The preliminary purchase prices payable at closing for the shares in Laurin Shipping and Anglo-Atlantic Steamship Company were estimated at $10.4 mill and $55.3 mill, respectively, while the preliminary subscription price for the shares in the company was estimated at $2 per share and a total of 21,096,099 new shares in Team Tankers were issued to the former owner of Anglo-Atlantic Steamship Company, Thunder Bay. They represented 10.07% of the issued shares and votes of Team Tankers. These prices were subject to customary post-closing adjustments, the company explained. The new shares will be traded on the Oslo Stock Exchange and are tradeable on Oslo Børs, following registration of the new shares in the Norwegian Central Securities Depository. A separate announcement will be made when the registration of the shares is completed, Team Tanker concluded in its statement. In another move, Team Tankers’ CEO Hans Feringa has resigned from the board of NORDEN, as the purchase means that Team Tankers becomes a potential competitor to NORDEN. NORDEN’s chairman, Klaus Nyborg, explained: “To avoid any conflicts of interest, Hans Feringa has decided to resign from the board at NORDEN. We thank Hans for his valuable contribution to the board work at NORDEN during the past year.”
Team Tankers has announced the completion of its purchases of Laurin Shipping and Anglo-Atlantic Steamship. The two ships will be delivered to our team on June 1st for a total cost of $120,000. A total of 21,096,099 new shares have been issued by Team Tankers, with a preliminary subscription price of $2 per share.