Baltic Exchange Shareholders Approve Takeover by SGX

The Baltic Exchange Limited (Baltic Exchange) shareholders approved the GBP 87 million takeover by Singapore Exchange on Monday following a period of extensive consultation with shareholders and other stakeholders.

At the General Meeting held on September 26, immediately following the court meeting, the resolutions set out in the notice of the General Meeting included in the Scheme Circular were both passed by the requisite majorities of shareholders by way of a poll.

The resolutions comprised a special resolution approving the Scheme and certain corporate authorities requisite to the Scheme and an ordinary resolution to approve the Special Dividend.

In a separate announcement, Baltic Exchange said that Mark Jackson, currently Chief Commercial Officer of AM Nomikos Group and a former Chairman and Director of The Baltic Exchange, will become its next Chief Executive Officer.

He is expected to take up his appointment early in 2017 and replaces the current CEO Jeremy Penn, who last year announced his intention to stand down this summer.

Singapore Exchange Limited (SGX) and Baltic Exchange agreed on the terms for the recommended offer by SGX for the entire issued share capital of the Baltic Exchange in late August.

Under the terms of the proposed acquisition, Baltic Exchange shareholders will be entitled to receive GBP 160.41 in cash for each Baltic Exchange Share and GBP 19.30 in cash per Baltic Exchange Share as a final dividend.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >