Havila Shipping ASA has entered into agreements for sale of the PSV vessels Havila Faith and Havila Favour. The vessels are expected to be delivered to the new owner within a short time.

Havila Shipping ASA: Sale of none core vessels
Caption: Offshore Tug/Supply Ship Havila Favour - Image courtesy of Bergens Sjøfartsmuseum

Following the sale, it is expected that the lenders and Havila Holding AS will exercise warrants through debt conversions into new shares corresponding to agreements decided by the General Meeting on 4(th) January 2017.  It is expected that the number of shares will increase by approximately 3,190,000 up to approximately 22,098,000 shares following the sale.

Caption: Offshore Tug/Supply Ship Havila Faith - Image courtesy of zodiac14

The sale will have a low impact on result and liquidity.  The equity effect of the planned debt conversion was booked in the group accounts through the restructuring on the 28th February 2017 and the sale will cause minor equity adjustments.

A detailed message will be sent as soon as the sale processes are finalized and warrant exercise notices have been received.

Source: Havila Shipping