Nimrod Sea Assets Ltd aims to obtain income return and capital appreciation for its shareholders by participating in vehicles which acquire, charter and sell Marine Assets associated with the offshore oil and gas industry.
Nimrod Sea Assets Ltd typically obtains exposure to Marine Assets by acquiring minority interests in special purpose holding companies (Marine Asset Companies), each of which will ordinarily hold a single Marine Asset. The Company will seek exposure to Marine Assets that have been or will be chartered on medium to long term leases to reputable Marine Asset Operators.
The majority of the Marine Assets by number to which Nimrod Sea Assets Ltd will have exposure at any time will be those that are needed for the inspection, repair, maintenance and operation of installed infrastructure and production equipment for use in the offshore oil and gas industry. Income distributions will derive from payments under the Charter Party Agreements. On the basis that capital is not returned prior to the winding up of the Company, the Company will, once fully invested, target half yearly distributions to investors, amounting to yearly distributions of 10 per cent. of the Issue Price of US$1.00 per Share
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