The terms of the transactions were negotiated and approved by a special committee of disinterested and independent directors. Both vessels are expected to be delivered to their new owners by the end of 1Q24.

The company expected to record during 1Q24 a net gain of approximately US$4.4 million from the sale of the M/V Magic Nova, excluding any transaction-related costs and a net gain of US$4.6 million from the sale of M/V Magic Horizon, excluding any transaction related costs.


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