Nordic Shipholding to Exercise Divestment Option
Nordic Shipholding A/S decides to exercise its option agreement with Nordic Tankers Shipowning A/S and Clipper Group A/S. The option agreement referred to was dated 28, March 2012. In connection with the divestment of the chemical tanker activities in Nordic Shipholding A/S as referred to in company announcement no. 1/2012 and no. 5/2012 a vendor note with a total principal of USD 20,000,000 was issued by Nordic Tankers Shipowning A/S in favour of the company. The option allows Nordic Shipholding A/S to assign the vendor note to Clipper Group A/S against the termination of the company's obligations towards Clipper Group A/S in an aggregate amount of USD 15,000,000. Exercising the option will result in a loss of approximately USD 5 million for 2012.
Nordic Shipholding Sells Chemical Tanker Activities
Nordic Shipholding A/S completes sale of chemical tanker activities. In continuation of company announcement no. 1/2012 published via NASDAQ OMX on 27 March 2012, Nordic Shipholding A/S (formerly Nordic Tankers A/S) today has completed the sale of its chemical tanker activities to a company controlled by Triton, a European investment company. The acquiring company has today changed name to "Nordic Tankers A/S".