Keppel and Seatrium end share arrangement

Following this development, Keppel said it no longer has liability.

Keppel Ltd. and Seatrium Limited have agreed to terminate their segregated account arrangement.

In a bourse filing, Keppel said this arrangement with Seatrium is pursuant to the combination of the latter and Keppel Offshore & Marine Ltd which was completed on 28 February 2023. The arrangement addressed potential liabilities Seatrium had against Keppel related to the combination.

“The company wishes to update shareholders that the company has no further liability in respect of the identified contingent liabilities, and that the company and Seatrium have agreed that the segregated account arrangement shall terminate,” Keppel said.

As at 31 December 2024, the cash balance in the segregated account amounted to approximately over $274.75m and the number of remaining retained consideration shares was 68,600,000.

Keppel does not expect the termination of the segregated account arrangement to have a material impact on its net tangible assets per share or its earnings per share of the for the current financial year.

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