| KDM Shipping Public Limited (the “Company") hereby informs that on 12 June 2013 the Company received from KM Management Limited - company wholly owned and controlled by Mr. Kostiantyn Molodkovets, a notification pursuant to Art. 69 of the Act of Trading in Financial Instruments and section 28 of the Cyprus Transparency Law, informing that as of 11 June 2013 the total number of shares and votes held by KM Management Limited decreased by 15.04%. According to the notification, on 11 June 2013 KM Management Limited sold 2,000,000 Company's shares. The shares were disposed as a apart of the private placement of the Company's shares addressed to a limited number of investors, organized by the Company and the Shareholder. Prior the transaction KM Management Limited had 5,100,000 shares and votes in the Company, constituting 69.9% of the Company's share capital and the total number of votes in the Company. After the transaction, the Shareholder had 3,100,000 shares in the Company, constituting 43.5% of the Company's share capital and representing 3,100,000 votes at the general meeting, constituting 43.5% of the total number of votes in the Company. Proceeds from the sale of shares have been used to subscribe by KM Management Limited for the same number of newly issued shares in the Company as the number of shares sold by him. On 11 June 2013, as reported by the Company in its current report no 22/2013, the Company's share capital has been increased. As a result of the increase, KM Management Limited acquired 2,000,000 newly issued Company's shares and possess 5,100,000 shares in the Company, constituting 54.86% of the Company's increased share capital and representing 5,100,000 votes at the general meeting, constituting 54.86% of the total number of votes in the Company. As a result of the transactions described in the notification received from KM Management Limited, which took place on 11 June 2013, total number of shares and votes held by KM Management Limited remained at the same level, but the percentage of the share capital and a total number of votes decreased from 69.9% to 54.86%, i.e. decreased by 15.04%. | |
