April 7 - Lloyd Fonds' plans to inject 11 single shipowning entities through a non-cash equity offer in which limited partners would receive shares in the company have initially been unsuccessful.

Over the last four weeks, around 18,000 limited partners of 11 ship entities voted on the offer to transfer the ships from KG companies to Lloyd Fonds in return for the issue of shares.

Although over 50 percent of the limited partners voted in favour of accepting the model, the necessary 75 percent majority required to approve the proposal was reached by only one of the 11 entities. 

In view of this, Lloyd Fonds will initially not be holding the extraordinary shareholder meeting planned for April 16, 2015 at which a resolution was to be passed approving the combined cash/non-cash issue of new share capital.

However, said Lloyd Fonds, the equities market was impressed by the plans with its stock achieving substantial gains on brisk trading activity, and investors are showing a strong interest in investments into alternative real assets. Therefore, Lloyd Fonds will be continuing to pursue its strategic goal of transforming into a listed shipping company.

Lloyd Fonds will be working on enhancing the listing shipping company model up until the annual general meeting in July as a basis for submitting a revised offer to some of the entities that received the first offer, as well as a number of other entities. Lloyd Fonds will initially concentrate on container ships.