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Dockwise launches offer for all issued and outstanding shares in Fairstar

May 15 - Dockwise Ltd has resolved to launch, through its wholly-owned subsidiary Dockwise White Marlin bv, an unconditional mandatory offer for all the issued and outstanding shares of Fairstar Heavy Transport nv at a price of NOK9.30 per Fairstar share.

The mandatory offer period runs from May 15 to 17:30 (CET) June 12, 2012, and may be extended by up to two weeks.

The offer price is NOK9.30 per Fairstar share, which represents a premium of more than 22 percent compared to the closing price of the Fairstar shares on Oslo Børs on April 20, 2012, which was the last trading day prior to the announcement of Dockwise's agreements to acquire approximately 54 percent of the shares in Fairstar. The offer price has been described by Fairstar as undervaluing the company.

Pareto Project Finance AS and Pareto Securities AS act as financial advisors to Dockwise in relation to the mandatory offer, and Pareto Securities AS also acts as the receiving agent in relation thereto.

www.dockwise.com

www.fairstar.com 

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