Reference is made to stock exchange release of 16.02.16 at 08:51 regarding insufficient support for the revised restructuring proposal.
The Board of Directors has today decided that the company shall continue its operations. The decision entails that the company continues its negotiations with its financial creditors with an aim to reach an agreement that that will enable the company to come through the current market challenges.
The company maintains ordinary operations where focus remains on operational safety. Hereunder honoring all running commitments under existing contracts and all other commitments towards customers and suppliers. During the negotiating period the company will not pay interest, amortizations or other commitments to its financial creditors. The company's bank relations have approved this. The Board of Directors resolution rests on the assumption that a continuation of Havila Shipping as a going concern will result in the best solution for all stakolders.
Based on this negotiations with financial creditors continues.
Contacts:
CEO Njål Sævik (+47) 909 35 722
CFO Arne Johan Dale (+47) 909 87 706