Genting sells remaining NCLH shares

Genting Hong Kong has received approval from its shareholders to dispose of the company’s remaining shares in Norwegian Cruise Line Holdings.

Through a number of secondary offerings, Genting HK has gradually reduced its stake in NCLH to 3,148,307 shares, or approximately 1.4%.

At a special general meeting on Friday, Genting HK shareholders approved a 12-month mandate for the company to dispose of the remaining NCLH shares.

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.

Source: FocusGamingNews