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IMSK - Early redemption - Notice from Bondholders' Meeting

ID: 1011166

(Thomson Reuters ONE) -


On the 10th of March 2010 a Bondholders' meeting was held pursuant to summons of
25 of February 2010 regarding an early redemption of ISIN: NO 001 0294358,
IMSK02.

There were sufficient Bondholders present at the meeting to form a quorum. The
proposed resolution obtained 62.69% of the votes, which, according to the voting
requirements of the Loan Agreement, was not sufficient for adoption. The Loan
Agreement will remain unchanged.

Following this result, I.M. Skaugen SE offers the bondholders to sell their
holdings for the same price as the early redemption offer, at 101.00 % of par
value plus accrued interest, with validity until the 19th of March 2010.

I.M. Skaugen SE has engaged Fearnley Fonds ASA as financial advisor with respect
to the proposal. Bondholders may contact Thomas Berg-Nielsen at +47 22 93 63 51
or tbn(at)fearnleys.no for further information.

Please find attached the notice from Bondholders' Meeting.
I.M. Skaugen SE

If you have any questions, please contact:
Bente Flø, Chief Financial Officer, on telephone +47
23 12 03 30/+47 91 64 56 08 or by e-mail: bente.flo(at)skaugen.com
. This press release is also available on the
Internet at our website: http://www.skaugen.com .


Listed on the Oslo Stock Exchange under the ticker code IMSK,. I.M. Skaugen SE
(IMS) is a marine transportation service company engaged in the hassle-free
 transportation of petrochemical gases, chemicals, LPG and LNG, marine transfer
of crude oil and LNG, as well as design and construction of smaller, specialised
high quality vessels.

IMS is a fully-integrated shipping company that designs, builds, owns, mans and
manages its own ships. IMS customers are major international companies in the




oil and petrochemical industry, whom it serves worldwide from locations in
Bahrain, Freeport and Houston (USA), Oslo and Stavanger (Norway), Singapore,
Sunderland (UK) and Nanjing, Shanghai, Taizhou, Zhangjiagang and Wuhan (China).
We also operate recruitment and training programmes in St. Petersburg (Russia)
and Wuhan (China) for the crewing of vessels.

IMS employs approximately 1,800 people around the world and currently operates
about 37 vessels worldwide. The fleet comprises petrochemical gas, LPG and LNG
carriers, Aframax tankers and lightering support vessels, barges and tugs.

IMS has a comprehensive newbuilding programme in China, of which three 3,200cbm
LPG vessels are delivered and sold; three purpose-designed combination carriers
with LPG/Ethylene/VCM and Organic chemicals carrying capability; and up to ten
advanced 10,000-12,000cbm LNG/ LPG/Ethylene gas carriers, with delivery from
2009 onwards. IMS has invested and built up internal resources and
infrastructure in China to ensure innovative and flexible vessels at lower cost.


[HUG#1392517]





Notice from Bondholders' Meeting: http://hugin.info/179/R/1392517/350057.pdf





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Bereitgestellt von Benutzer: hugin
Datum: 10.03.2010 - 07:49 Uhr
Sprache: Deutsch
News-ID 1011166
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"IMSK - Early redemption - Notice from Bondholders' Meeting
"
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