Being bold, I present ring at sea (12)
I believe the answer is:
enterprising
'being bold' is the definition.
('enterprising' can be similar in meaning to 'bold')
'i present ring at sea' is the wordplay.
'at sea' indicates an anagram.
'i'+'present'+'ring'='ipresentring'
'ipresentring' is an anagram of 'ENTERPRISING'.
(Other definitions for enterprising that I've seen before include "Venturesome" , "Go-getting" , "Showing initiative" , "Adventurous, resourceful" , "Adventurous and imaginative" .)