VLCCF - Closing of transaction
(Thomson Reuters ONE) -
Knightsbridge Shipping Limited ("Knightsbridge" or "the Company") (Nasdaq:
VLCCF) is pleased to announce that the second and final stage of its previously
announced vessel acquisition transaction with Frontline 2012 Ltd. has closed.
Knightsbridge has issued 31 million shares to Frontline 2012 Ltd. in exchange
for 12 Cape size bulk carrier newbuildings. Following this transaction,
Knightsbridge will have 111.1 million common shares outstanding.
The Board of Directors
Knightsbridge Tankers Limited
Hamilton, Bermuda
March 16, 2015
Questions should be directed to:
Contact:
Ola Lorentzon: Chairman, Knightsbridge Tankers Limited
+ 46 703 998886
Inger M. Klemp: Chief Financial Officer, Knightsbridge Tankers Limited
+47 23 11 40 76
FORWARD LOOKING STATEMENTS
Matters discussed in this report may constitute forward-looking statements. The
Private Securities Litigation Reform Act of 1995 provides safe harbor
protections for forward-looking statements, which include statements concerning
plans, objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than statements of
historical facts.
Knightsbridge Tankers Limited and its subsidiaries, or the Company, desires to
take advantage of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. This report and any other written
or oral statements made by us or on our behalf may include forward-looking
statements, which reflect our current views with respect to future events and
financial performance. The words "believe," "anticipate," "intend," "estimate,"
"forecast," "project," "plan," "potential," "will," "may," "should," "expect"
and similar expressions identify forward-looking statements.
The forward-looking statements in this report are based upon various
assumptions, including, without limitation, management's examination of
historical operating trends, data contained in our records and data available
from third parties. Although we believe that these assumptions were reasonable
when made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond our control, we cannot assure you that we will achieve or accomplish
these expectations, beliefs or projections. We undertake no obligation to update
any forward-looking statements, whether as a result of new information, future
events or otherwise.
In addition to these important factors and matters discussed elsewhere herein
and in the documents incorporated by reference herein, important factors that,
in our view, could cause actual results to differ materially from those
discussed in the forward-looking statements include the strength of world
economies, fluctuations in currencies and interest rates, general market
conditions, including fluctuations in charter hire rates and vessel values,
changes in demand in the dry bulk market, changes in the Company's operating
expenses, including bunker prices, drydocking and insurance costs, the market
for the Company's vessels, availability of financing and refinancing, changes in
governmental rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general domestic and
international political conditions, potential disruption of shipping routes due
to accidents, political events or acts by terrorists, and other important
factors described from time to time in the reports filed by the Company with the
Securities and Exchange Commission, or the Commission.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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: Knightsbridge Shipping Limited via GlobeNewswire
[HUG#1903853]
Unternehmensinformation / Kurzprofil:
Datum: 16.03.2015 - 20:01 Uhr
Sprache: Deutsch
News-ID 378885
Anzahl Zeichen: 4871
contact information:
Town:
Hamilton
Kategorie:
Business News
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"VLCCF - Closing of transaction"
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