Grindrod Shipping Holdings Ltd. Announces Court Approval in Respect of the Selective Capital Reduction
SINGAPORE, July 17, 2024 (GLOBE NEWSWIRE) — Grindrod Shipping Holdings Ltd. (NASDAQ:GRIN) (JSE: GSH) (“Grindrod Shipping” or “Company” or “we” or “us” or “our”), a global provider of maritime transportation services predominantly in the drybulk sector, today announced that the High Court of the Republic of Singapore has approved the proposed selective capital reduction of the Company (the “Selective Capital Reduction”) pursuant to Section 78G of the Companies Act 1967 of Singapore (the “Companies Act”), by which the Company will reduce the issued share capital of the Company from US$290,193,001, comprising 19,685,590 ordinary shares of the Company (“Shares”), to US$240,614,044 comprising 16,206,365 Shares. The Selective Capital Reduction will be effected by: