Havila reduces share capital by 96 percent

Havila performs an announced impairment of its shares, the carrier writes in a corporate statement. The net capital thus declines from more than USD 44.4 million down to USD 1.77 million.

Havila Shipping continues to fight for survival and is now making a 96 percent impairment on its share capital. From being worth USD 1.47, the Havila share value will now only be 5-6 cents per share, the company writes in a corporate statement.

This means that the combined share capital has been impaired from USD 44,413,920 down to USD 1,776,412. This comes after the carrier on January 26th announced the impairment in a corporate statement at a general assembly. In the meantime, the creditors had the opportunity to make objections, but this has apparently not stopped the carrier from reducing the share capital.

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