SEACON (02409) subsidiary plans to sell a vessel and exercise the option to purchase another vessel.

SEACON (02409) announced that on January 16, 2025, the seller (SEACON Yokohama Ltd, an indirect wholly-owned subsidiary of the company) entered into an agreement with the buyer, Yuchen Logistics Pte. Ltd., whereby the seller agreed to sell and the buyer agreed to purchase a vessel for a price of 19.9 million US dollars. The vessel is a 13,500dwt general cargo ship built in 2023. The vessel is currently leased to the seller under a bareboat charter agreement. The seller intends to exercise the purchase option by December 31, 2025, as per the terms of the bareboat charter, to purchase the vessel at the purchase option price. The vessel purchased by the seller through the exercise of the purchase option will be further transferred to the buyer according to the agreement.