Statement from the Board of Directors in Solvang ASA on the voluntary offer made by AS Clipper for the shares in Solvang ASA
19.04.2017Enclosed is the statement according to the Norwegian Securities Trading Act § 6-16 from the Board of Directors in Solvang ASA on the voluntary offer made by AS Clipper for the shares in Solvang ASA.
Enclosed is also a Fairness Opinion made by Pareto Securities dated 6(th) of April 2017.
Statement on voluntary offer
Pareto Fairness Opinion
Stavanger 19th of April 2017
Industry leading provider of LPG and petrochemical tonnage.
Solvang has a fleet of seven VLGCs, including two under construction, nine LGCs - of which three have been delivered from HHI in 2015 - and six ethane/ethylene carriers. Since 2008, the company and partners have invested more than USD 1.4 billion in new ships, giving a very modern fleet, with an average age of about 7 years. The company's headquarters are in Stavanger on the Norwegian south-west coast, with a commercial and operational team sitting in Oslo.
Our focus is to build, own and manage our fleet in a life cycle perspective, with a 20-25 year investment horizon. We do not use fleet management companies to run our ships - everything is done in-house in Stavanger and in Oslo. In addition, we have our own crewing office in the Philippines. To us, proper crew manning and training are essential factors and we're proud of our track record, having zero LTI (Lost Time Incident) frequency and outstanding vetting results.
Our main goals are: