%, supported by ongoing share buybacks funded through the distribution pool. Since inception in February 2024, the pool has received $228m of contributions, nearing the upper end of its $150–250m target range, with $64m remaining available as of October and buybacks running at approximately $10m per month. Management highlighted a constructive private markets outlook, with investment and exit activity rebounding from a mid-2024 trough, improving liquidity, declining industry dry powder, and expectations for a stronger fundraising environment in 2026. The manager also emphasised the growing scale of private markets, particularly in mega-cap venture, AI-driven infrastructure, and large public-to-private transactions, alongside increased use of GP-led secondaries as a liquidity tool. Overall, HVPE enters 2026 with solid NAV momentum, enhanced capital returns via buybacks, and favourable structural tailwinds across private equity, venture, credit, and infrastructure.

Gore Street Energy Storage Fund PLC (LSE:GSF) presented its interim investor update for the six months ended 30 September, outlining resilient company performance amid softer short term market conditions across global energy storage markets. NAV per share declined to 90.1 pence, primarily reflecting lower long term revenue forecasts in Great Britain, Texas and California following increased battery build out, while revenues of £16.7 million and EBITDA of £8.9 million demonstrated solid underlying cash generation. The diversified 1.16 GW portfolio delivered market leading 94 percent availability, benefited from low correlation across regions, and continued to outperform trading benchmarks through in house optimisation. Contracted revenues now represent around 25 to 30 percent of total income, supported by capacity markets in GB and Ireland and a resource adequacy contract in California, providing downside protection while retaining merchant upside. The Fund maintained disciplined capital structure with gearing of 18 percent, strong liquidity, successful US investment tax credit monetisation above guidance, and a dividend of 0.69 pence per share fully covered by earnings. Strategic priorities include portfolio augmentation at lower capex to improve duration and margins, capital recycling through selective asset sales, expansion of contracted revenues via the UK long duration storage tender at Middleton, and continued cost reduction and revenue optimisation. Management reiterated confidence in the long term growth strategy, supported by strong fundamentals for energy storage driven by renewable penetration, grid volatility and rising power demand from data centres and AI, positioning the Fund to unlock value and enhance shareholder returns over the medium to long term.

Helium One Global Limited (AIM:HE1) delivered an investor update highlighting continued company performance momentum and a clear growth strategy across its Tanzania and US portfolios, positioning the group to transition from exploration to first production and revenue generation. During the AGM all resolutions were passed, including auditor reappointment, director re elections and authority to allot equity, supporting future funding flexibility. Management emphasized material progress over the past 24 months after securing the first helium mining licence in Tanzania for the Southern Rukwa project, advancing an extended well test, submitting a feasibility study, negotiating a 17 percent government carry and commencing ESP operations designed to lift flow rates, improve recoveries, upgrade contingent resources into bookable helium reserves and unlock project financing. The licence covers 480 square kilometres, the largest ever granted in Tanzania, and is supported by community engagement and a regulatory framework agreement expected to be formally executed. In parallel the company acquired 50 percent of the Galactica Pegasus project in Colorado where six successful development wells have been drilled with helium concentrations up to 3 percent and material CO2 volumes, creating a combined revenue opportunity. Three wells are being tied in now, plant infrastructure and gathering lines are complete, and first gas and EBITDA generating cash flow are expected imminently with further development into Pegasus planned for next year. Management referenced strong demand fundamentals across fibre optics, semiconductors, aerospace and food and beverage for both helium and CO2. Financial results showed a five million dollar loss reflecting development expenditure, but recent capital raises enabled asset acquisition and drilling activity, while management converted elements of capex into leases to preserve liquidity ahead of revenue. With an expanding order book of development milestones, dual jurisdiction production exposure and a clear margin uplift path, Helium One aims to deliver sustained shareholder value through disciplined execution and monetization of strategic helium reserves.

Fevara PLC (LSE:FVA) delivered a strong investor update highlighting a transformational year marked by improved company performance, strategic simplification, and accelerated growth momentum. Full year revenue rose 4.1 percent with constant currency growth of 5.7 percent, while adjusted operating profit and adjusted earnings per share increased 69 percent, reflecting successful margin enhancement, disciplined cost control, and stronger volumes in core supplement products. The group advanced its strategy through the disposal of non core engineering assets, a seventy million pound capital return, operational restructuring in the UK, US, and New Zealand, and new commercial partnerships to strengthen its order book and market reach. Management outlined a clear growth strategy focused on operating margin improvement, profitable commercial expansion, and entry into high potential geographies, including Brazil via the acquisition of Macau and plans to build a new low moisture block facility. Supported by a robust balance sheet, new HSBC banking facilities, EBITDA progression, and a reset dividend policy, Fevara aims to drive sustained revenue growth, strengthen margins, and build a scalable international platform across the UK, US, Europe, and Brazil.

CRISM Therapeutics Corporation (CRTX:AIM) delivered an investor update outlining substantial clinical and regulatory progress as it advances ChemoSeed, its proprietary localized drug-delivery platform designed to improve the safety, efficacy, and tumour-targeting precision of chemotherapy. Management highlighted strong momentum following an oversubscribed placing and current retail offer, enabling initiation of a Phase II registration-enabling trial for recurrent glioblastoma, an indication with no standard of care and significant unmet need. The MHRA has granted approval for an open-label study under the accelerated ILAP pathway, positioning the company for potential conditional market authorization upon demonstration of safety and an early efficacy signal. Manufacturing of the GMP clinical batch is underway, the CRO is engaged, and first patient dosing is expected in Q1 2025. ChemoSeed—paired with irinotecan—offers targeted delivery directly into the tumour margin, overcoming blood-brain-barrier limitations and dramatically reducing systemic toxicity. Preclinical survival data and prior Phase I safety findings support confidence in the mechanism. Success in glioblastoma could unlock broader solid tumour indications, including an emerging programme in prostate cancer. The company reiterated commitment to cost-appropriate pricing to avoid contributing to health-care inequality, while actively pursuing non-dilutive funding to support clinical execution. Despite market sensitivity around recent discounted fundraisings, management emphasized operational readiness, regulatory support, and a clear commercialisation strategy under evaluation, including independent launch or potential partnerships, with the UK representing an initial addressable market within a total estimated opportunity of £1.7bn across CNS indications.

Capital Limited (LSE:CAPD) delivered a comprehensive investor update highlighting strong operational performance, a robust growth strategy, and the successful approval process for the second tranche of shares under its oversubscribed USD 40 million placing. Management underscored the company’s position as an integrated services provider to exploration and mining companies across Africa, the Middle East and North America with leading capabilities in drilling, mining services, geochemical laboratories, and strategic investments. Supported by record quarterly revenue, expanding order book visibility, and rising commodity prices led by gold and copper, the company expects continued earnings momentum with improving margins and EBITDA into 2026. The capital raise enhances balance sheet flexibility to secure equipment amid tightening supply chains and to pursue high value contracts driven by increasing exploration and development activity. Leadership emphasised strong institutional shareholder support, disciplined capital allocation, and the long term value of its strategic equity portfolio which has delivered superior returns. The general meeting also covered formal voting on resolutions to authorise share issuance and preemption disapplications, with results to be released via regulatory channels.

Tekmar Group PLC (AIM:TGP) delivered an upbeat investor update highlighting stronger company performance, sustained order book growth, and improving financial results as the business advances its multiyear Project Aurora strategy. Management emphasized a record backlog of twenty nine million pounds driven by major contract wins in offshore wind energy, growing demand in offshore oil and gas, and rising activity in ports and harbours, all supporting a clear growth strategy centered on expanding revenue, enhancing margins, and improving EBITDA through operational gearing. The company reported rising factory utilisation, disciplined margin management, tighter cost control, and a stronger balance sheet supported by legacy debt recovery and planned noncore asset sales, positioning Tekmar for a return to profitability in the second half of financial year twenty twenty five and further progress in twenty twenty six. Tekmar continues to strengthen its market leadership in cable protection systems and asset protection technology while scaling its offshore energy services revenue, targeting more than twenty five percent of group revenue over the next three to five years. Management highlighted growing visibility into twenty twenty seven supported by a global pipeline of sanctioned offshore wind projects, expanding demand in the Middle East, new frame agreements with tier one contractors, and multiple pathways for sustained revenue growth. With more than one hundred active projects, strong operational momentum, and a disciplined approach to mergers and acquisitions aimed at broadening capabilities and diversifying earnings, Tekmar reaffirmed confidence in its ability to deliver long term value creation and significant shareholder upside as the global energy transition accelerates.