Clipper Group performed a USD 4.8 million capital increase, money that came from converting debt, while Clipper Bulk performed the same maneuver, increasing its capital by USD 1.7 million. Additionally, Hans Levy stepped down from the board. He was replaced by attorney Peter Appel. These developments were announced through two notices from the Danish corporate register on Wednesday, effective from December 28th.
"We're very pleased to have Peter Appel join our board," says Frank G. Jensen, Chairman as well as Partner and CEO of Clipper Group. "Peter comes with very valuable experience from our business and will be a major asset for our board."