Nimrod Sea Assets Limited Investment Update (6460P)
February 19 2016 - 11:45AM
UK Regulatory
TIDMNSA
RNS Number : 6460P
Nimrod Sea Assets Limited
19 February 2016
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THE INFORMATION
CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR
SALE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY
JURISDICTION IN WHICH SUCH AN OFFER OR SOLICITATION IS
UNLAWFUL.
NIMROD SEA ASSETS LIMITED
Investment Update
19 February 2016
Despite recent remarketing efforts, no credible offer has been
received to purchase the DSV Alliance from DSV Alliance DIS, the
Norwegian partnership which owns the vessel and in which Nimrod Sea
Assets Limited (NSA) is the majority shareholder.
NSA has therefore advised the directors of DSV Alliance AS (the
general partner of the partnership) that it will no longer provide
financial support for the maintenance of the vessel. In light of
this, winding up proceedings in Norway are being commenced in
respect of both DSV Alliance AS and DSV Alliance DIS.
NSA will write off its entire investment in the DSV Alliance
which had a book value of US$2 million at 30 September 2015. This
represented 2.23% of the published NAV as at 30 September 2015.
For further information please contact:
Nimrod Capital LLP + 44 (0) 20 7382 4565
Richard Bolchover
Marc Gordon
END OF ANNOUNCEMENT
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