Seatrium Limited (SG:5E2) has released an update.
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Seatrium Limited has reached a full and final settlement with Awilco Drilling PLC and its subsidiaries over two arbitration awards, with Awilco’s AR2 receiving a $57 million settlement sum. Under the terms of its Asset Co Transaction, RigCo will cover the settlement and related legal fees, resulting in no financial impact on Seatrium New Energy or its parent group. This agreement is not anticipated to affect Seatrium’s net tangible assets or earnings per share for the fiscal year 2024.
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