Marine Link
Tuesday, January 23, 2018

General Meeting News

Ocean Rig Announces 2013 Shareholders Meeting Results

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, has announced  the results of its 2013 Annual General Meeting of Shareholders. The following proposals were approved and adopted at the meeting:    The election of Messrs. Savvas D. Georghiades and Kyros Melas as Class C Directors to serve until the 2016 Annual General Meeting of Shareholders; and  the ratification of the appointment of Ernst & Young (Hellas) Certified Auditors Accountants S.A., as the Company’s independent auditors for the fiscal year ending December 31, 2013.

Proposed Name Change, Statoil ASA

Styreleder Svein Rennemo

The board of directors of StatoilHydro will propose to the company’s Annual General Meeting on 19 May that the company name be changed to Statoil ASA. On 27 February this year, the board of directors received a letter from the Norwegian Ministry of Petroleum and Energy which stated that “the Norwegian State at the Annual General Meeting will only vote for proposals which include the name Statoil, either alone or as the dominating part of a new name”. ”The question of the company’s name is to be decided by the owners at the Annual General Meeting…

Hydro's Board Seeks Share Buyback

The Board of Norsk Hydro ASA will at the company's Annual General Meeting May 11, 2004, ask for authorization to buy back shares. Under this authorization, the Board may buy up to 2,808,810 of the company's own shares in the market, over the 18 months period commencing May 12, 2004. Each share may be purchased at prices ranging from NOK 200 to NOK 700 per share. The Board will at a subsequent General Meeting propose to cancel the purchased shares, with a corresponding write down of the share capital. Based on an agreement with the Norwegian State, Hydro's largest shareholder, the Board will also propose cancellation of a proportional part of the State's shares. The State's ownership share will therefore remain unaffected by the buyback.

Nordic American Tankers AGM Agrees Share Capital Increase

Nordic American Tankship: Photo credit NAT

Nordic American Tankers (NAT) informs it held its Annual General Meeting (AGM) recently in Hamilton Bermuda. The reduction of the Company's share premium account by approximately $208.2 million, which is the amount paid up in excess o f the aggregate par value of the outstanding common shares, par value $0.01 per share, was approved.

Nordic Tankers - Extraordinary General Mtg

According to a report from BYM News, Nordic Tankers A/S have received a demand for summon of an extraordinary general meeting from the shareholders Mogens Bushard and Hasse Larsen who jointly represent more than 10% of the share capital. The purpose of the extraordinary general meeting is to elect a new Board of Directors. (Source: BYMNews.com)

Hamburg Hosts Multiport General Meeting

The Multiport Ship Agencies Network held its autumn General Meeting in Hamburg this week, concluding with a well attended cocktail reception in the Atlantic Hotel for over 200 members of the Hamburg shipping community on Tuesday evening, 15th October. Peter Titchener, Secretary-General, said, "We are very proud to be back in Hamburg, one of the major centres of world shipping. We are here not only to thank everyone for supporting our member agents, but to explain how we can add value to the services we offer."

Hapag-Lloyd Pushes Back AGM on Merger Talks

Photo: Hapag-Lloyd

Hapag-Lloyd said it had decided to postpone its annual general meeting scheduled for June 1, 2016 due to ongoing merger talks between German container shipping firm and United Arab Shipping Company (UASC).   The AGM will take place in August 2016 at the latest, Hapag-Lloyd said in a statement on Tuesday.   Last week, Hapag-Lloyd said that UASC had called an extraordinary general meeting for June 2 at which its shareholders would vote on whether to approve a proposed merger with Hapag-Lloyd.   (Reporting by Bartosz Dabrowski)

Stolt Offshore Announces General Meeting

Stolt Offshore S.A. announced that an Extraordinary General Meeting of shareholders will be held on Thursday, October 17, 2002 at 3:00 p.m. local time at the offices of Services Généraux de Gestion S.A., 23, avenue Monterey, L-2086 Luxembourg. The Board of Directors of Stolt Offshore S.A. (the "Company") has determined that Common Shareholders of record as of the close of business on September 9, 2002 will be entitled to vote. The purpose of this meeting is to consider and approve a recommendation of the Audit Committee and the Board of Directors of the Company to elect Deloitte & Touche S.A. as the Auditors of the company for a term to expire at the next Annual General Meeting of Shareholders.

NOL Gets Nod For $500M Fund Plan

Neptune Orient Lines’ (NOL) shareholders reportedly approved a $500 million capital raising initiative at an extraordinary general meeting.

Excel Maritime Announces Results

Excel Maritime Carriers Ltd. (NYSE: EXM) announced the results of the annual general meeting of its shareholders. At the meeting the following proposals were approved and adopted: the election of seven Directors of the Company; the appointment of Ernst & Young as the Company’s independent auditors for the fiscal year ending December 31, 2006; an amendment to the Company’s Articles of Incorporation as set forth in proposal one as described in the Proxy Statement for the Annual General Meeting. Excel Maritime Carriers Ltd. is an owner and operator of dry bulk carriers and a provider of worldwide seaborne transportation services for dry bulk cargoes, such as iron ore, coal and grains, as well as bauxite, fertilizers and steel products.

Challenging Themes at BIMCO’s Vancouver General Meeting

Climate, energy and demographics are to be discussed by industry leaders in Vancouver BC, when BIMCO, the world’s largest representative shipping organisation holds its General Meeting in the Canadian city in June this year. Issues of sustainability are never far from the thoughts of ship operators these days, especially when contemplating the purchase of new ships, which may well have a 25 year lifespan. Shipping people have to look further ahead than most, as they contemplate the future demand for their ships…

Biggi Set to Retire from UK P&I Club

Chairman Tullio Biggi has announced he will be retiring from the board of the  P&I Club with effect from the annual general meeting in October 2008. Biggi’s announcement follows his decision to retire from V.Ships, the company he has represented on the board since first being elected a director of the Club in 1998. He served as a deputy chairman from 2001 and was elected by his fellow directors as chairman in October 2005.   The Board has nominated C.I. Caroussis of Chios Navigation Co Ltd to succeed him as chairman in October 2008 following the annual general meeting.  Mr Caroussis is currently a deputy chairman of the Club and also chairman of () Club.  He has been a director since 1996 and was elected a deputy chairman in 2002.

Moschou Elected to Odfjell Board

At an Extraordinary General Meeting held Nov. 6, Mrs. Marianna Moschou, 54, was elected to Odfjell's board of directors. Odfjell's board consists of B. D. Odfjell jr. (Chairman), Terje Storeng, Peter G. Livanos, Reidar Lien and Marianna Moschou. The company intends to elect another director at the Annual General Meeting to be held in the spring 2004. Until late 2001 Mrs. Moschou served as the Deputy Head of Citibank's Global Shipping Division with responsibility for Citibank's shipping business in Greece, Southern Europe and Middle East. She joined Citibank in 1967.

Aker Philadelphia Shipyard : Buyback Program of Own Shares

 Aker Philadelphia Shipyard

The Board of Directors of Aker Philadelphia Shipyard ASA has resolved to initiate a buyback program for up to 10% of the Company's share capital. The decision reflects the Company's focus on maximizing shareholder returns over time, its strong financial position, its confidence in its ability to deliver on its operational commitments, and a reflection of the opportunities it sees to further develop its shipping investments. The buyback program will be continuously evaluated to maximize its value to the Company's shareholders, including price at which buybacks are executed.

Rolls-Royce Holdings' Voting Rights and Capital

In accordance with DTR 5.6.1 of the FCA's Disclosure and Transparency Rules (DTR), the Company is required to notify the market of its total number of voting rights and capital as at the end of each calendar month. 1,886,395,243 ordinary shares of 20p each with voting rights. 1 Special Rights non-voting share of £1 with no voting rights. 22,005,007,762 non-cumulative redeemable preference shares of 0.1p each (C Shares) with no voting rights except at any general meeting at which a resolution to wind up the Company is to be considered in which case the holders of C Shares shall have the right to attend the general meeting and shall be entitled to speak and vote only on such resolution. None of the ordinary shares or C Shares are held in Treasury.

Rolls-Royce Notifies Total Voting Rights

Image

In accordance with DTR 5.6.1 of the FCA's Disclosure and Transparency Rules (DTR), the Company is required to notify the market of its total number of voting rights and capital as at the end of each calendar month. 1,886,455,159 ordinary shares of 20p each with voting rights. 1 Special Rights non-voting share of £1 with no voting rights. 22,005,007,762 non-cumulative redeemable preference shares of 0.1p each (C Shares) with no voting rights except at any general meeting at which…

Philly Shipyard to Pay Extraordinary Dividend

Photo Philly Shipyard

In its second quarter report Philly Shipyard ASA announced that additional extraordinary dividend would be paid following the deliveries of Hulls 024 and 025. Subsequent to the delivery of Hull 024 to Crowley and the buy-out of the Company's joint venture interest in that vessel by Marathon, the Company has a solid cash position to pay an extraordinary distribution of dividend to the Company's shareholders. The Board of Directors has therefore resolved to propose that the general meeting of the Company approves an extraordinary dividend of USD 3.00 per share.

Employee Representatives Elected to NORDEN Board of Directors

NORDEN headquarters (Photo: NORDEN)

The new employee representatives will join the Board of Directors immediately following the annual general meeting, which will be held on Thursday, April 23, 2015. The present employee representatives Ole Clausen, Anne-Katrine Nedergaard and Lars Enkegaard Biilmann will withdraw from the Board of Directors immediately following the annual general meeting on April 23, 2015. However, Lars Enkegaard Biilmann will join the Board of Directors again as he has been reelected.

ASA Holds First General Meeting

The American Salvage Association (ASA) recently held its first general meeting in New Orleans. ASA initiated its 4-C's Program: Communication, Co-operation and Competent Completion. ASA members agreed to the increased capital expenditures, expanding training and an experienced labor pool to complement the expanding interest by the U.S. Federal Government as well as States in the field of marine casualty response. "We are certain history has amply demonstrated that a prompt, effective salvage response is by far, the most efficient, cost effective road to success in protecting our marine environment as well as the general public," said Arnold Witte, ASA's president. "Our interest now is to continue to build a response for the future.

Transocean Ltd. Board Nominates New Director

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that the Board of Directors is recommending that the company's shareholders approve at the 2011 Annual General Meeting the election of Steve Lucas as a Class III Director for a three-year term. Mr. Lucas is the retired Group Finance Director of National Grid plc and has previously served in a variety of finance roles with the Lattice Group plc., the BG Group plc and Royal Dutch/Shell. -- The re-election of Ian C. Strachan and Martin B. McNamara as Class III Directors for three-year terms. -- The election of Jagjeet S.

Nordic American Tanker AGM Results

Nordic American Tankers Limited announced the official results of its 2011 Annual General Meeting, held on June 1, 2011 at 10:00 a.m. in Hamilton, Bermuda. 5. The change of the Company's legal name to "Nordic American Tankers Limited" was approved. In addition, the Company's audited financial statements for the year ended December 31, 2010 were presented at the Meeting. The authorized capital has not been increased since the company's founding in 1995, when its fleet consisted of three vessels. Today, the company's fleet consists of 19 vessels, including newbuildings. The increase in the authorized capital is intended to facilitate the company's continued growth. The company, however, does not have any immediate plans to conduct an offering of its common shares.

TEN Holds Eleventh Annual General Meeting

Tsakos Energy Navigation Limited (TEN)today announced that it had conducted its Annual General Meeting (AGM). * Mr. D. John Stavropoulos and Mr. two-year terms on the Board of Directors. * Mr. W. O'Neil and Mr. Directors to serve two-year terms.

Merger Plan Signed by Boards of Hydro and Statoil

The Board of Directors of Statoil ASA and Norsk Hydro ASA have now signed the final plan to demerge Hydro as part of the planned merger of Hydro's petroleum activities with Statoil. Hydro's shareholders will own 32.7% and Statoil's shareholders will own 67.3% of the merged company. As recompense for the transfer of Hydro's petroleum division, Hydro's shareholders will receive a 0.8622 share in the merged company for every share they own in Hydro. The reason for the merger is a mutual desire to create a globally competitive player in the petroleum industry and to be the world's biggest offshore operator. The boards have emphasized that the merger is a growth-oriented response to the challenges facing the industry…

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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