GasLog Ltd. Announces Public Offering and Concurrent Private Placement of Common Shares
15 Janvier 2014 - 10:18PM
Business Wire
GasLog Ltd. (“GasLog” or the “Company”) (NYSE:GLOG) announced
today that it plans to offer 8,400,000 of its common shares to the
public (the “Public Offering”). The Company intends to grant the
underwriters of the Public Offering a 30-day option to purchase up
to 1,260,000 additional common shares. Concurrently with the Public
Offering, the Company is also selling through a private placement
approximately $30 million of common shares to certain of its
directors and officers and one of its major shareholders at the
public offering price (the “Private Placement”).
The Company plans to use the net proceeds of the Public Offering
and Private Placement to fund a portion of the purchase price of
the Company’s recently announced purchase of three LNG carriers
from Methane Services Ltd. (“MSL”), an affiliate of BG Group, and
for general corporate purposes.
Citigroup Global Markets Inc. and RS Platou Markets AS are
acting as joint book-running managers of the offering, which will
be made under an effective shelf registration statement.
The offering is being made only by means of a prospectus
supplement and accompanying base prospectus. When available, the
prospectus supplement and accompanying base prospectus relating to
the offering may be obtained from Citigroup Global Markets Inc.,
c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 (tel: (800) 831-9146), and RS Platou Markets AS,
c/o RS Platou Markets, Inc., 410 Park Avenue, Suite 710, New York,
New York (tel: (855) 864-2265) or Office@platou.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction.
About GasLog Ltd.
GasLog is an international owner, operator and manager of LNG
carriers. Following the acquisition of the ships from MSL, GasLog’s
fleet will include 18 wholly-owned LNG carriers, including eleven
ships in operation and seven LNG carriers on order. In addition,
GasLog currently has 12 LNG carriers operating under its technical
management for third parties. GasLog’s principal executive offices
are located at Gildo Pastor Center, 7 Rue du Gabian, MC 98000,
Monaco. GasLog’s website is http://www.gaslogltd.com.
Forward Looking Statements
This press release contains “forward-looking statements” as
defined in the Private Securities Litigation Reform Act of 1995.
The reader is cautioned not to rely on these forward-looking
statements. All statements, other than statements of historical
facts, that address activities, events or developments that the
Company expects, projects, believes or anticipates will or may
occur in the future, including, without limitation, future
operating or financial results and future revenues and expenses,
future, pending or recent acquisitions, general market conditions
and shipping industry trends, the financial condition and liquidity
of the Company, cash available for dividends payments, future
capital expenditures and dry-docking costs and new build vessels
and expected delivery dates, are forward looking statements. These
statements are based on current expectations of future events. If
underlying assumptions prove inaccurate or unknown risks or
uncertainties materialize, actual results could vary materially
from our expectations and projections. Risks and uncertainties
include, but are not limited to, general LNG and LNG shipping
market conditions and trends, including charter rates, ship values,
factors affecting supply and demand and opportunities for the
profitable operations of LNG carriers; our continued ability to
enter into multi-year time charters with our customers; our
contracted charter revenue; our customers’ performance of their
obligations under our time charters and other contracts; the effect
of the worldwide economic slowdown; future operating or financial
results and future revenue and expenses; our future financial
condition and liquidity; our ability to obtain financing to fund
capital expenditures, acquisitions and other corporate activities,
and funding by banks of their financial commitments; future,
pending or recent acquisitions of ships or other assets, business
strategy, areas of possible expansion and expected capital spending
or operating expenses; our ability to complete the formation of a
proposed master limited partnership; our ability to enter into
shipbuilding contracts for newbuilding ships and our expectations
about the availability of existing LNG carriers to purchase, as
well as our ability to consummate any such acquisitions; our
expectations about the time that it may take to construct and
deliver newbuilding ships and the useful lives of our ships; number
of off-hire days, drydocking requirements and insurance costs; our
anticipated general and administrative expenses; fluctuations in
currencies and interest rates; our ability to maintain long-term
relationships with major energy companies; expiration dates and
extensions of charters; our ability to maximize the use of our
ships, including the re-employment or disposal of ships no longer
under multi-year charter commitments; environmental and regulatory
conditions, including changes in laws and regulations or actions
taken by regulatory authorities; risks inherent in ship operation,
including the discharge of pollutants; availability of skilled
labor, ship crews and management; potential disruption of shipping
routes due to accidents, political events, piracy or acts by
terrorists; and potential liability from future litigation. A
further list and description of these risks, uncertainties and
other factors can be found in our Annual Report filed March 28,
2013. Copies of the Annual Report, as well as subsequent filings,
are available online at www.sec.gov or
on request from us. We do not undertake to update any
forward-looking statements as a result of new information or future
events or developments.
GasLog Ltd.Paul Wogan (CEO)Phone: +377 9797 5120orSimon Crowe
(CFO)Phone: +377 9797 5115orJamie Buckland (Investor
Relations)Phone: +377 9797 5117orSolebury Communications, NYCRay
PosadasPhone: +1 203 428 3231ir@gaslogltd.com
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