Mermaid Maritime Public Company Limited has incorporated an indirect wholly owned subsidiary, Mermaid Subsea Services (UK) Limited (“MSS UK”), in the United Kingdom.

The Company intends to utilize MSS UK as a vehicle to expand the provision of its subsea and related services into the North Sea sector.

The incorporation of MSS UK is funded using internal resources and the incorporation itself is not expected to have any material impact on the net tangible assets per share and earnings per share of the Company as a group for the financial year ending 31 December 2020.

None of the Directors, substantial shareholders or controlling shareholders of the Company has any interest, direct or indirect, in the incorporation of MSS UK, other than through their respective shareholdings in the Company.

KeyFacts Energy Industry Directory: Mermaid Maritime