Braemar Shipping Reduces Stake in Norwegian Marine Services Provider AqualisBraemar.
MANews-(C)2009-2021
UK-based shipbroking, financial advisory, and logistics services provider Braemar Shipping Services plc (LSE: BMS) has sold 9.6m existing shares in Norway-based marine, engineering and adjusting consultancy services provider AqualisBraemar LOC ASA held by Braemar, the company is pleased to announce that 9.6m AQB Shares were sold at a price of NOK 7.50 per AQB share, the company said.
The net proceeds of the Sale, totalling GBP 6m will be used to reduce the group's net bank debt which was GBP 19.3m at 31 August 2020.
The carrying value of the AQB Shares sold was GBP 3.2m equating to a profit on disposal of GBP 2.8m.
Subsequent to the Sale, Braemar has an interest in 9,640,261 AQB shares representing approximately 10.4% of the total issued share capital of AQB. Braemar...
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