Increase of the capital in sight for of Friend International Shipping



The board of directors of the company of Friend International Shipping (DIS) has deliberated today to manage the start of a public offer of rights, in Luxemburg and Italy, destined to the shareholders of the society and finalized to an increase of capital until a maximum of the equivalent in dollars of 35 million euros through the emission of new actions lacking in nominal value.

The company has explained that the attempt is "to strengthen the patrimonial structure of the society and to pick the opportunities of resumption of the market" in which work DIS, that is that of the tankers, field - it has remembered the company - than in 2016 has crossed a phase of difficulty characterized from hires down particularly in the second half of the year. DIS has specified that .

The new actions will be offered to the titular shareholders of right of first refusals for the subscription of the new actions of the society with contextual allocation of warrant free, exercisable within a period five-year-old, that they confer to the holders the right to the subscription of new actions of worthless nominal compendium with the same rights of the outstanding stocks to the date of issue. The new actions not sign during the period of offer of the rights will be offered by the next society in private ones placement. The warrant, if debitamente exercised in agreement with the terms and the conditions of the warrant that they will be established by the Board of Directors in proximity of the start of the offer, they will carry to a capital increase, within the limits of the vital authorized person, until to a maximum pairs to the equivalent in dollars of 60 million euros (included the overcharge), through the emission of actions of compendium lacking in nominal value and the having regular enjoyment and same characteristics of the common stocks of the society in circulation to the date of issue. The new actions, the actions of compendium and the warrant will be exchanged on the segment Star of the Share Computerized Market. The completion of the offer is previewed within the first half of this year.

Moreover today the extraordinary assembly of the DIS shareholders has approved of modifications to the charter of the society proposed from the board of directors to the aim to return it in compliance with the new Luxemburgian law on the societies, to fix the vital authorized person of the society, being included vital the issued one, to a total amount pairs to 100 million dollars, subdivided in a worthless nominal billion of actions and to renew, for a period five-year-old, conferring the delegation to the board of directors to increase the capital in or a more tranche within the such limits of vital authorized person, with also the power of the Board of Directors to limit or to eliminate, partially or totally, the right of first refusals of the existing shareholders.