Seamec Limited — Important, 06-12-2024: Updates

The arrest order for the vessel "SEAMEC GALLANT," owned by SEAMEC International FZE, has been lifted by the Fujairah Federal Court of First Instance in the UAE. This development allows the vessel to set sail, providing relief for the company following the prior arrest notification. The release of the vessel is a significant logistical and operational update, eliminating uncertainties associated with its detention. This positive outcome can enhance SEAMEC's operational capabilities and potentially lead to improved financial performance as vessel utilization can resume. Investors should watch closely as this development could influence the company’s operational dynamics moving forward.