The following is a company announcement issued by AST Group p.l.c. (the “Company”) bearing company registration number C 66811, in terms of the rules of Prospects MTF, a market regulated as a multi-lateral trading facility and operated by the Malta Stock Exchange.
Group Restructuring
QUOTE
The Company wishes to announce that the AST Group (as defined in the Company Admission Document dated 4 December 2017) is in the process of affecting a group restructuring. The Company has recently incorporated a new company, AST Green Shipping Limited, having company registration number C 104938 (hereinafter “AST Green”), which is wholly owned by the Company, and it is the intention to have AST Green hold all of the companies of the AST Group carrying out the shipping operations of the AST Group.
In view of the planned restructuring, AST Green shall acquire the shares held by the Company in each of DS Shipping Ltd (C 68664), DS Chartering Ltd (C 85825) and AST Shipping Limited (C 83011) from the Company, in exchange for shares issued and allotted in AST Green.
Pursuant to the foregoing share exchange, the pledge held by GVZH Trustees Limited as Security Trust of the AST Trust, in terms of the Company Admission Document and the Security Trust Documents (as defined in the Company Admission Document), over the issued share capital in AST Shipping Limited and pledged by the Company, shall be released and repledged immediately by AST Green as the new pledgor, in favour of GVZH Trustees Limited as Security Trust of the AST Trust.
The Company further confirms that all documentation pertaining to the foregoing restructuring has been dully submitted for registration with the Malta Business Registry.
UNQUOTE
Katia Cachia
Company Secretary
31st March 2023
