StockMarketWire.com - Shipping group Tufton Oceanic Assets said it would convert its C shares into ordinary shares in the company.

The decision came after the company invested or committed to invest $68.5m of the proceeds of its C Share fundraising from October 2018.

That represented around 90% of the net proceeds of the C share issue.

In the absence of unforeseen circumstances, the company said it expected the calculation date to be 31 December 2018.

The conversion ratio was expected to be announced on or around 31 January 2019, together with the expected date when the conversion would occur and the number of new shares to be issued.


At 8:26am: [LON:SHIP] Tufton Oceanic Assets Limited Ord Npv share price was 0p at 1.06p



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