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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Sea IT, Veritas Tankers Ink Long-term Software Deal

Sea IT has entered a long term ICT agreement with Veritas Tankers. The agreement comprises installation of BlueCORE Generation 4, an ICT platform specifically developed for the marine industry,

Chemical Shipping Freight Rates to Remain Under Pressure

On the back of low bunker prices and more new buildings to be delivered in 2016, chemical shipping freight rates for both contracts of affreightment and spot cargoes

Total Proposes 0.61 ‎€ per Share Dividend

The Board of Directors of Total met on February 10, 2016, and agreed to propose to the Annual Shareholders’ Meeting on May 24, 2016, a 2015 annual dividend of 2.

News

Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

42 People Rescued after Abandoning Ship off Hawaii

Forty-two people are safe after abandoning ship approximately 1,800 miles south of the Hawaiian Islands, Thursday, the U.S. Coast Guard reported.   Crewmembers

Yacht Club Takes Delivery of New Dredger

Rose City Yacht Club, a long-standing private marina and social club along the Columbia River in Portland, Ore., recently took delivery and startup of a new 8-inch Badger Class dredge from Reserve,

 
 
Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar 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: 0.0882 sec (11 req/sec)