Transactions such as the purchase and sale of vessels, new cargo contracts etc. are an integrated part of NORDEN’s business model, and only in rare cases do they affect the Company’s earnings and business significantly and independently. The Company has therefore decided on the below guidelines for when such transactions entail separate information to the market in the form of a company announcement:
NORDEN will send out a company announcement to the market provided that a transaction:
- Concerns more than 10 vessels,
- Takes place at terms different from the market and entails a net present value of more than +/-3% of the Company’s market capitalisation, or
- Indicates a change of strategy
The above does not rule out that other factors which are assessed to considerably affect the price of NORDEN’s shares will result in publication of company announcements regarding transactions.
The Company will continue to provide detailed information about fleet composition in the interim reports. As previously, focus will be on the core fleet in the form of owned vessels and vessels chartered for more than 13 months. Furthermore, up-to-date fleet lists for both the dry cargo and the tanker segment are available here on the website.