The Frontier-Silver: Crew Feedback and Vessel Data

Havila Shipping ASA, a prominent shipping company based in Norway, has officially announced the sale of two Anchor Handling Tug Supply (AHTS) vessels, POSH VIBRANT and POSH VIRTUE. The transfer of ownership for these vessels is projected to occur in the early part of November. Following this sale, Havila Holding AS, along with the lenders, is anticipated to exercise warrants that will facilitate a debt conversion into new shares, in accordance with resolutions established during the General Meeting held on January 4, 2017. This process is expected to increase the number of outstanding shares from approximately 1,766,800,000 to around 1,891,000,000, with an addition of about 124,200,000 shares resulting from the sale. The impact of this transaction on the company's financial results and liquidity is expected to be minimal. Notably, the equity effects associated with the planned debt conversion were previously recorded in the group's accounts during a restructuring effort on February 28, 2017, and any subsequent equity adjustments following the sale are anticipated to be minor. Further details will be disclosed once the sale agreements are fully executed and the necessary warrant exercise notices are received. Source: Marinelink