rss icon Subscribe
desktop mobile

Havila Shipping Hikes Capital

Image: Havila Shipping ASA

By Aiswarya Lakshmi

Havila Shipping has made a stock exchange announcement about expected debt conversion to shares according to subscription rights issued as a part of the restructuring of the company.

The Norway-based offshore company announced about sale of vessels. The vessels were delivered to new owner on 9th and 10th November.
The company received on 13 November 2017 exercise notices for 60,909,975 subscription rights related to remaining debt after sale of MV "Posh Vibrant" and MV "Posh Virtue". At the same time the company received exercise notice from Havila Holding AS for subscription of 63,296,375 shares by conversion of part of convertible loan (Anti Dilution Protection Loan).
The calculated equity effect of the debt conversion was booked in the group accounts at the time of implementing the restructuring and the sale will cause minor equity adjustments. The sale will have immaterial effect on company result and no immediate liquidity effect.
The Board of Directors has on 13.11.17 resolved capital increase as follows: The share capital of Havila Shipping ASA increases with NOK 1,242,063.50 from NOK 17,665,558.50 to NOK 18,907,622.00 by issuing of 124.206.350 new shares each with a par value of NOK 0,01 settled through conversion of debt. Total number of shares will when the capital increase is registered in Register of Business Enterprises be 1,890,762,200.
The new shares will rank equal with existing shares from being registered and issued. The capital increase and related changes to the articles of association will be registered with the Register of Business Enterprises as soon as possible.

Nov 14, 2017

 

Finance

Iceland’s Samherji Buys Stake in Eimskip

Photo: Eimskip

Icelandic fisheries company Samherji though Samherji Holding has acquired a substantial share in

London P&I Club Setting up Cyprus Office over Brexit

British ship insurer London P&I Club is setting up a new subsidiary in Cyprus to ensure continued access to trade in the European Union in case Britain loses single market access

CMA CGM Buys Stake in CSP Zeebrugge Terminal

(Photo: Port of Zeebrugge)

French container carrier CMA CGM announced Friday it has acquired from CHINA SHIPPING Ports

Legal

MOL buys Eni's Adriatic Offshore Gas Stakes

Image: ENI

MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group

Iceland’s Samherji Buys Stake in Eimskip

Icelandic fisheries company Samherji though Samherji Holding has acquired a substantial share in Eimskip, Iceland’s longest-established and largest shipping operator.

EU Must Speed Up Approvals of Asian Shipbeaking Yards

Graph: MSI Foresight

The European Union should step up its assessment of Asian shipbreaking yards to allow the

Maritime Apps