Seamec gets nod for demerger

Seamec on Wednesday informed the exchanges that its board has considered and approved the draft scheme of arrangement between HAL Offshore and Seamec for demerger of the EPC & Vessel Division of HAL Offshore into Seamec. The Audit Committee of the company had earlier recommended the proposal to the board. The proposed Scheme of Arrangement is subject to approvals by the stock exchange, SEBI, NCLT and other competent authorities. Shares of Seamec closed at ₹154.60, down 0.26 per cent, on the NSE.