REG - Ocean Wilsons Hldgs - Completion of sale of interest in Wilson Sons S.A.

Ocean Wilsons HoldingsAnnouncement

04/06/2025 14:15

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RNS Number : 4608L  Ocean Wilsons Holdings Ltd  04 June 2025

4 June 2025

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR
FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION

 

FOR IMMEDIATE RELEASE

 

Ocean Wilsons Holdings Limited

 

("Ocean Wilsons" or the "Company")

 

Completion of sale of interest in Wilson Sons S.A. to SAS Shipping Agencies
Services Sàrl

 

Further to the Company's announcements on 21 October 2024, 20 March 2025 and
20 May 2025, Ocean Wilsons is pleased to announce the completion earlier today
of the sale by its wholly-owned subsidiary, OW Overseas (Investments) Limited
("OWOIL"), of its 56% interest in Wilson Sons S.A. to SAS Shipping Agencies
Services Sàrl, a wholly-owned subsidiary of MSC Mediterranean Shipping
Company S.A. (the "Transaction").

 

The gross cash consideration for the Transaction was approximately R$4.352
billion. Deductions of approximately R$808 million in aggregate have been made
from that amount in connection with the Brazilian withholding tax due in
respect of OWOIL's capital gain from the Transaction.  After those deductions
and estimated transaction costs, the net cash proceeds resulting from the
Transaction, which were received by OWOIL in US Dollars, amount to
approximately US$594 million.

 

In accordance with UKLR 7.3.3R(2), the Company confirms that there has been no
material change affecting any of the matters contained in the Company's
announcements of 21 October 2024 and 20 March 2025.

 

As previously announced, the Board of Ocean Wilsons confirms that it intends
shortly to return a portion of the net proceeds of the Transaction to
shareholders by way of a tender offer for up to 7,072,608 ordinary shares of
20 pence each in the capital of the Company, representing 20% of the issued
share capital of the Company (the "Tender Offer"). A further announcement,
setting out the terms, structure and pricing of the Tender Offer, will be made
in due course.

 

 

About Ocean Wilsons

 

Ocean Wilsons is a Bermuda investment holding company listed on both the
London Stock Exchange and the Bermuda Stock Exchange. Following completion of
the Transaction, Ocean Wilsons' active business comprises Ocean Wilsons
(Investments) Limited, an entity that holds an actively managed diversified
portfolio of international investments.

 

LEI: 213800U1K395G8PK4I21

 

FOR FURTHER INFORMATION PLEASE CONTACT

 

 

 Ocean Wilsons Holdings Limited                                 +1 (441) 295 1309
 Leslie Rans

 Peel Hunt LLP - Financial Adviser and Broker to Ocean Wilsons  +44 (0) 207 418 8900
 Ed Allsopp
 Charles Batten
 Tom Graham

 

 

IMPORTANT NOTICES

 

No statement in this announcement is intended as a profit forecast and no
statement in this announcement should be interpreted to mean that the future
earnings per share, profits, margins or cash flows of Ocean Wilsons following
the Transaction will necessarily match or be greater than the historical
published earnings per share, profits, margins or cash flows of Ocean Wilsons.

 

This announcement may include statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements may be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "plans", "projects", "anticipates", "expects",
"intends", "may", "will" or "should" or, in each case, their negative or other
variations or comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. Forward-looking statements may
and often do differ materially from actual results. Any forward-looking
statements reflect Ocean Wilsons' current view with respect to future events
and are subject to risks relating to future events and other risks,
uncertainties and assumptions relating to Ocean Wilsons' business, results of
operations, financial position, liquidity, prospects, growth and strategies.
Forward-looking statements speak only as of the date they are made.

 

You are advised to read this announcement in its entirety and the Company's
other disclosures (including, without limitation, its annual report in respect
of the year ended 31 December 2024) for a further discussion of the factors
that could affect the Group's future performance. In light of these risks,
uncertainties and assumptions, the events described in the forward-looking
statements in this announcement may not occur.

 

This announcement does not constitute and should not be construed as, an offer
to purchase or sell or issue securities, or otherwise constitute an
inducement, invitation, commitment, solicitation or recommendation to any
person to purchase, subscribe for, or otherwise acquire securities in Ocean
Wilsons, or constitute an inducement to enter into any investment activity in
any jurisdiction. Nothing contained in this announcement is intended to, nor
shall it, form the basis of, or be relied on in connection with, any contract
or commitment whatsoever and, in particular, must not be used in making any
investment decision.

 

The distribution of this announcement in or from certain jurisdictions may be
restricted or prohibited by the laws of any jurisdiction other than the UK.
Recipients of this announcement are required to inform themselves of, and
comply with, all restrictions or prohibitions in such other jurisdictions. Any
failure to comply with applicable requirements may constitute a violation of
the laws and/or regulations of such other jurisdictions.

 

Peel Hunt LLP ("Peel Hunt"), which is authorised and regulated in the United
Kingdom by the FCA, is acting exclusively as financial adviser and broker to
Ocean Wilsons and for no one else in connection with the matters referred to
in this announcement and will not be responsible to any person other than
Ocean Wilsons for providing the protections afforded to clients of Peel Hunt,
nor for providing advice in relation to the matters referred to herein.
Neither Peel Hunt nor any of its affiliates owes or accepts any duty,
liability or responsibility whatsoever (whether direct or indirect, whether in
contract, in tort, under statute or otherwise) to any person who is not a
client of Peel Hunt in connection with the matters referred to in this
announcement, or otherwise.

 

Save as required by the Market Abuse Regulation, the Disclosure Guidance and
Transparency Rules, the UK Listing Rules or by applicable law, each of Ocean
Wilsons, Peel Hunt and their respective affiliates and representatives
expressly disclaim any intention, obligation or undertaking to update, review
or revise any of the information or the conclusions contained herein,
including forward-looking or other statements contained in this announcement,
or to correct any inaccuracies which may become apparent whether as a result
of new information, future developments or otherwise.

 

 

ENDS

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