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Exmar: Proposal capital increase |
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Saturday, 17 October 2009 |
 The Board of Directors of EXMAR has decided to propose to the shareholders to proceed with a capital increase of EUR 100 million. Saverex NV, the reference shareholder of EXMAR, will participate in the capital increase with an amount of EUR 50 million.
Sofina SA will also participate in the transaction in accordance with
its current shareholding in the company (approx. 1.3%). Sofina SA has
confirmed a further support to the transaction in the amount of EUR 5
million.
A syndicate of banks has been appointed to underwrite the remaining EUR 43.7 million.
The Board of Directors will convene an Extraordinary General Meeting of
the shareholders of the company on 13th November 2009. All existing
shareholders will have the opportunity to participate in the
transaction through the exercise of their preferential rights.
The capital increase is intended to strengthen the balance sheet of the
Company and to support the further growth ambitions of the Group. The
modalities of the transaction will be included in a prospectus that
will be made available in due time.
EXMAR and Excelerate Energy have come to an agreement whereby the LNGRV
EXQUISITE to be delivered on 30th October 2009 becomes wholly owned by
Excelerate Energy. EXMAR will remain responsible for the management and
operations of the vessel.
Financing of EXMAR’s 50% in the LNGRV EXPEDIENT is secured with a
syndicate of relationship banks. The delivery of the ship is scheduled
for 30th November 2009.
Financing of EXMAR’s 50% in LNGRV to be named EXEMPLAR, due for delivery in September 2010, is in progress.
Source: Exmar
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