Fairstar Heavy Transport update regarding the conditional proposed Dockwise offer
(Thomson Reuters ONE) -
Fairstar Heavy Transport N.V. (FAIR) has informed Dockwise today that the
conditional proposed Dockwise offer for Fairstar shares does not conform with
the rules governing take-overs of publically listed companies in The Netherlands
and Norway.
Fairstar has also advised that the proposed Dockwise offer may well cause
certain "change in control clauses" to be triggered. In the event these change
in control clauses are in fact called by Fairstar's banks and commercial
partners, the financing facilities now in place as well as the commercial
agreements awarded to Fairstar may no longer be binding.
Fairstar has informed Dockwise that Fairstar has reserved its rights against
Dockwise and will hold Dockwise liable for any losses or damages that may occur
as a result of the Dockwise conditional offer causing these clauses to be
triggered.
For further information please contact:
Philip Adkins, CEO (philip.adkins(at)fairstar.com)
Ingmar den Blanken, Treasurer (ingmar.den.blanken(at)fairstar.com)
Web: www.fairstar.com
Tel: +31 (0)10-403 5333
*****
Profile Fairstar Heavy Transport:
Fairstar Heavy Transport N.V. is a leading provider of marine heavy transport
solutions, specializing in high-value cargoes for the offshore and onshore
energy and construction industries. Fairstar owns and operates two of the most
modern semi-submersible heavy transport ships in the global fleet, FJORD and
FJELL. The 50,000DWT, open-stern semi-submersible vessels FORTE and FINESSE are
currently under construction with Guangzhou Shipbuilding International in China
and will be owned and operated by Fairstar when they are delivered in May and
October of 2012 respectively. Fairstar is based in Rotterdam and quoted on the
Oslo Stock Exchange (ticker: FAIR).
Press release (PDF):
http://hugin.info/143837/R/1606976/509598.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Fairstar Heavy Transport NV via Thomson Reuters ONE
[HUG#1606976]
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Datum: 27.04.2012 - 10:17 Uhr
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News-ID 1108166
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