TIDMOCN

RNS Number : 5975R

Ocean Wilsons Holdings Ld

12 December 2016

Ocean Wilsons Holdings Limited

Vessel financing approval

Our principal operating subsidiary, Wilson Sons Limited made the following announcement to the Brazilian and Luxembourg Stock Exchanges.

Wilson Sons Limited ("Wilson Sons" or "the Company"), announces to its shareholders that on 9 December 2016, the Brazilian Official Diary of the Union published a decision of the Board of Directors of the "FMM" ("Marine Merchant Fund") approving the Company's request for priority status to fund the repair and maintenance of 12 tugboats between 2017 and 2018 in the order of US$ 9.4 million. Wilson Sons will continue the process of contracting the debt with one of the FMM's financial agents.

This is the first time that a port towage company has obtained funding for this type of service in Brazil.

The repair and maintenance of the 12 vessels will take place at the Wilson Sons Shipyard, located in Guarujá, (state of São Paulo).

Enquiries

 
 Company Contact 
  Keith Middleton                          +1 441 295 1309 
 Media 
  David Haggie 
  Haggie Partners LLP                     +44 20 7562 4444 
 Cantor Fitzgerald Europe 
  David Foreman, Will Goode (Corporate 
  Finance)                                +44 20 7894 7000

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

December 12, 2016 09:00 ET (14:00 GMT)

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