BREDA, THE NETHERLANDS--(Marketwire - Jul 4, 2012) - Today Dockwise has, through its
wholly-owned subsidiary Dockwise White Marlin B.V., requested the Rotterdam
authorisation to convene an extraordinary shareholders meeting of Fairstar
Transport N.V. ("Fairstar") to appoint three independent directors to the
Fairstar Supervisory Board in addition to the two current members.
As announced previously Dockwise has on various occasions proposed to
to discuss the appointment of three new and independent Supervisory Board
members. Dockwise has proposed three highly qualified professionals with
relevant experience for Fairstar, who are independent from Dockwise and
independent within the meaning of the Dutch Corporate Goverance Code.
has consistently rejected this proposal and refused to meet with the
candidates. Dockwise holds that it is important that the Fairstar
Board is at full strength to ensure adequate independent supervision on
of Fairstar and all its stakeholders and to comply with the Fairstar
As a result of Fairstar's unwillingness to discuss and follow-up on the
governance proposal of Dockwise, Dockwise was required to make the request
the court. However, Dockwise has urged Fairstar again to reconsider its
position, also in view of the current shareholding of Dockwise. After
yesterday's announcement that Dockwise controlled 80.4% of the outstanding
shares of Fairstar, Dockwise made some additional purchases and now
83.4% stake in Fairstar.
About Dockwise Ltd./Dockwise Group
Dockwise Ltd., a Bermuda incorporated company, has a workforce of more than
1,200 people both offshore and onshore. The company is the leading marine
contractor providing total transport services to the offshore, onshore and
yachting industries as well as installation services of extremely heavy
platforms. The Group is headquartered in Breda, the Netherlands. The
main commercial offices are located in the Netherlands, the United States
China with sales offices in Korea, Australia, Brazil, Russia, Singapore,
Malaysia, Mexico and Nigeria. The Dockwise Yacht Transport business unit is
headquartered in Fort Lauderdale and has an office in Genoa, Italy. The
Shipping network is supported by a global network of agents.
To support all of its services to customers, the group also has three
engineering centers in Houston, Breda and Shanghai, manufactures specific
reduction equipment such as LMU (Leg Mating Units) and DMU (Deck Mating
and owns a fleet of 19 purpose built, semi-submersible vessels.
Dockwise shares are listed on the Oslo Stock Exchange under ticker DOCK and
NYSE Euronext Amsterdam under ticker DOCKW.
This information is subject of the disclosure requirements pursuant to
5-12 of the Norwegian Securities Trading Act.
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Source: Dockwise Ltd via Thomson Reuters ONE