Genting dumps NCLH shares
Genting Hong Kong has voted to sell all of its remaining shares in Norwegian Cruise Line Holdings Ltd. over the next 12 months.
China.- Last Friday, Genting Hong Kong shareholders voted and approved the disposal of all of the company’s remaining shares in Norwegian Cruise Line Holdings Ltd. (NCLH) in order to look into new investments. 99 per cent of the shareholders decided to begin a disposal process to be carried out over the next 12 months in which the company will sell its 3.15 million shares (1.4 per cent stake).
The investors on the Malaysian conglomerate Genting Berhad subsidiary agreed to set the minimum selling price to be US$43.86 per share or higher. Once the sale is completed profits “will be used as general working capital and capital expenditure for the group and/or to fund new investments, should suitable opportunities arise.”
In addition to the NCLH share disposal, shareholders approved a final dividend of US$0.01 per ordinary share, as well as the payment of Directors’ fee of US$308,000 (in aggregate) for the year ending December 31, 2017.
The company is set to focus on business operations and looks forward to meeting the growing demands of the Chinese market, Lim Kok Thay, Genting HK’s chairman and CEO, said.
