SEAMEC LIMITED is an Indian registered Public Limited company listed on The Stock Exchange, Mumbai and The National Stock Exchange of India Ltd is subsidy HAL Offshore Limited, HAL a part of MM Group.
The Company offered shareholders Buyback of 8475000 shares @ Rs. 125/- per share. Buyback commenced on 2nd November 2015 and concluded on 19th November 2015. Consequent upon Buyback of shares promoter’s shareholding stands at 18527475 (72.87%).
1986: Incorporated as Peerless Leasing Private Ltd on December 29. Promoted by Peerless General Finance and Investment Company Ltd, (PGFI) pf Kolkata.
1987: Subsequently the name changed to Peerless Drive Ltd. on July 8
1994: The name was changed to Peerless Shipping & Oilfield Services Ltd. on August 25. The Company started operating on a single DSV in Indian Offshore market, grown subsequently to own and operate three DSV’s. Total assets value of Seamec is currently USD 32 million.
1995: Public issue was made in 31st January, 1995. Coflexip Stena Offshore Mauritius Ltd. the wholly owned subsidiary of Coflexip acquired 8.38% of company. PGFI, the promoters holding was 49.85%.
1999: In October, Coflexip Stena Offshore Mauritius Ltd increased its holding to 58.24% controlling interest in the Company by acquiring the total shareholding of Peerless Finance.
2000: In 11th August, the name of the company was formally changed to South East Asia Marine Engineering &Construction Limited (SEAMEC) to reflect the change in ownership, objective & capabilities of the new organization.
2001: With the acquisition of the Coflexip Group by Technip of France Worldwide, SEAMEC becomes a subsidiary of the largest oilfield engineering, construction and service group in Europe and part of an organization with total annual turnover of more than US$5 billion and a permanent workforce of 22,000. Thereafter, Coflexip Stena Offshore Mauritius Ltd (CSOML) a wholly owned subsidiary of Technip SA, France, holds 78.24% share in Seamec.
2007: The name of the company was changed to SEAMEC Limited with effect from June 12, 2007.
2008: With effect from 28th October 2008, CSOML holding brought down to 75% as per regulatory provisions.
Coflexip Stena Offshore Mauritius Ltd (CSOML), Promoter (ultimate wholly owned subsidiary of TECHNIP SA, FRANCE) – 75%
Public & Others – 25%
2014: CSOML entered into a Share Purchase Agreement (SPA) dated 22nd April’ 2014 with HAL Offshore Ltd (HAL) for disinvestment of its holding between 51 % to 75 % in two tranches. First tranche of disinvestment of 51 % shares made on 03rd June’2014. Effective from 03rd June’2014, HAL became the promoter of the Company and acquired Management Control. As per SPA and regulatory requirement under SEBI (Acquisition of Shares and Takeover), 2011, HAL made an open offer for acquisition up to 26 % of shares and with effect from 26th September 2014, balance 24% shares were acquired by HAL and its holding stands at 75%.
2015: The Company offered for Buyback of Shares in May 2015, following which HAL (Promoters holding come down to 72.87%.)
Historically, Peerless Shipping & Oilfield Services Ltd. operations consisted primarily of chartering the three DSV’s to ONGC on long-term day-rate contract. Later the company expanded its area of business to encompass a wider range of subsea intervention and oilfield support services.
The Company owns and operates 4 nos of Multi-Support Vessels for the provision of diving services, manned and unmanned subsea operations and related activities. These activities include inspection of underwater structures, firefighting services and ROV support. SEAMEC has a dedicated Marine and Diving Project Management Personnel. SEAMEC personnel on board are well experienced and equally qualified to meet the standards set worldwide. In addition to above, the company owns and operate one bulk carrier which is company new line of business. The Company has a Wholly Owned Subsidiary (WOS) in the name and style of “SEAMEC INTERNATIONAL FZE” in Dubai Airport Free zone, Dubai, UAE in March 2010.
The Company has also set up a Wholly Owned Subsidiary (WOS) in the name and style of “SEAMEC INTERNATIONAL FZE” in Dubai Airport Free zone, Dubai, UAE in March 2010. WOS owns one Supramax Bulk Carrier
A. MSV
C. BULK CARRIER
The Total strength of the employee on shore is about 45 and in offshore is about 467.
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