SEAMEC Limited has initiated a postal ballot process to seek shareholder approval for the sale of the vessel SEAMEC GALLANT, owned by its wholly owned subsidiary SEAMEC International FZE. The transaction, valued at a gross consideration of USD 9.5 million, targets the buyer Bo Yuan Han Limited. The sale is necessary as the asset exceeds 20% of the material subsidiary's total assets, requiring a Special Resolution under Regulation 24(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors approved the proposal during a meeting held on July 14, 2026. M/s. Satyajit Mishra & Co. has been appointed as the scrutinizer to oversee the e-voting process. The company has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting facility, ensuring a transparent mechanism for shareholder participation.

Key Transaction Details

E-Voting Schedule

Shareholders registered on the books of the company as of the cut-off date, Friday, July 10, 2026, are eligible to participate. The remote e-voting period commences on Friday, July 17, 2026, at 09:00 hours IST and concludes on Saturday, August 15, 2026, at 17:00 hours IST. Votes must be cast within this window to be considered valid.

The results of the postal ballot will be declared on or before Tuesday, August 18, 2026. The scrutinizer's report will be displayed at the company's registered office, communicated to the stock exchanges, and uploaded to the company's website. The resolutions will be deemed to be passed on the last date of e-voting, August 15, 2026, if approved by the requisite majority.

SEAMEC Ltd has secured a charter contract worth USD 5.21 million from Lamprell Energy Limited for the deployment of its barge SEAMEC GLORIOUS. The agreement entails providing offshore accommodation and hook-up support for a project by Oil and Natural Gas Corporation Limited (ONGC) in the Mumbai High, West Coast Offshore, and Daman Oilfield regions. This contract strengthens the company's order book in the offshore support sector.

The company entered into a Bimco Charter Party with Lamprell Energy Limited to execute the work. The charter has a firm period of 180 days, with an option for extension. Operations are scheduled to commence within a window period starting October 15, 2026, and ending October 31, 2026.

The disclosure was made to the stock exchanges on July 15, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing confirmed that the transaction is not a related party transaction and that there are no special rights or shareholding relationships between the parties involved.