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Saga Tankers News

15 Mar 2019

Saga Completes Merger

Norway-based Saga Tankers ASA has completed its reorganization.It's 100% owned subsidiaries Strata Marine & Offshore AS, Saga Julie AS, Saga Unity AS and Saga Chelsea AS have completed the merger with Saga Tankers ASA, the company announced. As a result, all assets has been transferred to Saga Tankers ASA. This include, but are not limited to, shares in Vistin Pharma ASA.After the completion of the merger Saga Tankers ASA will only have Vallhall Fotballhall KS, Vallhall Fotball AS and Vallhall Fotballhall Drift AS as subsidiaries.

03 May 2018

Allum Holding, Ferncliff Sell Stake in Saga Tankers

Norway-based shipping company Saga Tankers ASA said in a stock exchange announcement that  Allum Holding AS and Ferncliff AS have today sold all of their 47,726,655 shares in Saga Tankers, representing approximately 17.9% of the share capital. Ferncliff AS has sold 6,235,316 shares in the Company and Allum Holding AS has sold 41,491,339 shares in the Company. The price per share in the Secondary Sale was NOK 1.65. DNB Markets, a part of DNB Bank ASA, acted as sole bookrunner for the Secondary Sale. Allum Holding AS and Ferncliff AS are both owned by Øystein Stray Spetalen, member of the Board of Directors of Saga Tankers. Following the Secondary Sale…

25 Oct 2011

DHT Holdings 3Q Results

DHT Holdings reported revenues for the period from July 1 to September 30, 2011 of $26.6 million, compared to revenues of $23.3 million for the prior-year period. For the quarter there was no profit sharing under our profit-sharing arrangements. Our vessels were on-hire 99.7% for the quarter. This does not include planned off-hire during the quarter related to the DHT Chris completing its special survey and dry-dock. The next scheduled class surveys are special surveys and dry-docks for two VLCCs; one each in the fourth quarter 2011 and first quarter 2012. In addition, two Aframax vessels are scheduled for interim surveys in the fourth quarter of 2011.

01 Jun 2011

DHT Holdings to Acquire Saga Tankers

The Boards of Directors of DHT and Saga have entered into a transaction agreement regarding an acquisition of Saga by DHT. Under the terms of the agreement, DHT will put forward a recommended voluntary exchange offer (the "Offer") pursuant to the Norwegian Securities Trading Act for all of the shares of Saga. The consideration offered will be 0.25 DHT shares per Saga share. The Offer consideration corresponds to NOK 5.44 per Saga share, based on the closing share price of DHT on 27 May 2011 of USD 4.01, applying an USDNOK exchange rate of 5.43, and values the total share capital of Saga at approximately NOK 472.4 million or USD 87.0 million.