Capital reduction and share consolidation in Dockwise - effective date
DOCKF | Quote | Chart | News | PowerRating -- Breda, the Netherlands, 30 November 2009. Reference is made to the
decision made by the special general meeting of shareholders of
Dockwise Ltd. on 4 November 2009 to reduce the par value of the
company's common shares to USD 0.25 by way of a capital reduction and
to authorize the Board to give effect to a consolidation (or reverse
stock split) of common shares on a 20:1 basis.
Both the capital reduction and the share consolidation will become
effective on 2 December 2009. Consequently, trading in the company's
common shares from and including 2 December 2009 is made on the basis
of the 20:1 share consolidation. Following the capital reduction and
the share consolidation, the new par value of each common share will
be USD 5. The new lot size is expected to be 50 common shares.
If, as a result of this 20:1 share consolidation, a shareholder would
otherwise be entitled to a fraction of a common share in respect of
the total number of common shares held by such shareholder prior to
the consolidation, no such fractional common shares will be awarded
and the aggregate number of common shares that such shareholder is
entitled to will be rounded down to the next closest whole number of
common shares, with compensation in cash. Except for any change
resulting from the rounding described above, the change in the number
of common shares outstanding that would result from the share
consolidation will not change the stated capital attributable to the
common shares.
Further information:
Fons van Lith +31 76 5484116/+31 651 314 952
Fons.van.lith@dockwise.com
About Dockwise Ltd / Dockwise Group
Dockwise Ltd., a Bermuda incorporated, has a workforce of more than
1200 people both offshore and onshore. The company is the leading
marine contractor providing total transport services to the offshore,
onshore and yachting industries as well as installation services of
extremely heavy offshore platforms. The Group is headquartered in
Breda, The Netherlands. The Group's main commercial offices are
located in The Netherlands, the United States, China, Korea,
Australia, Brasil, Moscow, Singapore and Nigeria. The Dockwise Yacht
Transport business unit is headquartered in Fort Lauderdale and has
an office in Italy. The Dockwise Shipping network is supported by
agents in Japan, Singapore, Spain, Norway, Argentina and Italy.
To support all of its services to customers, the group also has three
additional engineering centers in Houston, Breda and Shenzhen,
manufactures specific motion reduction equipment such as LMU (Leg
Mating Units) and DMU (Deck Mating Units) and owns a fleet of 20
purpose built semi-submersible vessels.
Dockwise shares are listed on the Oslo Stock Exchange under ticker
DOCK.
For further information: www.dockwise.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
SOURCE: Dockwise Ltd
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