Seamec Ltd to purchase vessel SEAMEC ANANT from HAL Offshore Ltd

Based on the recommendation of the Audit Committee, the Board of Directors of the Company in its meeting held today i.e. June 3, 2025, considered and approved the purchase of Vessel “SEAMEC ANANT” from HAL Offshore Limited, the Holding Company at a price of USD 70 million, subject to approval of the shareholders.

Upon shareholders’ approval, the Company will charter the Vessel to HAL Offshore Limited on a day rate of USD 45,000 for marine activities.

The above transactions will be related party transactions. The salient features of the acquisition and subsequent charter hire will be provided upon execution of relevant agreement(s).

The Board of Directors has approved the Postal Ballot Notice and calendar of events and recommended seeking shareholders’ approval for the following proposals:

(i) Purchase of vessel “SEAMEC ANANT” from HAL Offshore Limited

(ii) Material modification to the Related party transaction with HAL Offshore Limited, the Parent Company, relating to charter hire, diving and other related transactions in line with the Company’s business for enhancing the monetary capping limits from USD 30 million p.a to USD 60 million p.a.

Shares of Seamec Limited was last trading in BSE at Rs. 920.50 as compared to the previous close of Rs. 911.40. The total number of shares traded during the day was 3490 in over 435 trades.

The stock hit an intraday high of Rs. 960.00 and intraday low of 888.40. The net turnover during the day was Rs. 3188102.00.

Source : Equity Bulls

Keywords

Seamec INE497B01018 Shipping VesselPurchase SEAMECANANT HALOffshore