Latest news from Heavy Lift & Project Forwarding International Magazine

Dockwise ups ownership in Fairstar to 28 percent

May 1 - Further to our report from April 27, according to reports online, Dockwise Ltd - through its subsidiary Dockwise White Marlin - last week completed the acquisition of 19 percent of the shares in Fairstar Heavy Transport nv and has now waived the s

Reuters reports that Dockwise still has one conditional purchase agreement for just over 26 percent of the shares inFairstar, adding that "completion of this agreement remains conditional on the approval of resolutions for the financing of the purchase of shares in Fairstar through an offering and issuance of new shares in Dockwise, primarily by the way of a rights issue, which approval is to be obtained at the Dockwise's Annual General Meeting which will be held on May 9, 2012."

As we reported last week, following its suspended AGM, Fairstar expressed certain allegations and suggested that Dockwise's offer does not comply with the relevant rules and regulations and indicated it would commence an investigation into "undisclosed Dockwise shareholder agreements".

In response, Dockwise said it had made all required disclosures, acted in compliance with all relevant rules and regulations and will continue to do so.

www.fairstar.com

www.dockwise.com

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