Incorporation of Seascape Surveys (Thailand) Ltd.
Ref. No. COR:MS/EL08009e/ms
31 March 2008
Subject: Incorporation of Seascape Surveys (Thailand) Ltd.
To: The President of the Stock Exchange of Thailand
Ref: Disclosure of Information No. COR:MS/EL08005e/ms dated 7 February 2008 in relation to the Acquisition of Seascape Surveys Pte. Ltd.
With reference to the above mentioned disclosure of information, Thoresen Thai Agencies Public Company Limited ("TTA") confirmed that Mermaid Offshore Services Ltd. ("MOS"), a 99.99% owned subsidiary of Mermaid Maritime Public Company Limited ("Mermaid"), and Seascape Surveys Group plan to incorporate Seascape Surveys (Thailand) Ltd. to enhance its Thai-based services in hydrographic surveys and positioning services to the offshore oil and gas industry. TTA would like to report the progress on the transaction as follows:
| 1. Date of Incorporation : | 27 March 2008 | |
| 2. Name of Company : | Seascape Surveys (Thailand) Ltd. | |
| 3. Country of Incorporation : | Thailand | |
| 4. Principal Activity : | Provision of hydrographic survey and positioning services to the offshore oil and gas industry | |
| 5. Registered Capital : | Baht 26,500,000 (Twenty Six Million and Five Hundred Thousand), divided into 2,650,000 shares (Two Million Six Hundred and Fifty Thousand) with a par value of Baht 10 (Ten) each | |
| Paid-up Capital : | Baht 6,625,000 (Six Million Six Hundred and Twenty Five Thousand), or 25% | |
| 6. Shareholders : | Mermaid Offshore Services Ltd. | 80% |
| Seascape Pacific Ltd. | 20% | |
| Total | 100% | |
| 7. Source of Funds : | From an increase in the issued share capital of MOS, which was fully subscribed by Mermaid. | |
Yours faithfully,
|
M.L. Chandchutha Chandratat |
Ms. Nuch Kalyawongsa |
Note: Disclosure of Information by Mermaid on the Singapore Exchange ("SGX-ST") can be viewed at:
http://info.sgx.com/webcorannc.nsf/b36be4e94c61a5f84825735f0028d52b/592 ee59a965af1564825741d0032e780?OpenDocument