• 2021 August 2 13:59

    Tallink Grupp to increase share capital and to conduct public offering of new shares

    Tallink Grupp has today announced to the stock exchange the intention to increase the company’s share capital by up to EUR 31.5 million and the intention to conduct a public offering of new shares. The intended subscription period of the new shares is intended to be 18 August 2021 (including) – 01 September 2021 (including) and the company intends to offer up to 66,988,204 new ordinary shares.

    In case of oversubscription, the company may increase the number of shares offered by 10%, i.e. up to 73,687,024 shares, as a result of which the company’s share capital would be increased by up to EUR 34.6 million.

    The intended issue price per one new share is 0.47 euro per one share, which corresponds to the accounting value of the share, i.e. there is no issue premium.

    The new shares shall upon due issue rank pari passu with the existing ordinary shares of the Company and will grant shareholders similar rights. The new shares shall grant the shareholders the right to dividends for the financial year started on 01.01.2021 and the subsequent financial years.

    The existing shareholders of the company shall have the pre-emptive right to subscribe for the new shares in accordance with the provisions of the Commercial Code exercisable during the same subscription period referred to above. The list of the shareholders entitled to exercise the pre-emptive right to subscribe for the new shares shall be fixed at the end of the business hours of Nasdaq Central Depositary of Shares (Nasdaq CSD) on 17 August 2021 (the record date).

    AS Infortar, the largest shareholder of the company, holding approximately 39% of all the shares of Tallink Grupp, has issued a subscription guarantee to the company under which it undertakes, unconditionally and irrevocably, to subscribe for the new shares (if offered publicly as described above) in the total value of up to EUR 15 million.

    Commenting on the intention of the public offering of shares, Tallink Grupp’s CEO Paavo Nõgene said: „In 2020, as the COVID crisis broke out, we had to react and act fast in order to secure the stability and sustainability of the company and, at that time, we made the decision to initially focus on finding quick solutions with our good existing financial partners and our home markets’ governments. We are grateful to both our partner banks as well as our authorities and governments for the support given and their continued trust in us during these challenging times.

    „I am pleased that, in addition to the support from our partners and states, the faith in us has also significantly increased among our investors, the number of whom has more than doubled during the crisis and totals more than 28 700 at present, including 7 000 FDR holders in Finland. This figure and faith in us tells us that our shareholders support and understand the decisions made during this unprecedented year and believe they were the right course of action.

    „With the intended increase of share capital and public offering of shares we would now like to balance the steps taken so far with including our shareholders more and to offer all our good current and future shareholders also the opportunity to contribute to securing the future of our company.“

    The company intends to conduct a public offering of the new shares simultaneously in Estonia and Finland (in Finland in the form of the Finnish depositary receipts, FDRs) and Tallink intends to apply for the listing and admission to trading of the new shares in the main lists of the Nasdaq Tallinn Stock Exchange and the Nasdaq Helsinki Stock Exchange (in the latter in the form of the Finnish depositary receipts, FDRs).

    Conducting the public offering is subject to the approval of a public offering and listing prospectus by the Estonian Financial Supervision Authority, the proceedings of which are currently pending. The public offering is conducted in partnership with Swedbank in Estonia and digital investment platform Nordnet in Finland.

    AS Tallink Grupp is one of the leading providers of passenger transport and cargo transport services in the northern part of the Baltic Sea region. The company owns 15 vessels and operates several ferry routes under the brand names of Tallink and Silja Line. AS Tallink Grupp employs around 4,000 people in Estonia, Finland, Sweden, Latvia, Russia and Germany. The shares of Tallink Grupp are listed on the Tallinn Stock Exchange and Nasdaq Helsinki Stock Exchange.

2021 September 20

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12:53 International conference “Inland waterways: strategic potential for growth” kicked off in Saint-Petersburg
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11:58 Port of Oakland import volume edged up in August 2021
10:51 New study reveals vessels using Jotun HPS reported 20% lower carbon intensity in operations
10:12 4th International Conference “Development of Icebreaking and Support Fleet“ kicked off in Saint-Petersburg
09:41 Crude oil prices decrease as oil production resumes in the Gulf of Mexico
09:35 San Pedro Bay Ports announce new measures to speed cargo throughput
09:27 MABUX: Global bunker market is in a stable state on Sep 20
09:13 Baltic Dry Index as of September 17

2021 September 19

15:23 Austal names Rusty Murdaugh as Austal USA President
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13:04 Babcock sells first new frigate design licence to Indonesia
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10:56 South Louisiana ports advocate for federal aid post Hurricane Ida

2021 September 18

15:07 Energy-saving investments clear the way for shore-based power
13:49 GROUPE IDEC is developing the first XXL energy - positive activity park in Europe
12:41 IMOCA extends relationship naming Iridium and Thales as official communications partners
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10:49 Industry alarmed as spat between governments threatens investment in Scottish ports – BPA

2021 September 17

17:49 New radar post to increase navigation safety in the seaport of Kaliningrad
17:26 Svanehøj acquires Wärtsilä Tank Control Systems
17:06 Navigator Gas awarded DNV AiP for new ammonia fuelled gas carrier design
16:47 Zelenodolsk Plant named after M. Gorky launches small-size missile ship Grad
16:31 PIL launches new South China to India West Coast Service - South China India Express
16:05 De Beers’ latest diamond recovery vessel departs Damen Shipyards Mangalia for Southern Africa
15:46 Port of Melbourne CEO announces retirement
15:25 Transneft Baltic holds large-scale firefighting and tactical drills at Ust-Luga Oil Depot
14:18 Grain traders to address RF Ministry of Agriculture and ask it revise grain export duty calculation system
13:27 Rostov Grain Terminal handled 80,000 tonnes of grain in August 2021
12:10 APM Terminals Poti marks two years without injury and celebrates its safety culture
11:56 Vitol’s V-Bunkers to bring electric-hybrid bunker tankers to Singapore harbour
11:05 ABS and DSME to develop very large liquefied CO2 carrier
10:55 DP World to invest £300m in new fourth berth at London Gateway logistics hub
10:34 Severnaya Verf shipyard launches third processing trawler of Project 170701, Kapitan Ostashkov (video)
09:58 The Port of Calais officially inaugurated
09:26 Crude oil market sees downward price correction
09:23 MABUX: No firm trend is registered on global bunker market on Sep 17
09:09 Baltic Dry Index as of September 16

2021 September 16

18:35 Boskalis completes EUR 100 million share buyback program
17:30 Construction of port Lavna kicked off in Murmansk Region
17:21 APM Terminals opens first “Fast Corridor” between Vado Ligure reefer terminal and inland customers in Italy
17:05 Wärtsilä cloud simulation now available on-demand via OTG’s Ocean Learning Platform
16:41 Evergreen’s Ever Ace with WinGD’s large bore X92 bore size engines crossed the Suez Canal
16:14 The new Port of Calais officially inaugurated after six years of construction
15:45 Southampton’s newest cruise terminal officially opened
15:35 Organizers of International Conference “Development of Icebreaking and Support Fleet“ offer the event programme
15:14 Dublin Port publishes Port Infrastructure Charges Pricing Strategy 2022 to 2026
14:53 Port of Oakland beef export volume up 25 percent in Jan - July 2021
14:37 UK ports welcome public support for clean maritime projects
14:26 IVECO and Nikola sign MoU with Hamburg Port Authority for zero-emission Class 8 battery-electric trucks
13:40 SMM Maritime Industry Report (MIR) shows industry on track for sustainability
13:16 MABUX: Bunker Weekly Outlook, Week 37, 2021
13:02 Port of Los Angeles cargo volume exceeds 954,000 TEU in August 2021
12:11 Sharrow Marine announces plans to roll out an exclusive OEM Sharrow Propeller™ Boatbuilder Program
11:47 TransContainer arranged transit transportation from Korea to Turkey via Far East and Novorossiysk ports
11:24 DOF Group announces new contracts in Brazil
11:02 Cargo-passenger ferry Pavel Leonov arrived at Korsakov, the ship’s homeport
10:38 Capacity of Vostochny Port’s multipurpose complex to be raised to 117,000 TEUs per year