Singapore's First Ship Lease Trust (FSL Trust) has announced the suspension of trading in its shares pending an announcement to clarify lenders' position in relation to a covenant waiver or relaxation for 30 September 2013.
About FSL Trust
First Ship Lease Trust ("FSL Trust") was constituted as a business trust in Singapore on 19 March 2007 under the Business Trusts Act and listed on the main board of the Singapore Exchange Securities Trading Limited on 27 March 2007. Its American Depository Receipts are quoted on OTCQX since 29 October 2008. The Sponsor of FSL Trust is FSL Holdings Pte. Ltd.
FSL Trust’s business focuses on long-term bareboat leasing from which it derives stable long-term cash flow. The Trust has a diversified portfolio of 25 modern and high quality vessels, comprising seven containerships, 11 product tankers, three chemical tankers, two dry bulk carriers and two crude oil tankers.
FSL Trust is listed on the main board of the Singapore Exchange Securities Trading Limited (SGX-ST) and its American Depository Receipts (ADR) are quoted on the PrimeQX tier of International OTCQX.