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

Tanker Trends

Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday.

NASSCO Delivers First ECO Class Tanker for SEA-Vista

On Thursday, April 28, 2016, General Dynamics NASSCO delivered the first ship in a series of three ECO Class tankers currently under construction for SEA-Vista LLC.

Crowley to Christen 3rd LNG-ready Product Tanker

Crowley Maritime Corp. announced it will hold a christening ceremony Thursday, May 5 in New Orleans for the newly built Louisiana, the company’s third of four new Jones Act product tankers.

News

Louis Dreyfus, Amaggi Hire HSBC to Sell Terminal Stake

Agricultural commodity traders Louis Dreyfus Co B.V. and Amaggi Group have hired HSBC Holdings Plc to sell part or the entire 25 percent stake they hold in a terminal at the Brazilian port of Itaqui,

GPA Will Continue Weighing Containers at No Cost to Shippers

The U.S. Coast Guard announced last week that state-calibrated scales already in use at the Port of Savannah meet a new requirement of the international Safety of Life at Sea (SOLAS) Convention.

ITIC Reports on Ship Agents' Costly Transhipment Errors

International Transport Intermediaries Club (ITIC) says it continues to deal on a regular basis with claims resulting from errors by agents involving transhipment cargoes.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Ship Repair 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: 0.0928 sec (11 req/sec)