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 October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Scanjet Secures 30-ship Tank Management Order

Scanjet Group has followed up its Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning,

Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced

Scanjet Bags Multiple Tank Management Orders

SCANJET Group has followed up its breakthrough Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning,

News

Livorsi Launches New Throttle Lineup

Livorsi Marine introduced the all new Platinum Series throttles, which they say are designed to be more ergonomically comfortable to the operator while being lighter

Henderson, Hanes & Associates Opens Doors in Miami

Ocean Engineering/ Naval Architecture Firm Brings Innovation to the Mega Yacht Community The Miami-based ocean engineering and naval architecture firm of Henderson & Associates, Inc.

Austal Launches Trenton (JHSV 5)

Second Joint High Speed Vessel to be launched at Austal in 2014 On September 30, 2014, Austal USA successfully completed the launch process of Trenton (JHSV

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1712 sec (6 req/sec)