Umiddelbart positivt, men jeg det er komplicret og jeg har først tid at nærlæse det i aften. Nogen med forstand på denne konstruktion eller rederiet i Indonesien som vil give kommentarer ?
VH Gjern
Camillo Eitzen & CO ASA ("CECO") has received a non-binding indication of interest to submit a voluntary exchange offer ("Indicative Offer") for all outstanding shares in CECO from the Indonesian group PT Berlian Laju Tanker Tbk ("BLT"). Please see the joint press release issued by CECO and BLT today.
BLT has presented to CECO the following key terms in the Indicative Offer:
Offer price/MEB exchangeable to BLT shares
Shareholders in CECO will be offered mandatory exchangeable bonds ("MEB") equivalent to NOK 25 per CECO share, based on BLT share price at the end of the offer period, which at any event shall not exceed 49.13 BLT shares per CECO share. BLT has informed that the MEB will, subject to certain conditions, be exchanged for ordinary shares in BLT. The conversion is expected to take place following a general meeting in BLT, scheduled for July 2010. Following the completion of the Indicative Offer, BLT has informed that they will seek a secondary listing of the company's shares on Oslo Børs, securing increased visibility and liquidity to CECO's shareholders.
CECO is in the process of evaluating the nature and features of the MEB and whether the MEB is eligible for listing on Oslo Børs.
Conditions to the Indicative Offer
BLT has informed that the Indicative Offer will be subject to inter alia the following conditions:
? Satisfactory due diligence investigation of CECO and subsidiaries
? Successful private placement in BLT of minimum USD 200 million in new equity BLT
? intends,through CECO, to participate in the announced capital raising in ECHEM with CECO's
pro rata share
? Satisfactory agreements with lenders in CECO and ECHEM
? Acceptance by a minimum of 95 % of CECO shareholders
? Approval by the shareholders of BLT
? In principle support from shareholding companies controlled by Mr. Axel C. Eitzen, and commitment
to grant BLT exclusivity until completion of the Offer, to be followed in due course by an irrevocable
acceptance undertaki ng in a form and substance acceptable to BLT
Timeline
BLT has informed that they expect to be able to launch the Indicative Offer in mid-November 2009 and with an ambition to close the Indicative Offer within the end of November.
Exclusivity
CECO and its main shareholders (Eitzen Holding AS, Eitzen Invest AS, Ollimac AS and Camillo Trading AS) are positive to the Indicative Offer and have therefore agreed to an exclusivity undertaking with BLT until completion of the Indicative Offer. The exclusivity undertaking may, however, subject to certain conditions expire prior to completion of the Indicative Offer.
Due diligence
BLT has started its due diligence investigation of CECO.
Underwriting
The main stakeholders in BLT and CECO are committed to support the transaction and intend to underwrite about 50 % of the contemplated private placement in BLT.
VH Gjern
Camillo Eitzen & CO ASA ("CECO") has received a non-binding indication of interest to submit a voluntary exchange offer ("Indicative Offer") for all outstanding shares in CECO from the Indonesian group PT Berlian Laju Tanker Tbk ("BLT"). Please see the joint press release issued by CECO and BLT today.
BLT has presented to CECO the following key terms in the Indicative Offer:
Offer price/MEB exchangeable to BLT shares
Shareholders in CECO will be offered mandatory exchangeable bonds ("MEB") equivalent to NOK 25 per CECO share, based on BLT share price at the end of the offer period, which at any event shall not exceed 49.13 BLT shares per CECO share. BLT has informed that the MEB will, subject to certain conditions, be exchanged for ordinary shares in BLT. The conversion is expected to take place following a general meeting in BLT, scheduled for July 2010. Following the completion of the Indicative Offer, BLT has informed that they will seek a secondary listing of the company's shares on Oslo Børs, securing increased visibility and liquidity to CECO's shareholders.
CECO is in the process of evaluating the nature and features of the MEB and whether the MEB is eligible for listing on Oslo Børs.
Conditions to the Indicative Offer
BLT has informed that the Indicative Offer will be subject to inter alia the following conditions:
? Satisfactory due diligence investigation of CECO and subsidiaries
? Successful private placement in BLT of minimum USD 200 million in new equity BLT
? intends,through CECO, to participate in the announced capital raising in ECHEM with CECO's
pro rata share
? Satisfactory agreements with lenders in CECO and ECHEM
? Acceptance by a minimum of 95 % of CECO shareholders
? Approval by the shareholders of BLT
? In principle support from shareholding companies controlled by Mr. Axel C. Eitzen, and commitment
to grant BLT exclusivity until completion of the Offer, to be followed in due course by an irrevocable
acceptance undertaki ng in a form and substance acceptable to BLT
Timeline
BLT has informed that they expect to be able to launch the Indicative Offer in mid-November 2009 and with an ambition to close the Indicative Offer within the end of November.
Exclusivity
CECO and its main shareholders (Eitzen Holding AS, Eitzen Invest AS, Ollimac AS and Camillo Trading AS) are positive to the Indicative Offer and have therefore agreed to an exclusivity undertaking with BLT until completion of the Indicative Offer. The exclusivity undertaking may, however, subject to certain conditions expire prior to completion of the Indicative Offer.
Due diligence
BLT has started its due diligence investigation of CECO.
Underwriting
The main stakeholders in BLT and CECO are committed to support the transaction and intend to underwrite about 50 % of the contemplated private placement in BLT.
5/10 2009 19:32 Gjern 0
20273 Egentlig er det jo trist for Norge, at de mister et stort rederi blot fordi rederiet opkøbte og investerede i ny flåde på det forkerte tidspunkt, hvor gæld pludselig er et kæmpeproblem.
Men jeg har nu haft lejlighed til at kigge nærmere på køberen, og det ser faktisk rigtig godt ud synes jeg, så jeg holder alle mine aktier for at se handlen blive realiseret og blive ny aktionær i det indonesiske rederi.
De bliver verdens største indenfor kemikalietankskibe og den nuværende hovedaktionær i Eitzen bliver ny storaktionær i Berlian Lau Tanker.
Det følgende er oversat med den for tiden i militæret populære Google-maskinoversætter:
PT Berlian Laju Tanker Tbk
BLT blev grundlagt i 1981 og er en førende verdensomspændende søs flydende fragttransportudbydere specialist
og en af de største kemikalietankskib operatører i verden. Den BLT flåde består af kemisk
tankskibe (62 fartøjer + 10 newbuilds), tankskibe (14 fartøjer), gastankskibe (13 fartøjer 4 newbuilds)
og 1 FPSO. I 2008 havde BLT samlede indtægter USDm 723, et driftsoverskud på USDm 182 og
aktiver i alt USDbn 2.4. BLT er noteret på den indonesiske og Singapore Stock Exchange (IDX-og
SGX Ticker: BLTA) og har i dag en markedsværdi på USDm 515. BLT's største aktionær er
PT Tunggaladhi Baskara, der kontrolleres af Surya-familien kontrollerer 59% af de stemmeberettigede aktier i
firma. Selskabet har hovedkvarter i Jakarta, Indonesien og har kontorer i hele verden.
Og så skal jeg nok lade være med at trætte Jer med tråde om dette nicheselskab i et stykke tid. :)
Men jeg har nu haft lejlighed til at kigge nærmere på køberen, og det ser faktisk rigtig godt ud synes jeg, så jeg holder alle mine aktier for at se handlen blive realiseret og blive ny aktionær i det indonesiske rederi.
De bliver verdens største indenfor kemikalietankskibe og den nuværende hovedaktionær i Eitzen bliver ny storaktionær i Berlian Lau Tanker.
Det følgende er oversat med den for tiden i militæret populære Google-maskinoversætter:
PT Berlian Laju Tanker Tbk
BLT blev grundlagt i 1981 og er en førende verdensomspændende søs flydende fragttransportudbydere specialist
og en af de største kemikalietankskib operatører i verden. Den BLT flåde består af kemisk
tankskibe (62 fartøjer + 10 newbuilds), tankskibe (14 fartøjer), gastankskibe (13 fartøjer 4 newbuilds)
og 1 FPSO. I 2008 havde BLT samlede indtægter USDm 723, et driftsoverskud på USDm 182 og
aktiver i alt USDbn 2.4. BLT er noteret på den indonesiske og Singapore Stock Exchange (IDX-og
SGX Ticker: BLTA) og har i dag en markedsværdi på USDm 515. BLT's største aktionær er
PT Tunggaladhi Baskara, der kontrolleres af Surya-familien kontrollerer 59% af de stemmeberettigede aktier i
firma. Selskabet har hovedkvarter i Jakarta, Indonesien og har kontorer i hele verden.
Og så skal jeg nok lade være med at trætte Jer med tråde om dette nicheselskab i et stykke tid. :)
