Ocean Wilsons Regulatory News (OCN)

26 Jan 2010 09:11



Ocean Wilsons Holdings Limited

Our principal operating subsidiary, Wilson Sons Limited announced to the Brazilian and Luxembourg Stock Exchanges the following announcement.

WILSON SONS LIMITED (Bovespa: WSON11) announces that, on December 17th, 2009, the Company's request for priority status has been approved by the Board of Directors' Council at the "FMM" ("Marine Merchant Fund"). The Company's request for funding in the order of USD 227.3 million, is intended for the building of two new shipyard facilities, one located in the city of Rio Grande (Rio Grande do Sul state) and the other in the city of Guarujá (São Paulo state), and for the construction of a 11,000 TDW multipurpose ship.

The use of proceeds is subject to analysis, approval and issuance of funds by an eligible financial agent with the FMM, and also subject to the Company's shipbuilding plan.