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    Fairstar completes share placement

    Company News // February 1, 2012

    Fairstar Heavy Transport has successfully completed a private placement towards Norwegian and international institutional investors of 8,100,000 new shares at a price of NKr 8.00 per share.

    The share issue represents approximately 10 per cent of the shares outstanding prior to the placement. Total gross proceeds from the private placement amounted to approximately NKr 65 million.

    The new shares to be issued in connection with the private placement will be issued in accordance with the board proxy established at the company's Annual General Meeting held on 20 April 2011.

    The total number of outstanding shares after the issue will be 89,172,779 shares, each with a nominal value of EUR 0.46.

    The private placement was managed by ABG Sundal Collier Norge ASA, Carnegie ASA and SEB Enskilda.

    Ingmar den Blanken, the company's treasurer, said: "Our three joint bookrunners did a fantastic job on our behalf. Support from current as well as new shareholders ensured the success of this deal in the midst of unpredictable global capital markets.

    "Our balance sheet is strong, our fleet has been awarded a series of valuable multi-voyage contracts and the Fairstar team is determined to reward our shareholders for their trust and support.

     

     

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