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Saga Tankers risks delisting

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.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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