Grindrod Shipping Holdings Ltd., a global provider of maritime transportation services predominantly in the drybulk sector, announced that, on August 16, 2024, its previously announced selective capital reduction became effective pursuant to Section 78G of the Companies Act of 1967 of Singapore (the “Selective Capital Reduction”). Capitalised terms not otherwise defined herein shall have the meanings ascribed to them in the circular issued to shareholders of the Company dated May 14, 2024.
The Selective Capital Reduction became effective upon the lodgement of the Court Order, at which time all issued ordinary shares of the Company (the “Shares”) held by shareholders of the Company, except for Shares held by Good Falkirk (MI) Limited, were cancelled. The Cash Distribution of $14.25 for each Participating Share is expected to be paid on August 21, 2024, but, in any case no later than August 27, 2024, by Continental Stock Transfer and Trust Company for shares held at Nasdaq; and via Computershare Investor Services (Pty) Ltd for shares held at Johannesburg Stock Exchange to each Participating Shareholder.