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Keppel Corporation Ltd Announces Joint Venture Agreement With UK Seabed Resources Ltd. And Lion City Capital Partners Pte. Ltd

Sunday, 21 Apr 2013 07:00pm EDT 

Keppel Corporation Ltd announced that the Company and wholly owned subsidiary, Ocean Mineral Singapore Holding Pte Ltd (OMS Holding), have on April 19, 2013 entered into a joint venture agreement with UK Seabed Resources Ltd. (UKSRL) and Lion City Capital Partners Pte. Ltd. (Lion City) to form Ocean Mineral Singapore Pte Ltd, a Singapore-incorporated company (OMS). The principal business activities of OMS are obtaining and maintaining licences for, and causing to be carried out, the exploration and harvesting of polymetallic nodules in certain areas of the international seabed. OMS has applied for its first exploration licence with the International Seabed Authority (ISA), established under the United Nations Convention on the Law of Sea, and the application will be considered by the ISA in July this year. OMS Holding will have a 78.1% interest in the shares of OMS while UKSRL and Lion City will be minority shareholders holding the remaining shares of OMS. 

Company Quote

0.08 +0.85%
31 Oct 2014