Sealift/Dockwise Acquires OKI and ODL

Wednesday, July 18, 2007

Sealift Ltd the parent company of the Dockwise group of has signed an agreement to acquire the entire share capital of Offshore Kinematics Inc (OKI) and Ocean Dynamics LLC (ODL). The company has agreed to issue 6.9m new shares, of which 3.2m will be held in escrow and released in annual installments over 3 years, plus $15.7m in cash to the current principals of OKI and ODL.

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