Sealift Changes Name to Dockwise Ltd.
At the Annual General Meeting of Shareholders today, shareholders approved the name change of Sealift Ltd to Dockwise Ltd. This name change will take on July 31. The Dockwise Group of companies is an integrated heavy lift services providers. Following the recent combination with its parent company Sealift Ltd, the Dockwise Group of companies currently owns a fleet of 22 vessels, of which 17 are semi-submersible heavy transport vessels and the remaining 5 are due to be converted into semi-submersible heavy transport vessels. The Dockwise Group of companies is able to transport the heaviest cargos over vast distances. In addition, the Dockwise Group of companies provides its customers with high value added services such as engineeringā¦
Dockwise Acquires Offshore Kinematics
Sealift Ltd, the parent company of the Dockwise group of companies has signed an agreement to acquire the entire share capital of Offshore Kinematics Inc (OKI) and Ocean Dynamics LLC (ODL). As consideration for the acquisition, the company has agreed to issue 6.9 million new shares, of which 3.2 million 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. The company expects revenue synergies and growth potential for the Dockwise Group from these acquisitions. This combination enhances the Dockwise Group position as a leading integrated transport and installation service provider for the Oil and Gas sector, in particular through float overs.
Sealift/Dockwise Acquires OKI and ODL
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.
