Fairstar Heavy Transport N.V.
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Publicatie datum
23 dec 2011 - 19:47
Statutaire naam
Fairstar Heavy Transport N.V.
Titel
Fairstar receives letter from Oceanus
Bericht
Fairstar Heavy Transport N.V. (FAIR) has received a letter from Oceanus International Investment AS (Oceanus) dated December 20 2011 and addressed to the Chairman of the Supervisory Board and the Chief Executive Officer. Oceanus is the owner of a Fairstar competitor, Offshore Heavy Transport, as well as the owner of shares in Fairstar. The Oceanus letter is critical of Fairstar’s financial performance in 2011. The letter is critical of Management. The letter alleges Offshore Heavy Transport is a superior company to Fairstar and challenges the viability of the Fairstar “Red-Box” strategy. The letter contains a variety of misleading statements and lacks significant factual support. The letter mirrors statements made by Oceanus at the Fairstar 2011 AGM which are recorded, along with Fairstar’s response, in the Minutes of the Meeting published on the Fairstar website. The Joint Supervisory and Management Boards of Fairstar remain highly suspicious of the motives of Oceanus. Nevertheless, in the interests of proactive corporate governance, the Joint Supervisory and Management Board has invited representatives of Oceanus to meet with the Company in January.
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