SEACOR Marine: Gains on expectations of $28.2 mln in tax refunds

SEACOR Marine Holdings

29/06/2020 15:50

** Shares of oil and gas transporter  SMHI.N  rise 5% to
$2.82     
    ** Co expects to receive net amount of about $28.2 mln of
cash from tax refunds  urn:newsml:reuters.com:*:nFWN2E607C
    ** Adds it expects to receive ~$23.7 mln refunds under
Coronavirus Aid, Relief and Economic Security Act within next 9
months
    ** Entered into Tax Refund and Indemnification Agreement
with former parent co, SEACOR Holdings, permitting carry back of
net operating losses generated in 2018 and 2019 to tax years
prior to its spin-off in 2017 - SMHI
    ** Stock down 80% YTD 

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))