IMSK - Termination of market maker agreement

Dienstag, 29.12.2015 08:00

IMSK - Termination of market maker agreement

I.M. Skaugen SE (IMSK) has since May 2011 had a "market maker agreement" with SEB with the purpose to provide more and better liquidity for our many smaller shareholders. The ambition has been to offer some assistance to enable these to sell or buy smaller lots of shares, and by this increase the turnover and tighten the spreads of the IMSK shares. 

 IMSK and SEB has now agreed to terminate this "market maker agreement". We are in a process of evaluating if such liquidity arrangements has had and will have the desired effect to warrant the additional cost for the company.

 SEB will until 29th of February perform its obligations under the agreements in place.

Oslo, 29th December 2015

I.M. Skaugen SE

If you have any questions, please contact:

Bente Flø, Chief Financial Officer, on telephone +47 23 12 03 00 /+47 91 64 56 08
or by e-mail: bente.flo@skaugen.com.

This press release is also available on the Internet at our website: www.skaugen.com.

I.M. Skaugen SE is a Norway based Marine Transportation Service Company, with a focus on Innovative Maritime Solutions. Our core business activity is to provide logistics solutions for seaborne regional distribution of liquefied gasses such as LNG, petrochemical gases, ethane as well as LPG.
The Skaugen Group of companies currently operates a fleet of 15 advanced gas carriers. In this fleet we have 6 innovative and unique vessels with the capacity to transport LNG in addition to petrochemical gases and LPG. We recruit, train and employ our own team of seafarers.
IMS employs approximately 500 team members globally and with nearly 30 nationalities represented. We manage and operate our activities and service our clients from our offices in Singapore, Oslo and Houston.


 
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: I. M. Skaugen SE via Globenewswire

HUG#1976010