Bangkok--22 Dec--Neo Target
Thoresen Thai Agencies Public Company Limited (“TTA”) announced the successful completion of the tender offer of Unique Mining Services Public Company Limited (“UMS”). The offer by Athene Holdings Ltd. was concluded on 14 December 2009, making TTA a 89.55% owner of UMS.
M.L. Chandchutha Chandratat, President & CEO, revealed that TTA is pleased to announce that Athene Holdings Ltd. (“Athene”), a wholly owned subsidiary, successfully completed the tender offer for the remaining shares and warrants of UMS on 14 December 2009. Through the tender offer, TTA acquired 62,433,875 shares, or 41.08% of the outstanding shares, and 53,231,119 warrants, or 76.05% of the outstanding warrants. TTA had already acquired 48.46% of the outstanding shares and 4.60% of the outstanding warrants on 26 October 2009. After the tender offer, TTA currently owns 136,083,041 shares, or 89.55% of the outstanding shares, and 56,453,219 warrants, or 80.65% of the outstanding warrants, of UMS.
“The overall performance of UMS in 2009 is below 2008 due to lower demand for coal from its clients. The medium-term outlook for the business remains attractive, and TTA is actively focused on growing UMS further in the coming years.
We are pleased that UMS has become an integral part of TTA and are fully confident in the expertise and potential growth of UMS. We are delighted that the tender offer results allow us to drive our strategic business plans in UMS. We look forward to many synergies with our dry bulk shipping business and shipping services businesses.”, said M.L. Chandchutha.
About TTA
Thoresen Thai Agencies Public Company Limited is amongst the top 50 companies listed on the Stock Exchange of Thailand with high trading liquidity. Its investment strategy is to grow through a diversified business portfolio of transport, energy, and infrastructure assets, both domestically and internationally. TTA is recognised as a leader in the dry bulk shipping industry. The company has also expanded its investment into other business areas, such as offshore services through Mermaid Maritime Public Company Limited, fertilisers and logistics through Baconco Co., Ltd., and coal-related businesses through Merton Group (Cyprus) Limited and Unique Mining Services Public Company Limited.
For further information, please contact
Thoresen Thai Agencies PCL.
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Neo Target Co.,Ltd.
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