The Board of Directors of Novorossiysk Shipping Company (NovoShip OJSC, of the SovComFlot Group) at a meeting on March 1st has decided to buy out at least 41.266.042 of equity registered shares, 80 ruble a share. That is 10 % of the number of outstanding stocks of NovoShip Company. The stocks will be purchased from May17 through May 13 2010 as part of the optimization of the authorized capital of NovoShip OJSC.
Novorossiysk Shipping Company is the largest shipping company in the Russian Black Sea. The NovoShip operates its fleet of 55 modern vessels, of total 4.42m DWT. The average age of the tanker fleet is 6.3 years. The Novoship’s portfolio of orders is 5 vessels contracts of total 480.000 DWT. The ships to be delivered by late 2010. As of the end of 2009, 68.32% of NovoShip’s authorized capital stock are owned by SovComFlot (75.01% of voting shares), 16,08% owned by Intrigue Shipping Inc. (17.65% of voting shares), 5,06% - NovoShipInvest (5.56% of voting shares). The authorized capital of NovoShip consists of 412.660.422 shares (36.819.922 of preferred stock, 375.840.500 of common stock).
Novorossiysk Shipping Company is the largest shipping company in the Russian Black Sea. The NovoShip operates its fleet of 55 modern vessels, of total 4.42m DWT. The average age of the tanker fleet is 6.3 years. The Novoship’s portfolio of orders is 5 vessels contracts of total 480.000 DWT. The ships to be delivered by late 2010. As of the end of 2009, 68.32% of NovoShip’s authorized capital stock are owned by SovComFlot (75.01% of voting shares), 16,08% owned by Intrigue Shipping Inc. (17.65% of voting shares), 5,06% - NovoShipInvest (5.56% of voting shares). The authorized capital of NovoShip consists of 412.660.422 shares (36.819.922 of preferred stock, 375.840.500 of common stock).