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Havila Shipping ASA Completes Private Placement and Announces Subsequent Offering of Shares


Tuesday, 11 Dec 2012 02:53am EST 

Havila Shipping ASA announced that it raised NOK 200 million in gross proceeds through a private placement of 8,333,334 new shares, each with a par value of NOK 12.50, at a subscription price of NOK 24 per share. The placement represents approximately 39% of the outstanding share capital of the Company. The net proceeds will be used to finance equity portion of consideration for the intended acquisition of equity in the companies owning AHTS vessels MV Havila Mars and MV Havila Mercury and for general corporate purposes. Shares are expected to be transferred to applicant's account with Norwegian Central Securities Register by the Managers against payment for the shares on or about December 14, 2012. Delivery of allocated shares will be made by delivery of existing and unencumbered shares in the Company made available to Pareto Securities AS (settlement manager) by Havila AS pursuant to a share lending agreement. The new shares (less those shares allocated to Havila AS) will be issued to Pareto Securities and used by it to fulfill its obligation to redeliver borrowed shares to Havila AS. The Board intends to carry out a subsequent offering of shares at NOK 24 per share. The offering will be directed at shareholders of the Company as of December 10, 2012, not invited to subscribe for shares in pre-sounding of the private placement and not allocated shares in private placement. The Company's shares will trade exclusive right to participate in the offering from December 11, 2012. 

Company Quote

35.4
0.4 +1.14%
11 Jul 2014