Havila Shipping has entered into an agreement for the sale of its 1996-built platform supply vessel Havila Fortress as part of its debt conversion scheme.
Following the sale it is expected that lenders and Havila Holding will exercise warrants through debt conversions into new shares according to the company’s debt conversion scheme decided in January 2017. The company’s number of shares will increase by approximately 1.674m to approximately 23.778m shares following the sale.
Havila Shipping completed a restructuring at the end of February 2017, which is intented to give Havila breathing room financially through to 2020.