UNITED STATES
SECURITY AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
FOREIGN PRIVATE ISSUER REPORT PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES
1934 TRADE ACT
For the month of September 2021
Commission file number 001-38440
Grindrod Shipping Holdings Ltd.
# 03-01 South Point
200, route du cantononnement
Singapore 089763
(Address of the main executive offices)
Indicate by checking whether the declarant files or will file annual reports under the cover of Form 20-F or Form 40-F.
Form 20-F?? Form 40-F??
Indicate with a check mark whether the declarant is submitting Form 6-K on paper, as permitted by rule 101 (b) (1) of the ST Regulation: ??.
To noteNote: Rule 101 (b) (1) of the TS Regulation only allows paper submission of a Form 6-K if it is submitted solely to provide an attached annual report to securityholders.
Indicate with a check mark whether the declarant is submitting Form 6-K on paper, as permitted by Rule 101 (b) (7) of the ST Regulation: ??.
To note: Rule 101 (b) (7) of the ST Regulation only allows the paper submission of a Form 6-K if it is submitted to provide a report or other document that the registered foreign private issuer must provide and return. public under the laws of the jurisdiction in which the declarant is incorporated, domiciled or legally organized (the “country of origin of the declarant”), or under the rules of the stock exchange of the country of origin on which the securities of the declarant are traded, so long as the report or other material is not a press release, is not required to be and has not been distributed to securityholders of the registrant and, if it is is an important event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
INFORMATION CONTAINED IN THIS REPORT 6-K FORM
A copy of the press release from Grindrod Shipping Holdings Ltd. announcing the closing of the IVS block financing and IVS Phoenix Acquisition.
Exhibitions
99.1 Press release of September 17, 2021
SIGNATURES
In accordance with the requirements of the Securities Exchange Act of 1934, the declarant has duly caused this report to be signed on his behalf by the undersigned, duly authorized for this purpose.
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GRINDROD SHIPPING HOLDINGS LTD. |
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As of: September 17, 2021 |
/ s / Stephen Griffiths |
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Name: Stephen Griffiths |
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Title: Chief Financial Officer |
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Room 99.1
Grindrod Shipping Holdings Ltd. announces the closing of IVS block financing and IVS Phoenix Acquisition
Singapore, September 17, 2021: – Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or “Company” or “it” or “we”), a global provider of shipping services primarily to the dry bulk industry, announced the following operations .
September 15e, 2021, together with the previously announced acquisition of the remaining 31.14% stake in its joint venture IVS Bulk (“IVS Bulkâ€) and the simultaneous buyback of the IVS Bulk preferred shares on September 1, 2021, the Company closed on l ” increasing one of its existing IVS Bulk credit facilities to replace the working capital used to finance the transaction. The new debt is on the same terms as the existing facility.
September 16e, 2021, the Company has completed the acquisition and simultaneous financing of the 2019 Japanese-built ultramax bulk carrier IVS Phoenix. As previously reported, the vessel was already part of Grindrod Shipping’s base fleet and was initially chartered for a minimum period of three years from delivery with two one-year extensions and no purchase options. At closing, the company acquired the vessel for $ 23.5 million, which we believe reflects a significantly reduced price compared to management’s estimate of the vessel’s fair market value due to the termination. advance notice of the charter agreement in force. The Group has simultaneously entered into a financing agreement with a separate third party in Japan at attractive conditions for a net amount of $ 25.0 million. As part of the financing agreement, the Group will charter the bareboat vessel for a period of up to 15 years and has the right, but not the obligation, to acquire the vessel after the first two years of l ‘charter.
About Grindrod Shipping Holdings Ltd.
Grindrod Shipping operates a fleet of long-term and short-term dry bulk owned and chartered vessels, primarily in the handysize and supramax / ultramax segments. The dry bulk transport business, which operates under the brand name “Island View Shipping†(“IVSâ€), comprises a main fleet of 31 vessels consisting of 15 conveniently sized dry bulk carriers and 16 supramax dry bulk carriers. / ultramax. The Company also owns a medium-range tanker on bareboat charter. The company is headquartered in Singapore, with offices in London, Durban, Tokyo, Cape Town and Rotterdam. Grindrod Shipping is listed on the NASDAQ under the ticker “GRIN” and on the JSE under the ticker “GSH”.
Forward-looking statements
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 havens for forward-looking statements to encourage companies to provide forward-looking information about their activities. The Company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this caveat as part of such safe harbor legislation. The forward-looking statements contained in this press release are based on various assumptions, including, without limitation, management’s review of Grindrod Shipping 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, as these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the control of the Company, the Company can not assure you that it will meet or fulfill 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 public documents filed by Grindrod Shipping with the SEC. Except as required by law, Grindrod Shipping assumes no obligation to publicly update or publish revisions of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unforeseen events.
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Company details : |
Investor Relations / Media Contact: |
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Martyn Wade / Stephen Griffiths |
Nicolas Bornozis / Daniela Guerrero |
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CEO / CFO |
Capital Link, Inc. |
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Grindrod Shipping Holdings Ltd. |
230, avenue du Parc, office 1536 |
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200 Cantonment Road, # 03-01 Southpoint |
New York, New York 10169 |
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Singapore, 089763 |
Phone. : (212) 661-7566 |
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E-mail: [email protected] |
Fax: (212) 661-7526 |
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Website: www.grinshipping.com |
E-mail: [email protected] |
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Disclaimer
Grindrod Shipping Holdings Ltd. published this content on September 20, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 20, 2021 07:01:06 AM UTC.
