Brief: Hafnia Proposes To Combine With Ardmore Shipping In All-Stock

Hafnia

06/07/2020 14:36

July 6 (Reuters) - Hafnia Ltd  HAFNIA.OL :
    * HAFNIA LIMITED PROPOSES TO COMBINE WITH ARDMORE SHIPPING
IN AN
ALL-STOCK
    * WHILE NO DISCUSSIONS BETWEEN HAFNIA AND ARDMORE ARE
ONGOING,
THIS INFORMATION IS SHARED FOR MARKET TRANSPARENCY AND HAFNIA
REMAINS OPEN TO CONSOLIDATION DISCUSSIONS IN FUTURE.
    * ANNOUNCES THAT IT HAS MADE A PROPOSAL TO COMBINE WITH
ARDMORE
SHIPPING CORP IN AN ALL-STOCK TRANSACTION
    * ARDMORE INFORMED US THAT ARDMORE BOARD HAS REJECTED OUR
PROPOSAL
    * THOUGH ARDMORE INDICATED IN ITS RESPONSE THAT ARDMORE
BOARD HAS
CONDUCTED A THOROUGH REVIEW, TO DATE THERE HAVE BEEN NO
SUBSTANTIVE FOLLOW-UP DISCUSSIONS OR NEGOTIATIONS BETWEEN
ARDMORE AND HAFNIA OR OUR RESPECTIVE ADVISORS.
    * WE ARE DISAPPOINTED BY ARDMORE'S RESPONSE AND CONTINUE TO
BELIEVE THAT OUR PROPOSAL IS IN BEST INTERESTS OF ARDMORE
SHAREHOLDERS

Source text for Eikon:  ID:nObir59nja 
Further company coverage:  ASC.N 

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