Nordic Tankers Carries Out a Directed Share Issue To Former Minority Investors in Five Chemical Tankers

Friday, March 04, 2011

Nordic Tankers has today carried out a directed issue of 1,181,809 new shares to former minority investors in the five stainless steel vessels acquired from Clipper and other investors in January 2010. The issue increases Nordic Tankers’ share capital by 3.1% from DKK 37,764,888, nominal value, to DKK 38,946,697, nominal value, and as the share issue constitutes less than 10% of the outstanding share capital no prospectus is required. The share issue is based on a partial utilization of the authorization given to the Board of Directors by the General Assembly on 5 November 2010 and included in clause 4.3 of Nordic Tankers’ articles of association.
 
Approximately 55% of the shares have been issued to three former minority investors in exchange for ownership interests acquired in January and February 2011, while the remainder of the shares has been issued to four former minority investors in exchange for vendor notes issued to these investors in connection with the acquisition of the vessels in January 2010.
 
The shares have been issued at DKK 7.426 per share of DKK 1, nominal value, which is the average share price over the last five bank days prior to the issue date, and which in the opinion of the board reflects the prevailing market rate of the share. The proceeds from the issue will consist of ownership shares in four different chemical tankers, in total equal to 0.25 vessel, and cancellation of interest bearing vendor notes issued in January 2010 with a principal of approximately USD 600,000.
 
“Owning, chartering and operating stainless steel tonnage is an important part of our growth strategy, and full rather than partial ownership of our vessels provides us with opportunities to simplify our administrative processes” said Nordic Tankers CEO Tommy Thomsen.

Source: Nordic Tankers

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

CMES Rides High on Hope

China Merchants Energy Shipping (CMES), a major Chinese international oil tanker operator, projects that its profit would be more than doubled in the first half of 2015 from a year ago.

Shipping Gloomiest Since 2009

The shipping industry is the most pessimistic in six years about its prospects as a fleet surplus persists, according to a survey by law firm Norton Rose Fulbright, says a report in Reuters.

South Korea Tops in Shipbuild Orders

South Korean shipbuilders, led by industry leader Hyundai Heavy Industries Co., have secured the largest amount of new orders in the first six months of the year to retain the top slot,

News

CMES Rides High on Hope

China Merchants Energy Shipping (CMES), a major Chinese international oil tanker operator, projects that its profit would be more than doubled in the first half of 2015 from a year ago.

Possibly the Worst Quarter on Zero DSV Utilisation

According to a research note released today from UOB Kay Hian, Singapore offshore vessel operator Pacific Radiance achieved an ominous vessel utilization of 0%

Port Lafito Officially Opens

GB Group, a diversified group of industrial and trading companies, has announced that Port Lafito, a world-class modern container port in Haiti, is open and operational.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1681 sec (6 req/sec)