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Ocean Carrier Review

Pacific Northwest Ports

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2014 Media Kit
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NOCC: Board announcement regarding voluntary offer

By: | at 02:14 PM | Channel(s): Transport Intermediaries  

Reference is made to the announcement by Car Carriers Investment AS (the “Offeror”), a company jointly owned by Klaveness Invest AS, a wholly owned subsidiary of Klaveness Marine Holding AS and Nautilus H Limited, a wholly owned subsidiary of J.P Morgan Global Maritime Investment Fund, regarding the voluntary offer (the “Offer”) to acquire all the outstanding shares in Norwegian Car Carriers ASA (“NOCC” or the “Company”) at a price per share of NOK 2.17 (the “Offer Price”).

Prior to announcement of the Offer, the Company and the Offeror entered into a process agreement whereby the Offeror was given the opportunity to conduct a due diligence review on the Company.

Although the board of directors of the Company (the “Board”) is positive to an offer being made, the Board was at the price offered not willing to recommend the Offer prior to launch. None of the board members have entered into pre-acceptance agreements for the Offer.

The Board will closely review the offer document as soon as this has been published and prepare and publish a statement on the Offer in accordance with the deadlines set out in the Norwegian Securities Trading Act section 6-16. The Board has engaged ABG Sundal Collier Norge ASA as its financial advisor in connection with the Offer.

Carl Petter Finne (Chairman of the Board) and Kristine Klaveness (Board Member) will not be involved in the assessment of the Offer by the Board as they are considered to be closely associated with the Offeror.

For further information, please contact:

Jørgen G. Heje

Mobile phone: (+47) 90 19 53 17

About NOCC:

Norwegian Car Carriers ASA is a shipping company listed on the Oslo Stock Exchange with the ticker NOCC. The Company controls a fleet of 12 vessels for the transportation of cars and other rolling cargo.

This information is subject to the disclosure requirements according to section 5-12 of the Norwegian Securities Trading Act.