13 Jun 2014 10:50
Goldenport Holdings Inc.
Athens, 13 June 2014
Proposed Placing - Update
Further to the announcement published on 3 April 2014 containing details of a proposed placing, Goldenport Holdings Inc. (the "Company" or "Goldenport") provides the following update.
Despite receiving strong levels of institutional demand from existing and new investors in the UK and US, the Board of Goldenport (the "Board") has decided not to proceed with the proposed placing at a material discount to the net fleet value, as the Board believes this is not in the best interest of the Company and its shareholders at this time.
The Company entered into option agreements to acquire option interests in respect of seven identified vessels on 2 April 2014. The Board does not currently intend to exercise the options and expects that they will expire on 30 June 2014, unless they are extended by the grantors in the meantime.
The Board remains confident in the outlook for the dry bulk sector and will continue with its stated strategy to rebalance and grow the Company's fleet of small and medium sized dry-bulk carriers.
For further information, please contact:
Goldenport Holdings Inc. John Dragnis, Chief Executive Officer Alexis Stephanou, Chief Financial Officer | Tel: +30 210 8910 500 Tel: +30 210 8910 542 finance@goldenport.biz |
Panmure Gordon Andrew Godber / Charles Leigh-Pemberton / Alina Vaskina | Tel: +44 (0) 20 7886 2500 |
Tavistock Communications Catriona Valentine / Emily Fenton | Tel: +44 (0) 20 7920 3150 |