Month: November 2020

SummaryThe sharp fall in oil prices and the outbreak of the Covid-19 virus in the first quarter have reduced activity in the market in where the vessel operates. Reduced demand for vessels has a negative effect on the company. The market outlook was reassessed in the second quarter and led to a write-down of the value for most vessels. The assessments were maintained in the third quarter.The agreement on restructuring of the company’s debt was implemented on 30/06/20 and clarifies the company’s obligations to lenders for the period until 2024. The calculated effect of the agreements means that book equity is positive at the end of 2nd quarter. The implementation effect of the agreement was incorporated in the accounts for the second quarter. Financial expenses in the accounts consist of a change in the calculated present value of estimated...

SammendragDet sterke fallet i oljepris og utbruddet av Covid-19 viruset i første kvartal har redusert aktiviteten i markedet hvor fartøyene opereres.Redusert etterspørsel etter fartøy påvirker selskapet negativt.  Markedsutsiktene ble revurdert i andre kvartal og medførte nedskrivning av verdien for de fleste fartøy.  Vurderingene er opprettholdt i tredje kvartal.Avtalen om restrukturering av selskapets gjeld ble gjennomført 30.06.20 og avklarer selskapets forpliktelser overfor långiverne for perioden ut 2024.  Implementeringseffekten av avtalen ble innarbeidet i regnskapet for andre kvartal. Finanskostnader i regnskapet består av endring i beregnet nåverdi av estimert gjeldsbetjening for fartøyene i avtaleperioden.Havila Shipping ASA hadde et resultat før avskrivninger på NOK 36,4 million i 3. kvartal 2020, mot NOK 92,9 million i 3....

LONDON, Nov. 27, 2020 (GLOBE NEWSWIRE) — Global Ship Lease, Inc. (NYSE: GSL) (the “Company”) today announced that it has sent notice of mandatory partial redemption of its 9.875% First Priority Secured Notes due 2022 (the “Notes”) to holders of the Notes. The Company is mandatorily redeeming (the “Mandatory Partial Redemption”) of $28,000,000 aggregate principal amount of the Notes (the “Redeemed Notes”) at a redemption price equal to 102.00% of the principal amount thereof (the “Redemption Price”) plus accrued and unpaid interest to, but not including, the redemption date of December 7, 2020 (the “Redemption Date”). The Mandatory Partial Redemption is being made pursuant to requirements set forth in the indenture governing the Notes that requires the Company to redeem Notes.The Redeemed Notes will be selected by Citibank, N.A., London...

AUSTIN, Texas, Nov. 27, 2020 (GLOBE NEWSWIRE) — Cassava Sciences, Inc. (Nasdaq: SAVA) today announced that the World Health Organization (WHO) advised the United States Adopted Names Council (USAN) to modify the chemical name of the Company’s lead drug candidate to ‘simufilam.’ This change was advised by WHO to avoid a potential trademark conflict with a drug marketed in the Far East.USAN has accepted WHO’s advice. Future references to Cassava Sciences’ lead drug candidate for Alzheimer’s disease will be simufilam.About USANThe United States Adopted Names Council is responsible for selecting simple, informative and unique nonproprietary drug names. The USAN Council establishes logical nomenclature classifications based on pharmacological or chemical relationships. In addition to one member-at-large and a U.S. Food and Drug Administration...

Currently Holds 80% Of Its Pre-IPO Palantir Holdings, Consistent with Lock-Up AgreementAnticipates Declaring Additional Dividend By Year-EndSAN FRANCISCO, Nov. 27, 2020 (GLOBE NEWSWIRE) — SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today issued the following statement to provide additional clarity regarding its current investment in Palantir Technologies, Inc. (“Palantir”):“We currently hold 4,618,952 restricted common shares of Palantir. This is consistent with the Palantir lock-up agreement, reflecting 80% of our pre-IPO holdings of 5,773,690 common shares,” said Mark Klein, President and Chief Executive Officer of SuRo Capital. “At the end of the third quarter, we held 5,373,690 common shares of Palantir, inclusive of 754,738 remaining unrestricted common shares. As reported in our...

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESOAKVILLE, Ontario, Nov. 27, 2020 (GLOBE NEWSWIRE) — Saint Jean Carbon Inc. (“Saint Jean” or the “Company”) (TSX-V: SJL) is pleased to announce that it intends to complete a non-brokered private placement financing of up to 3,500,000 common shares in the capital of the Company (the “Shares”) at a price of $0.035 per Share for gross proceeds of up to $122,500 (the “Offering”). The Shares are subject to a four month and one (1) day hold period.The Company intends to use the proceeds of the Offering to preserve the Company’s existing operations and for general corporate and administrative purposes. The breakdown of the intended use of proceeds for the ensuing 6-month period is shown in the table below:Although the Company intends to use the proceeds...

Tallink Silja OY, a subsidiary of AS Tallink Grupp, and Nordic Investment Bank (“NIB”) have today signed a term loan agreement for financing of working capital. The total amount of the loan limit is EUR 100 million and the loan can be drawn in EUR 10-40 million disbursements.  The loan is secured by the mortgages on the consolidation group’s vessels Megastar and Baltic Queen, ranking after the existing creditors and the corporate guarantee of AS Tallink Grupp. The Government of the Republic of Finland has issued a state guarantee in favour of NIB regarding the loan facility covering 90% of the outstanding principal amount of the loan.The loan carries Euribor based floating interest rate and has final maturity of four years. The repayment of the loan starts in two years from the signing of the agreement.As a result of the transaction,...

AS Tallink Grupp tütarettevõte Tallink Silja OY ja Põhjamaade Investeerimispank (Nordic Investment Bank, “NIB”) allkirjastasid täna käibekapitali laenulepingu. Laenulimiidi ulatus on 100 miljonit eurot ning laen on lubatud kasutusse võtta 10-40 miljoni euro suuruste osade kaupa.Laenu tagatiseks on hüpoteegid konsolideerimisgruppi kuuluvate laevade Megastar ja Baltic Queen olemasolevate kreeditoride taga olevale järjekohtadele ja AS-i Tallink Grupp garantii. Soome Vabariigi valitsus on andnud NIB kasuks riigipoolse garantii, mis katab 90% kasutuses olevast laenu põhiosast.Laen kannab Euriboril baseeruvat muutuvat intressimäära ja on tagasimaksete lõpptähtajaga neli aastat. Laenu tagasimaksed algavad kahe aasta pärast alates laenulepingu sõlmimisest.Sõlmitud laenuleping tugevdab Tallink Silja OY, ja seeläbi kogu konsolideerimisgrupi...

Tallink Silja OY, a subsidiary of AS Tallink Grupp, and Nordic Investment Bank (“NIB”) have today signed a term loan agreement for financing of working capital. The total amount of the loan limit is EUR 100 million and the loan can be drawn in EUR 10-40 million disbursements.  The loan is secured by the mortgages on the consolidation group’s vessels Megastar and Baltic Queen, ranking after the existing creditors and the corporate guarantee of AS Tallink Grupp. The Government of the Republic of Finland has issued a state guarantee in favour of NIB regarding the loan facility covering 90% of the outstanding principal amount of the loan.The loan carries Euribor based floating interest rate and has final maturity of four years. The repayment of the loan starts in two years from the signing of the agreement.As a result of the transaction,...