EXTENSION OF SUBSCRIPTION PERIOD
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Singapore, 1 July 2015
Private Placement totaling US$ 50 million directed towards existing shareholders – Extension of Subscription Period
Reference is made to the press release dated 17 June 2015 regarding the Private Placement of 22,222,222 new shares to existing holders in Epic Gas Ltd. (the “Company”) (the “Private Placement”). The Board of the Company has resolved to extend the subscription period to 16:00 CET on Friday 10 July 2015.
As a consequence of the extended subscription period, it is expected that allocation and notification of payment will be sent to subscribers on 13 July 2015. Payment and delivery of shares is expected to take place on or about 16 July 2015.
The Private Placement will be fully subscribed by affiliates of Jefferies Capital Partners, DVB Shipping and Intermodal Investment Management Fund II, New Dynamo Ltd. (founding shareholders of Epic Shipping), and Archipelago Holdings (affiliate of Diamantis Pateras Maritime Ltd.), collectively defined as the “Founders”.
The Company has retained Clarksons Platou Securities AS as manager for the Private Placement. To date, the manager has received subscriptions for shares in excess of the total size of the offering.
About Epic Gas
Epic Gas owns and operates a fleet of fully pressurised gas carriers providing seaborne services for the transportation of liquefied petroleum gas and petrochemicals. The company controls a fleet of 45 vessels which serve the international supply chains of leading oil majors and commodity trading houses throughout Asia, Europe, Africa and the Americas.
Epic Gas Ltd.
Cullen Schaar, +65 6230 7801
Interim Chief Financial Officer