SMM

SMM: has signed a MOU with Saudi Aramco and the National Shipping Co of Saudi Arabia (Bahri), one of the largest shipping companies in the world, with the objective of preparing a detailed feasibility assessment aimed at the development of a world-class maritime yard in the Kingdom of Saudi Arabia. The intended maritime yard will provide engineering, manufacturing & repair services related to rigs, platforms, commercial vessels and offshore service vessels. Further details will be announced upon completion of the feasibility assessment. The above is not expected to have any material financial impact on the FY13 results.