Natural gas shipping company Golar LNG ltd (OSE: GOL, NASDAQ: GLNG) said in a release on Friday that it no longer sees it prudent to continue to maintain dual listing. It therefore intends to call for an EGM to ask for shareholder support for delisting from Oslo. Two thirds majority is needed to get this approval. World Ship Holding (WSH), which owns 45.8% of the shares will vote in favour of the motion. It is indirectly controlled by John Fredriksen.
According to Golar, less than 18% of the shares excluding WSH’s stake are currently held in Norwegian VPS system. Should the de-listing occur, Golar says it will try to compensate any direct transaction costs that Norwegian based shareholders will have in converting VPS share into shares tradable in the US. Golar is registered in Bermuda and based in the UK. It initially listed via the Oslo exchange and attained US listing some 18 months later.
No comments:
Post a Comment