Himalaya Shipping Ltd. (HSHP) - Contemplated Private Placement of USD 17.5 million
Summary
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO BUY, SELL OR SUBSCRIBE FOR ANY SECURITIES DESCRIBED HEREIN.Himalaya Shipping Ltd. (NYSE and Euronext Expand: HSHP) (the Company) hereby announces a contemplated private placement (the Private Placement) of the NOK equivalent of USD 17.5 million in new shares (the Offer Shares), each with a par value of USD 1.00. Neither the Managers nor the Company will be liable for any losses incurred by applicants if the Private Placement is cancelled or modified, irrespective of the reason for such cancellation or modification.The Company has considered the Private Placement in light of the equal treatment obligations under the Norwegian Securities Trading Act and the rules on equal treatment under Oslo Rule Book II for companies listed on the Oslo Stock Exchange and the Oslo Stock Exchanges Guidelines on the rule of equal treatment, and the Board is of the opinion that the contemplated transaction is in compliance with these requirements and guidelines. The Board has concluded that offering of new shares in a private placement, on a price equal to the prevailing market price, and with limited dilution, at this time to be in the common interest of the Company and its shareholders.Clarksons Securities AS and Arctic Securities AS act as joint managers and bookrunners in connection with the Private Placement (the Managers). Ro Sommernes advokatfirma DA is acting as legal advisor to the Company in connection with the Private Placement.This information is considered to be inside information pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The six vessels under construction are expected to be delivered by July 2024.Important note: This announcement is not being made in or into Canada, Australia, Japan, Hong Kong or in any other jurisdiction where it would be prohibited by applicable law.