Fairstar Heavy Transport re-opens and continues Annual General Meeting
(Thomson Reuters ONE) -
Frits van Riet, Chairman of the Supervisory Board, commented: "Fairstar
reconvened the AGM with the intention of providing our Shareholders with the
proper public forum to address our Company's business. In spite of having made
it perfectly clear to Dockwise/White Marlin early last week that their
participation was welcome and all of their rights and voting powers would be
recognized, they attempted to stop the meeting by going to Court in the
Netherlands. When they came to the realization that they would not succeed in
frustrating our commitment to proper corporate governance, they withdrew their
case and attended the AGM this morning. Unfortunately, in spite of our desire to
enter into a constructive dialog, Dockwise/White Marlin decided to use the
occasion to vote against all of the resolutions on the Agenda with one exception
(the appointment of KPMG as the auditors of the Company). While this is not a
surprise, it continues to raise our concerns that the opportunistic and hostile
approach by Dockwise/White Marlin must be regarded with concern.
A significant minority of our shareholders has expressed quite clearly that an
offering price of NOK 9.3 is far below the true value of their Company. The
negative and hostile attitude of Dockwise/White Marlin towards Fairstar, our
Joint Boards, and our employees at the AGM today came as quite a shock. It seems
difficult to imagine why they are buying Fairstar after witnessing their
behavior at our AGM. Minority Shareholders, represented at the AGM today
expressed their concern that the chaotic situation created by Dockwise/White
Marlin is not consistent with the expectations of a constructive dialog and
exposes Fairstar to dangers and risks that may affect the interests of the
minorities. On behalf of the Joint Boards of Fairstar, we would like to make it
clear that we are mindful of our duties to protect the interests of all
Stakeholders in Fairstar.
Please find the actual outcome of the voting attached to this release.
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).
Fairstar AGM 2012 - overview voting results AGM 27 April:
http://hugin.info/143837/R/1611897/512847.pdf
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(i) the releases contained herein are protected by copyright and
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originality of the information contained therein.
Source: Fairstar Heavy Transport NV via Thomson Reuters ONE
[HUG#1611897]
Unternehmensinformation / Kurzprofil:
Datum: 14.05.2012 - 15:35 Uhr
Sprache: Deutsch
News-ID 146075
Anzahl Zeichen: 4036
contact information:
Town:
ROTTERDAM
Kategorie:
Business News
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"Fairstar Heavy Transport re-opens and continues Annual General Meeting"
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