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Proposed Placing - Update

13 Jun 2014 10:50

RNS Number : 5834J
Goldenport Holdings Inc
13 June 2014
 



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

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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