Oslo, 15 December 2016: In today's bondholder meeting
in WBULK01 PRO, the bondholders approved certain
changes in the bond loan requested by Western Bulk
Chartering AS. Please see the attached document.
In today's shareholder meeting in Western Bulk
Chartering AS, the shareholders approved to authorize
the board of directors in Western Bulk Chartering AS
to issue up to 4 million new shares in order to raise
the NOK equivalent of USD 15 million in new equity. In
addition, the shareholders approved Mr Tord Meling as
new director of the board.
The USD 15 million equity issue will be directed to
existing shareholders and will be completed in Q1-17.
The two largest shareholders, Kistefos AS and Ojada
AS, have provided a guarantee for the full amount,
with USD 13.8 million and USD 1.2 million respectively.
For more information, please contact:
Jens Ismar, Chief Executive Officer
Tel: +47 9009 0897
E-mail: jens.ismar@westernbulk.com
About Western Bulk Chartering:
Western Bulk Chartering AS is a major dry bulk
shipping operator. The company is privately owned by a
group of about 250 shareholders. See
www.westernbulk.com for more information.
Western Bulk Chartering AS has an outstanding bond
loan trading on Nordic ABM under the ticker
symbol "WBULK01 PRO".
DISCLAIMERS
This press release contains forward-looking
statements. Forward-looking statements are statements
that are not historical facts and may be identified by
words such
as "believe," "expect," "anticipate," "intends," "estim
ate," "will," "may," "continue," "should" and similar
expressions. The forward-looking statements in this
release are based upon various assumptions, many of
which are based, in turn, upon further assumptions.
Although Western Bulk Chartering believes that these
assumptions were reasonable when made, these
assumptions are inherently subject to significant
known and unknown risks, uncertainties, contingencies
and other important factors which are difficult or
impossible to predict and are beyond its control.
Such risks, uncertainties, contingencies and other
important factors could cause actual events to differ
materially from the expectations expressed or implied
in this release by such forward-looking statements.
The information, opinions and forward-looking
statements contained in this release speak only as at
its date, and are subject to change without notice
Western Bulk Chartering disclaims any obligation to
update and revise any forward-looking statements,
whether as a result of new information, future events
or otherwise.