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d'Amico International Shipping S.A.
Legal Proceedings Report • Jul 24, 2024
9964_iss_2024-07-24_8745a800-82fc-4cdc-ae8d-a14060dcdc1f.pdf
Legal Proceedings Report
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PRESS RELEASE
d'AMICO INTERNATIONAL SHIPPING S.A. ANNOUNCES THE CANCELLATION OF THE PURCHASE OF MT AMFITRION AND CONTINUES TO MONITOR THE MARKET FOR NEW OPPORTUNITIES
Luxembourg – July 24th , 2024 – d'Amico International Shipping S.A. (Borsa Italiana: DIS.IM and OTCQX Best Market: DMCOF) (the "Company" or "DIS"), an international marine transportation company operating in the product tanker market, announces that its operating subsidiary d'Amico Tankers D.A.C. (Ireland) ("d'Amico Tankers"), has cancelled the memorandum of agreement originally signed on April 9 th, 2024, as per the press release issued on April 10th, 2024. The agreement pertained to the purchase of the MT Amfitrion (the "Vessel"), a 50,000 dwt MR product tanker built in 2017. The cancellation results from the Sellers' failure to comply with the latest possible delivery date of the Vessel, stipulated in the memorandum of agreement.
As of today, DIS' fleet comprises 33 double-hulled product tankers (MR, Handysize and LR1, of which 25 owned, 5 chartered-in and 3 bareboat chartered-in) with an average age of about 8.8 years for its owned and bareboat chartered-in vessels.
Carlos di Mottola, Chief Executive Officer of d'Amico International Shipping, stated:
"Due to the Sellers' failure to adhere to the cancelling date stipulated in the contract, we regret to announce the cancellation of the acquisition of the Vessel, in accordance with our contractual rights. We have already requested the full reimbursement of the 10% deposit, which is currently held in an escrow account. At the same time, we will continue to actively monitor the market for new promising opportunities, which we are confident will emerge in the future."
From today this press release is available on the investor relations section of DIS' website, filed with the CSSF, disclosed through the e-market SDIR circuit, and stored at Borsa Italiana S.p.A. through the emarket STORAGE system and at Société de la Bourse de Luxembourg S.A. in its quality of OAM.
d'Amico International Shipping S.A. is a subsidiary of d'Amico Società di Navigazione S.p.A., one of the world's leading privately-o wn ed marine transportation companies, and operates in the product tankers sector, comprising vessels that typically carry refined petroleum products, chemical and vegetable oils. d'Amico International Shipping S.A. controls, through its fully-owned subsidiary, d'Amico Tankers D.A.C., Dublin, either through ownership or charter arrangements, a modern and double-hulled fleet, ranging from 35,000 to 75,000 deadweight tons. The Company has a long history of family enterprise and a worldwide presence with offices in key maritime centers (London, Dublin, Monaco, Stamford and Singapore). The Company's shares are listed on the Milan Stock Exchange under the ticker symbol "DIS.MI" and are traded also on the OTCQX Best Market in the US, under the ticker symbol "OTCQX: DMCOF".
Anna Franchin, Investor Relations Manager Tel: +35 2 2626292901 Tel: +37 7 93105472 E-mail: [email protected]
Capital Link New York - Tel. +1 (212) 661-7566 London - Tel. +44 (0) 20 7614-2950 E-Mail: [email protected]
Media Relations
Havas PR Milan Marco Fusco Tel.: +39 02 85457029 – Mob.: +39 345.6538145 E-Mail: marc[email protected] Antonio Buozzi Tel.: +39 320.0624418 E-Mail: [email protected]