Singapore's Mercator Lines Sell off Subsidiary

Press Release
Monday, March 18, 2013

Mercator Lines has signed a share purchase agreement for the sale of its 81% stake in Target Ship Management.

The sale of its 81% stake in the Company comprised 426 ordinary shares and realised SGD 128,709.00 in cash. Following the disposal, Target Ship ceased to be a subsidiary of the Mercator Lines.

Mercator state that the transaction is not expected to have a material effect on the consolidated net tangible assets per share and earnings per share of the company for the current financial year.

Common directors have resigned from the Board of Directors of Target Ship and the substantial shareholder also disposed its shareholdings in Target Ship.

 

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

People & Company News

ABS’ Wiernicki Addresses SUNY Maritime Grads

ABS Chairman, President and CEO Christopher J. Wiernicki addresses SUNY Maritime College graduates, awarded honorary Doctor of Science   Christopher J. Wiernicki,

Moody's Dings Hurtigruten's Outlook Due to Newbuilds

Moody's Investors Service, (Moody's) issued a press release affirming the B2 corporate family rating (CFR), B2-PD probability of default rating, and the B2 senior

ShipDC Launches with New Leader at the Helm

Ship Data Center Co., Ltd., a wholly owned subsidiary set up by ClassNK, has officially commenced operations of its big data center, ShipDC, from April 2016. Taking

Finance

Moody's Dings Hurtigruten's Outlook Due to Newbuilds

Moody's Investors Service, (Moody's) issued a press release affirming the B2 corporate family rating (CFR), B2-PD probability of default rating, and the B2 senior

NOL Posts Q1 Net Loss of $105 Mln

NOL Group reported a first quarter 2016 net loss after tax of $105 million. Core EBIT (Earnings before Interest, Taxes and Non-Recurring Items) for the period was a loss of $84 million,

US Aims to Recover El Faro VDR in Next Few Months

The U.S. National Transportation Safety Board hopes to recover the voyage data recorder from the cargo ship El Faro, which sank during a hurricane killing all 33 crew on board,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair 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: 0.0852 sec (12 req/sec)