Oslo: Øystein Stray Spetalen, one of Norway’s most successful investors, has ignored a deadline to change the shareholding of a tanker company he owns.
Three and a half months ago Spetalen and Saga Tankers were warned that it could be delisted from Oslo Børs as its shareholding structure did not meet the exchange’s required structure limits.
Saga Tankers received a notice from the Oslo Stock Exchange in mid-October that the company had to change its ownership structure within three months or else face being removed from the bourse.
The deadline has now passed and the ownership structure has not changed.
In an announcement made by Saga Tankers two weeks after the deadline expired, the company said it was “in a constructive dialogue with the Oslo Stock Exchange and the company is prepared to do what is required to meet the listing requirements”.
Spetalen holds 98.3% of the tanker firm.