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Belships provides an update on outcome of Kontrari-Kontrazi mandatory offer

Published by , Assistant Editor
Dry Bulk,

Reference is made to the mandatory offer (the Offer) to acquire all issued and outstanding shares in Belships ASA (Belships) made by Kontrari AS and Kontrazi AS (the Offerors), as set out in the offer document dated 14 March 2019. 

Further reference is made to the announcement on 12 April 2019 after the expiry of the acceptance period for the Offer on 12 April 2019 at 16:30 (CET). After the announcement was made, acceptances for an additional 460 207 were recorded, which had been received within the time of expiry of the Offer, but which had not been taken into account in the announcement. 


Consequently, the Offerors have received acceptances of the Offer for a total of 12 904 796 shares, corresponding to approximately 7.4% of the issued shares and votes in Belships. Together with the 120 454 198 shares already owned, the Offerors will following completion of the Offer own a total of 133 358 994 shares, corresponding to approximately 76.2% of the issued shares and voting rights in Belships. 


Settlement of the Offer will be made as soon as reasonably possible, and no later than 26 April 2019. Reference is made to the offer document for further details. 


The Offerors are related parties to Frode Teigen, who is a member of the Board of Directors of Belships ASA.

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