Havila Shipping ASA has entered into an agreement for sale of the PSV vessel Havila Fortress. The vessel is expected to be delivered to new owner within short time.

Havila Shipping ASA announces sale of PSV Havila Fortress
Caption: Offshore Tug/Supply Ship Havila Fortress - Image courtesy of Richard Wisse/shipspotting

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 number of shares will increase by approximately 1,674,000 up to approximately 23,778,000 shares following the sale.

The sale will have 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 28(th) February 2017 and the sale will cause minor equity adjustments.

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

Source: Havila Shipping