May 04 2009 |
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Venture Capital Bank announces 9% annualized Dividends for Lemissoler Maritime Company W.L.L.
Abdullatif Moh'd janahi, Board Member & CEO.
Venture Capital Bank has announced the distribution of an annualized 9% dividend representing 4.5% for the 6 months ending 31st December 2008 to the investors of Lemissoler Maritime Company W.L.L. VCBank has successfully arranged a US$ 120 million private placement offering for Lemissoler Maritime Company in 2008 which was formed with the objective of owning and operating a diverse fleet of specialized commercial vessels.
"Lemissoler Maritime Company W.L.L. has achieved an excellent performance since its establishment through an initial fleet of five commercial vessels specialized in transportation of paper products", said Mr. Abdullatif Mohamed Janahi, Venture Capital Bank Chief Executive Officer. "Lemissoler has managed to exceed anticipated budget figures", Mr. Janahi said.
"A key development achieved by Lemissoler last year was the acquisition of another specialized paper-carrying vessel, that was chartered to Caribbean Forrest Carriers for seven years, in addition to acquiring three sister 2800 TEU container vessels chartered to Evergreen for five years", he added.
-Ends-
May Marzooq
Corporate Communications & Marketing
Tel: +973 17 518 872
Fax: +973 17 518 880
Email: marzooq@vc-bank.com
Fatima Rashid
Corporate Communications & Marketing
Tel: +973 17 518 859
Fax: +973 17 518 880
Email: frashid@vc-bank.com
© Press Release 2009
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