Seacon Shipping Group Holdings Limited (SEACON) has confirmed preliminary discussions with Cayman-incorporated Cetus Maritime Holdings Limited regarding a potential disposal of certain wholly owned vessel-holding subsidiaries. The transaction under negotiation covers interests in 13 dry-bulk vessels (“Seacon Vessels”) and, if completed, is expected to be classified as a major transaction under Chapter 14 of the Hong Kong Listing Rules.

Provisional terms envisage a dual-tranche consideration structure: • Cash Component: Approximately 30% of the total consideration would be settled in cash. • Equity Component: The remaining 70% would be satisfied through newly issued ordinary shares of Cetus Maritime (or an affiliate) immediately prior to its planned overseas IPO. The exact share allocation will be linked to the respective net asset values of the fleets and entities involved.

No definitive or legally binding agreement has been executed. SEACON emphasized that there is no certainty the potential disposal will materialize, and timing remains undetermined. Cetus Maritime, an independent third party to SEACON, operates a global dry-bulk fleet and provides ship-management and maritime chartering services.

Shareholders and potential investors are advised to exercise caution when trading SEACON shares pending further announcements.