A Settlement Agreement has been made amongst Seamec Ltd, SEAHORSE (the charterer) and PMS, Egypt pursuant to which the outstanding dues of US $ 3.65 million has been settled for US $ 3.29 million.
As per the above arrangement read with the assignment of debt right given by SEAHORSE to SEAMEC, SEAMEC will receive the outstanding in installments directly from PMS.
The payment as per the Settlement Agreement in installments has been commenced.
Shares of SEAMEC LTD. was last trading in BSE at Rs.185 as compared to the previous close of Rs. 183. The total number of shares traded during the day was 777 in over 10 trades.
The stock hit an intraday high of Rs. 188.9 and intraday low of 185. The net turnover during the day was Rs. 145115.