Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 5 February 2018, 19:00 HKT/SGT
Share:
    

Source: Wintermar Offshore Marine Group
Wintermar Offshore (WINS.JK) to Issue 200 Million New Shares
@Rp350 per share to raise Rp 70 billion of new equity

JAKARTA, Feb 5, 2018 - (ACN Newswire) - PT Wintermar Offshore Marine Tbk will issue 200 million new shares without pre-emptive rights at a price of Rp350 per share in February. This issuance will raise new equity of Rp70 billion and improve the Company's capital structure.

The share issuance represents half of the tranche of 400 million new shares that was approved by shareholders in the Company's EGM in May 2017. As previously informed through Disclosure Information, these shares will be issued to the principal controlling shareholder, PT Wintermarjaya Lestari. The funds will be used for working capital needs and to reduce debt.

Business Outlook

The recent weeks have seen a sustained rise in oil prices, and the Company has benefitted from an increase in activities. This rise in activity requires a higher level of working capital to prepare and mobilize vessels to commence operations. With the start of several new contracts, fleet utilization has risen to 70% in December 2017.

Wintermar has also widened our scope of activities, as seen in the recent successful award of an Air Diving and Sub Sea contract through a consortium with specialists in the field. At the end of December 2017, contracts on hand were US$100million.

Strategy

We will continue to sell our low tier and older vessels to continue our strategy to keep our fleet young, while starting to invest in strengthening our organization through selective hiring. As the market regains momentum, this new injection of equity will provide a reserve of cash for any potential business opportunities.


About Wintermar Offshore Marine Group

Wintermar Offshore Marine Group (WINS.JK), developed over 40 years with a track record of quality that is both a source of pride and responsibility that we are dedicated to upholding, sails a fleet of more than 70 Offshore Support Vessels ready for long term as well as spot charters. All operated by experienced Indonesian crew, tracked by satellite systems and monitored in real time by shore-based Vessel Teams.

In 2011, Wintermar became the first shipping company in Indonesia to be certified with an Integrated Management System by Lloyd's Register Quality Assurance, comprising ISO 9001:2008 (Quality), ISO14001:2004 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.

Contact:
Ms. Pek Swan Layanto, CFA
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel +62 21 530 5201 Ext 401
Email: investor_relations@wintermar.com


Feb 5, 2018 19:00 HKT/SGT
Source: Wintermar Offshore Marine Group

Topic: Issue of Stocks/Bonds
Sectors: Daily Finance, Energy, Marine/Offshore
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Wintermar Offshore Marine Group
July 30, 2018 14:00 HKT/SGT
Wintermar Offshore Marine reports positive 1H2018 Results
July 2, 2018 20:00 HKT/SGT
Wintermar Offshore (WINS.JK) Fully Repays US$39.72 Million Loan
Apr 30, 2018 16:00 HKT/SGT
Wintermar Offshore (WINS.JK) 1Q2018 Owned Vessel revenue jumps 48% to US$14M
Mar 21, 2018 13:30 HKT/SGT
Wintermar Offshore (WINS:JK) Reports FY2017 Results
Oct 30, 2017 20:30 HKT/SGT
Wintermar Offshore (WINS:JK) Reports 9M2017 Financial Results
Oct 30, 2017 19:00 HKT/SGT
Wintermar Offshore (WINS:JK) Reports 9M2017 Financial Results
Aug 1, 2017 08:55 HKT/SGT
Wintermar Offshore (WINS:JK) Reports 1H2017 Financial Results
July 31, 2017 14:00 HKT/SGT
Wintermar Offshore (WINS:JK) Reports 1H2017 Financial Results
May 18, 2017 16:00 HKT/SGT
Wintermar Offshore (WINS.JK) Shareholders approve Placement of Shares and new Board Directors
May 16, 2017 17:30 HKT/SGT
Wintermar Offshore (WINS) Group completes Loan Rescheduling with Key Lenders
More news >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: