United States

DHT Holdings Inc (DHT)

DHT on New York Consolidated

23 Mar 2017
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Latest Key Developments (Source: Significant Developments)

DHT Holdings Inc acquires 11 VLCCs from BW Group
Thursday, 23 Mar 2017 04:52am EDT 

DHT Holdings Inc : DHT Holdings Inc Announces acquisition of 11 VLCCsfrom bw group and equity issue at $5.37 per share . Says expects that BW Group's VLCC fleet will be delivered during Q2 of 2017 . DHT Holdings Inc - BW Group's VLCC fleet has a value of approximately $538 million at prevailing broker valuations . Says fleet consists of 11 VLCCs, including two newbuildings due for delivery in 2018. . DHT Holdings Inc - will finance acquisition by issuing approximately $256 million of DHT capital stock, consisting of approximately 32 million shares of DHT common stock .DHT Holdings Inc - will also pay BW Group $177.36 million in cash and assume approximately $104.16 million in remaining obligations with respect to two newbuildings.  Full Article

DHT Holdings announces sale of its oldest VLCC
Friday, 17 Mar 2017 08:36am EDT 

Dht Holdings Inc - : Announces sale of its oldest VLCC . Deal for for $24.8 million . About $13.0 million of bank debt will be repaid in connection with sale and company will record a book loss of about $4.0 million in Q1 2017 .Company will deliver vessel to its new owners during Q2 and it is expected to retire from trading fleet.  Full Article

DHT Holdings announces financing of VLCC newbuildings
Wednesday, 1 Mar 2017 07:15am EST 

Dht Holdings Inc : Announces financing of VLCC newbuildings . Financing will cover about 50% of contract price with remainder being financed by cash at hand . Financing has a 5 year tenor and its 20 year repayment profile is in support of DHT'S low cash break-even levels . Does not intend to issue any stock to finance two newbuildings .Bank financing has a margin of 250bps above libor and 50% of financing is structured as a revolving credit facility.  Full Article

Frontline CEO sees more options after failed DHT bid
Tuesday, 28 Feb 2017 09:28am EST 

Frontline Management CEO Robert Hvide Macleod said: there are plenty of options in the market, there are other things we could do than the DHT deal . we are surprised and disappointed DHT turned down our offer, we are considering our next step . there have been some conversations with DHT but no negotiations, there is where it stands . we think earnings will be lower in 2017 than we saw in 2016 due to peak in newbuildings . we believe market will start tightening in 2018 when lower order book and old vessels are retiring . many customers want vessels that are no more than 15 years old at the most; Chinese clients have that preference and it's more and more difficult to find employment for vessels that are older ... this trend will definitely contribute to a stronger market in 2018 and 2019 Further company coverage: [DHT.N][FRO.OL] (Reporting by Ole Petter Skonnord, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

Tanker firm Frontline says DHT Holdings rejected an improved offer
Tuesday, 28 Feb 2017 02:46am EST 

Frontline Ltd : Frontline q4 net result $18.3 million (reuters poll $20 million) . Frontline declares quarterly dividend $ 0.15 per share (Reuters poll $0.12 per share) . Frontline ltd says in February, Frontline presented an improved and final offer of 0.80 Frontline shares per DHT share, which was declined by DHT's board. . Frontline ltd says as DHT's largest shareholder we are surprised that DHT's board has declined our repeated attempts to discuss a business combination that we believe is clearly in best interest of all shareholders. . Frontline q4 operating profit $17.8 million (reuters poll $35 million) . Frontline ltd says we remain of the opinion that 2017 will see pressure on freight rates as further newbuildings are delivered. . Frontline ltd says while capacity additions to the global tanker fleet are expected to put pressure on rates over the next 12 months, the company maintains a positive long term outlook on the tanker market. .Frontline ltd says the market will begin to tighten in 2018.  Full Article

DHT Holdings recieves offer from Frontline to acquire all of its outstanding shares
Sunday, 29 Jan 2017 06:33pm EST 

Dht Holdings Inc : DHT Holdings, inc. Announces receipt of non-binding proposal, adopts one-year shareholder rights plan . DHT Holdings -received a non-binding, from Frontline to acquire all of outstanding shares of common stock of DHT in a stock-for-stock transaction . Says Frontline has proposed a ratio of 0.725 of a Frontline share for each share of DHT .Says board has unanimously adopted a one-year shareholder rights plan.  Full Article

DHT Holdings adjusts conversion price of its 4.5% convertible senior notes
Wednesday, 24 Aug 2016 05:38am EDT 

DHT Holdings Inc: DHT Holdings announces an adjustment to conversion price of its 4.5% convertible senior notes due 2019 .Conversion price was adjusted from $6.9651 per share to $6.6570.  Full Article

DHT Holdings Q2 earnings per share $0.38
Tuesday, 9 Aug 2016 04:50pm EDT 

Dht Holdings Inc : Dht holdings, inc. Second quarter 2016 results . Q2 earnings per share view $0.30 -- Thomson Reuters I/B/E/S . Q2 earnings per share $0.38 . Dht holdings inc says will pay a dividend of $0.23 per common share for quarter . Qtrly diluted eps $0.34 . Dht holdings inc says vlccs operating in spot market achieved time charter equivalent earnings of $53,340 per day in q2 of 2016 .Qtrly adjusted net revenue $83.2 million versus $68.1 million.  Full Article

DHT Holdings Inc announces sale of 2000 built Suezmax for $26.5 mln
Monday, 4 Jan 2016 08:28am EST 

DHT Holdings Inc:Announces sale of 2000 built suezmax.Says deal valued at $26.5 million.Says will record a book loss of $0.8 million in connection with the sale, which will be recorded in the fourth quarter 2015.Entire net proceeds are applied to repay debt under rbs facility and are in support of co's capital allocation policy.  Full Article

DHT Holdings Inc declares dividend
Wednesday, 29 Jul 2015 06:23am EDT 

DHT Holdings Inc:Says the company will pay a dividend of $0.15 per common share for the quarter payable on Aug. 20 for shareholders of record as of Aug. 12.  Full Article

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Deals of the day-Mergers and acquisitions

March 23 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday: