In accordance with the provisions of paragraph 4.1.2 of the Athens Stock Exchange Regulation (the “ATHEX”) and the decision no. 25 of the ATHEX Board of Directors It is announced that, from the issuance of a Common Bond Loan amounting to one hundred million (€ 100,000,000) for a period of five (5) years, divided into 100,000 intangible, common, anonymous bonds with a nominal value of € 1,000 each according to the provisions of Law 4548 / 2018 and, following the entry into force of this law, all the provisions of Law 3156/2003 continue to apply, by the company with the name “SAFE BULKERS PARTICIPATIONS PLC” (the “Company”), with the guarantee of the company with the name “SAFE BULKERS INC.” (the “Guarantor”), carried out in accordance with the decision of the Board of Directors of the Company dated 19.01.2022 and the decision of the Board of Directors of 19.01.2022 as well as the decision of 31.01.2022 approving the content of the Prospectus by Hellenic Capital Market Commission, a total capital of one hundred million euros (€ 100,000,000) was raised.
Issuance costs amounted to approximately three million euros (€ 3,000,000) and reduced the total funds raised, respectively. The certification of the payment of the raised funds was made by the Board of Directors of the Company on 11.2.2022. The funds raised were disbursed in accordance with
below in Euros, as they are deposited in the Company’s bank accounts in Euros and will remain deposited in the Company’s bank accounts in Euros or US Dollars, at the Company’s discretion, until fully disposed of in accordance with condition 3.2 of the Bond Loan Program.
According to the commitments made in the relevant Prospectus approved by the Hellenic Capital Market Commission and the decision of the Board of Directors of 17.02.2022, it is announced that the funds raised amount to one hundred million euros (€ 100,000,000), minus the amount of three million (€ 3,000,000) which concerns issue costs, were allocated until 18.02.2022 as follows:
For the sake of completeness, it is noted that the amount of € 9.71 million corresponds to an advance payment of 10% of the price in US dollars. for the purchase of the ships Koulitsa 2, Paraskevi 2, Troodos Air and Venus Harmony and was made available on the basis of each Memorandum of Understanding concluded between the wholly (100%) Subsidiaries of the Company “Stalem Shipping Corporation”, “Napalem Shipping Corporation”, “Kastrolem Shipping Corporation “and” Vaslem Shipping Corporation “as Buyers and the wholly (100%) Affiliates of the Guarantor” Kyotofriendo Two Shipping Corporation “,” Kyotofriendo One Shipping Corporation “,” Shikokuexi Shipping Inc. ” and “Armonikos Shipping Corporation” as Sellers in Euro.
The above amount was allocated through an increase in the share capital of the subsidiaries of the Company “Stalem Shipping Corporation”, “Napalem Shipping Corporation”, “Kastrolem Shipping Corporation” and “Vaslem Shipping Corporation” that will acquire the ships under acquisition. The Company will continue to inform the ATHEX Management. and the Hellenic Capital Market Commission, in accordance with the legislation in force, regarding the use of the raised funds until the full and final disposal of the raised funds. The investing public will be informed about the disposal of the raised funds through the ATHEX website, the Company and the ATHEX Daily Price Bulletin.
Source: Capital
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