Global Offshore Services (Formerly known as Garware Offshore Services) one of the leading offshore vessels services providers has announced a Preferential Allotment of Shares / Warrants to part finance the capital expenditure and to support the increased global operations of the Company.
In the Board Meeting held on Friday, July 8, 2011, subject to approvals, it was decided to issue, offer and allot a maximum of 4,40,000 equity shares of Rs.10/- each to Corporations Acting in Concert with the Promoters at a price of Rs. 121/- per share (face value of Rs. 10/- each and premium of Rs.111/- per share) on a preferential allotment basis and to offer and allot a maximum of 4,69,700 Warrants to the Promoters / Promoter Companies and Key Management Persons, entitling the Warrant holder to exercise an option to subscribe to 4,69,700 equity shares of the Company at the same price.
Commenting on this development, Aditya Garware, Vice Chairman and Managing Director, Global Offshore Services said, “The funds raised will be allocated to expansion of Global Offshore’s fleet size and to meet demands of increased global presence”.
About Global Offshore Services:
Global Offshore Services is engaged in the business of providing offshore logistics support services to the exploration & production/construction industry. The company presently operates a fleet of thirteen vessels.
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The company's vessels are working in various markets including india, europe, west africa, south america and the far east.