Oslo, 18 January 2022 - MPC Container Ships ASA ("MPCC" or the "Company", and
together with its subsidiaries, the "Group") is pleased to announce the
following market and company update and measures taken to implement the
Company's distribution plan. The update includes the following:
· Completion of the balance sheet optimization in Q4 2021 leading to more than
30 vessels being unencumbered
· The container market started the year 2022 even stronger than it ended 2021
· Over the past weeks, MPCC has concluded seven additional multi-year charter
fixtures (at strong rates and for forward positions) and one additional vessel
sale
· As of 1 January 2022 contracted revenues increased to ~USD 1.2 billion and
projected secured EBITDA is more than USD 850 million
· An amount of USD 150 - 160 million in proceeds from vessel sales is
available for event-driven distributions already in Q1 2022
· An extraordinary general meeting will be held on 28 January 2022, where
authorisations for both dividend distributions and share buy-backs are proposed
to be granted to the board, to commence event-driven and recurring distributions
For further details on the market and operational update on the Company, please
refer to the attached presentation. An investor call will be hosted on Wednesday
19 January at 10:00 CET. Please see below for call-in details.
The above information is subject to the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.
Investor call and webcast:
The Company will host a webcast for the investor call commencing on Wednesday 19
January 2022 at 10:00 hours CET. The presentation will be made available on the
Company's webpage (https://www.mpc-container.com/investors-and-media/press
-releases/). There will be a Q&A session after the presentation.
The event is being streamed. It is recommended that you listen via your computer
speakers. Please note that for optimal viewing, it is recommended not to use
VPN, but instead to connect directly to the internet. Please disable pop-up
blockers in order to view the content in its entirety.
The live webcast can be accessed through the following link:
https://edge.media-server.com/mmc/p/fibfi3gn
Alternatively, participants may dial in to the earnings call using the below
dial-in information:
Norwegian LocalCall Dial-In (Oslo): +47 23 96 02 64
US LocalCall Dial-In (New York): +1 (631) 510-7495
International/Toll Attendee Dial-In: +44 (0) 2071 928000
Conference ID: 3396473
Further information and contact:
For further information, please contact ir@mpc-container.com.
About MPC Container Ships ASA:
MPC Container Ships ASA (ticker code "MPCC") is a leading container tonnage
provider with a focus on the feeder segment below 5,000 TEU. Its main activity
is to own and operate a portfolio of container ships serving intra-regional
trade lanes on fixed-rate charters. The Company is registered and has its
business office in Oslo, Norway. For more information, please see our website:
www.mpc-container.com.
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Forward-looking statements:
This announcement includes forward-looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company's plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring efforts. These
statements are made based upon management's current plans, expectations,
assumptions and beliefs concerning future events impacting the Company and
therefore involve a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this news
release. Consequently, no forward-looking statement can be guaranteed. When
considering these forward-looking statements, you should keep in mind the risks
described from time to time in the Company's regulatory filings and periodical
reporting. The Company undertakes no obligation to update any forward-looking
statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for the Company to
predict all of these factors. Further, the Company cannot assess the impact of
each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward-looking statement.