This is a legacy page. Please click here to view the latest version.
Mon 9 Jan 2012, 15:06 GMT

Hamworthy shareholders vote in favour of Wärtsilä takeover


Shareholder approval paves the way for Wärtsilä acquisition to go ahead.



Wärtsilä has announced that, at both the Court Meeting and General Meeting of Hamworthy plc, held earlier today in relation to Wärtsilä's recommended acquisition of Hamworthy by way of Scheme of Arrangement, all the resolutions proposed received the strong support of Scheme Shareholders.

At the Court Meeting, a majority in number of Scheme Shareholders who voted (either in person or by proxy) and who together represented over 75 percent by value of the votes cast, voted in favour of the resolution to approve the Scheme. The resolution was accordingly passed.

At the General Meeting, the special resolution to approve certain matters necessary to implement the Scheme were also passed by the requisite 75 percent majority.

The proposed acquisition has received clearance from German and Norwegian antitrust authorities and the relevant condition in the offer announcement has therefore been satisfied.

Completion of the Acquisition remains subject to the satisfaction or waiver of the other Conditions, including the Court sanctioning the Scheme and confirming the associated Reduction of Capital at Court hearings which are expected to take place on 26 January and 30 January 2012 respectively.

Subject to the Scheme and the associated Reduction of Capital receiving the sanction and confirmation of the Court on those dates, the Scheme is expected to become effective on 31 January 2012.

Commenting on the results of the vote, Björn Rosengren, CEO, Wärtsilä Corporation, said: "We are delighted that the shareholders of Hamworthy have voted in favour of the Scheme. We believe strongly that by combining our resources with Hamworthy, we will be able to broaden and enhance our capabilities in rapidly evolving offshore, marine gas application, and environmental solutions markets. We welcome the management and employees of Hamworthy to Wärtsilä and look forward to combining our expertise and experience for the benefit of our customers around the globe."


Spirit of Mobile vessel. LD Armateurs launches second low-emission ro-ro vessel for Airbus charter fleet  

French shipowner LD Armateurs has launched its second methanol-capable, rotor sail-equipped ro-ro vessel at a Chinese shipyard.

Verde Marine Energy (VME) logo. Verde Marine Energy renews ISCC EU certification and achieves RED III compliance  

Dutch bunker supplier Verde Marine Energy says it is now fully compliant with the EU's updated renewable energy rules.

bound4blue receives DNV Type Approval. Bound4blue wins DNV type approval for its largest installed eSAIL suction sail  

DNV certification of the Model 3-24 eSAIL is said to support wider adoption of wind-assisted propulsion.

BGN and HD HHI signing ceremony. BGN expands owned LPG fleet with two additional VLGCs from HD HHI  

BGN signs a new shipbuilding contract, bringing its owned VLGC fleet to 19 vessels.

Medium-range (MR) tanker with Rotor Sails render. Anemoi and partners win DNV approval in principle for rotor sail integration on MR tankers  

DNV issues approval in principle for EX-rated rotor sail design on medium-range product tankers.

TMS Tankers logo. Lloyd’s Register delivers fleet-wide energy transition roadmap for TMS Tankers  

LR Advisory maps vessel-level compliance risk and decarbonisation pathways across the Greek owner’s tanker fleet.

Dr Prapisala Thepsithar, GCMD. GCMD shares biofuel assurance and green finance insights at Hong Kong shipping decarbonisation forum  

The Global Centre for Maritime Decarbonisation presented pilot findings on biofuels and energy efficiency financing.

Laura Maersk ethanol bunkering graphic. Maersk conducts large-scale ethanol bunkering trial on Laura Maersk in Rotterdam  

A.P. Moller – Maersk has conducted a barge-delivered ethanol bunkering operation as part of ongoing fuel trials.

Luminara vessel truck-to-ship bunkering. MOL Techno-Trade completes first LNG bunkering for international cruise ship in Hokkaido  

Truck-to-ship LNG operation at Hakodate marks first such supply to an international cruise vessel in Hokkaido.

Acta Gemini vessel. Acta Marine takes delivery of methanol dual-fuel CSOV Acta Gemini for RWE wind farm charter  

The vessel will support operations at the Sofia Offshore Wind Farm at Dogger Bank.


↑  Back to Top