|South East Asia Marine Engineering & Construction Limited, now Known as SEAMEC LIMITED is an Indian registered Public Limited company listed on The Stock Exchange, Mumbai and The National Stock Exchange of India Ltd. SEAMEC is a part of TECHNIP GROUP, France. COFLEXIP STENA OFFSHORE (MAURITIUS) LTD (CSOML) holds 75% shares in SEAMEC. CSOML is a wholly owned subsidiary of STENA OFFSHORE (JERSEY) LTD who in turn is totally held by TECHNIP OFFSHORE NV. TECHNIP OFFSHORE NV is a wholly owned subsidiary of TECHNIP OFFSHORE INTERNATIONAL SA (FRANCE) the latter company being the direct and 100% subsidiary of TECHNIP SA (FRANCE). Thus SEAMEC’s ultimate holding company is TECHNIP SA, FRANCE.
1986: SEAMEC was incorporated as Peerless Leasing Private Ltd. on December 29.
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: Coflexip Stena Offshore Mauritius Ltd. the wholly owned subsidary of Coflexip acquired 8.38% of company.
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 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 organisation.
2001: with the acquisition of the Coflexip Group by Technip of
France, SEAMEC becomes a subsidiary of the largest oilfield
engineering, construction and service group in Europe and part of an
organisation with total annual turnover of more than US$5 billion and a
permanent workforce of 22,000.
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.
Historically, Peerless Shipping & Oilfield Services Ltd. operations consisted primarily of chartering the three DSV's to ONGC on long-term day-rate contract. However since being acquired by Coflexip Stena Offshore and later by Technip the capabilities of the company have been expanded to encompass a wider range of subsea intervention and oilfield support services.
Seamec's Shares are tradable compulsorily in electronic form with effect from 24/08/2000 and accordingly the company has established connectivity with both the depositories i.e. National Securities Depository Ltd. (NSDL) and Centre Depository Services (India) Ltd. (CDSK).
Shares of Seamec are listed on:
Financial Calendar: April 2013 - March 2014
Twenty Sixth Annual General meeting: August 6, 2013
1st Quarterly Results: August 6, 2013
2nd Quarterly Results: November 2013
3rd Quarterly Results: February 2014*
4th Quarterly Results: May 2014*
Company's Financial Performance:
Seamec non-Executive Directors receive sitting fees for their attending Board and/or Committee meetings.
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Corporate Governance Compliance:
Seamec Board Directors and Senior Management abide by the Code of Conduct and Ethics approved by the Board on October 18, 2005.
The "Audit Committee" and "Shareholder's / Investors grievances and Transfer Committee" were reconstituted as on April 18, 2007 are as under:
Mr. S. N. Mohanty
Chief Legal Officer & Company Secretary
Tel: +91 22 66941800 / 33041800