Sembmarine working towards EGM on proposed merger with Keppel O&M
SEMBCORP Marine (Sembmarine) : S51 0% is working on convening an extraordinary general meeting (EGM) on its proposed merger with Keppel Offshore & Marine as soon as possible. The EGM is expected to take place in January 2023.
In a statement filed last Friday (Dec 23) to the bourse, the offshore and marine player said that submissions have been made to the authorities on its proposed merger with the Keppel Corp : BN4 0% unit.
The proposed merger of the two offshore and marine player giants was first announced in April 2022 with plans to carry out separate schemes of arrangement that will result in Keppel O&M and Sembmarine becoming wholly-owned subsidiaries of the combined entity.
It then stated that it intended to hold its EGM in December 2022 or January 2023, subject to all regulatory approvals and other consents being obtained.
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Sembmarine shares closed at S$0.139 or S$0.001 lower last Friday (Dec 23), before this update was filed.
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