JSE Sens
GRINDROD SHIPPING HOLDINGS LIMITED - Completion of Previously Announced Addition of IVS Pebble Beach and Sale of IVS Nightjar
2020/09/22 08:30:00Download PDF Stock report
Completion of Previously Announced Addition of IVS
Pebble Beach and Sale of IVS Nightjar
GRINDROD SHIPPING HOLDINGS LTD.
ABBREVIATED NAME: GRINSHIP
Registered in Singapore with registration number 201731497H
JSE Share code: GSH
ISIN: SG9999019087
Primary listing on NASDAQ Global Select Market
Secondary listing on the JSE Main Board
Grindrod Shipping Holdings Ltd. Announces Completion of Previously Announced Addition of IVS
Pebble Beach and Sale of IVS Nightjar
Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or “Company” or “it” or
“we”), a global provider of maritime transportation services in the drybulk and product tanker sectors,
announced two transactions with respect to its fleet.
On September 15, 2020, the Company took delivery of the IVS Pebble Beach, a Japanese-built eco ultramax
drybulk carrier newbuilding. As previously disclosed, the vessel has been chartered-in from its owner for
a minimum period of two years with options to extend for up to two additional years, at Grindrod
Shipping’s election. In addition, the Company holds options to purchase the vessel in the future.
On September 2, 2020, the previously announced sale of the 2004-built handysize drybulk carrier
IVS Nightjar was completed, with the vessel being delivered to her new owners.
About Grindrod Shipping Holdings Ltd.
Grindrod Shipping owns and operates a diversified fleet of owned and long-term and short-term
chartered-in drybulk vessels and product tankers. The drybulk business, which operates under the brand
“Island View Shipping” (“IVS”) includes a fleet of 16 handysize drybulk carriers and 15 supramax/ultramax
drybulk carriers on the water with one chartered-in ultramax drybulk carrier under construction in Japan
due to be delivered between 3Q 2020 and 1Q 2021. The tanker business, which operates under the brand
“Unicorn Shipping” (“Unicorn”) includes a fleet of three medium range tankers and one small tanker. The
Company is based in Singapore, with offices in London, Durban, Tokyo, Cape Town and Rotterdam.
Grindrod Shipping is listed on NASDAQ under the ticker “GRIN” and on the JSE under the ticker “GSH”.
Forward-Looking Statements
The statements in this press release that are not historical facts may be forward-looking statements. The
Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking
statements in order to encourage companies to provide prospective information about their business.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor
legislation. The forward-looking statements in this press release are based upon various assumptions,
including, without limitation, Grindrod Shipping management's examination of historical trends, data
contained in the Company's records and other data available from third parties. Although the Company
believes that these assumptions were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are difficult or impossible to predict and are
beyond the Company's control, the Company cannot assure you that it will achieve or accomplish these
expectations, beliefs or projections. These forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those discussed in the forward-looking statements.
These risks and uncertainties include, among others, those discussed in Grindrod Shipping's public filings
with the SEC. Except as required by law, Grindrod Shipping undertakes no obligation to update publicly or
release any revisions to these forward-looking statements to reflect events or circumstances after the
date of this press release or to reflect the occurrence of unanticipated events.
Company Contact: Investor Relations / Media Contact:
Martyn Wade / Stephen Griffiths Nicolas Bornozis / Daniela Guerrero
CEO / CFO Capital Link, Inc.
Grindrod Shipping Holdings Ltd. 230 Park Avenue, Suite 1536
200 Cantonment Road, #03-01 Southpoint New York, N.Y. 10169
Singapore, 089763 Tel.: (212) 661-7566
Email: ir@grindrodshipping.com Fax: (212) 661-7526
Website: www.grinshipping.com Email: grindrod@capitallink.com
By order of the Board
22 September 2020
Sponsor: Grindrod Bank Limited
Date: 22-09-2020 08:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.