04 July 2025 - Stainless Tankers ASA (the "Company", ticker: "STST") is pleased
to announce that it has successfully entered into an agreement for the sale of
the 2008-built J19 stainless steel chemical tanker, Gwen, for a total gross
amount of $16.16 million (the "Disposal"). The vessel is scheduled for delivery
to its buyer around the end of July 2025. This represents the Company's third
strategic divestment, and following the Disposal, the Company's fleet will
consist of six J19 stainless steel chemical tankers.
In line with the Company's commitment to maximising shareholder value, the Board
intends to return capital to shareholders after the vessel has been delivered to
its buyer. Given the continuing geopolitical uncertainties, the Board will
determine the amount of a special dividend to be made taking into account
upcoming fleet capex and working capital requirements together with mandatory
bank debt prepayment obligations.
Contact:
Andrew Hampson, CEO: andrew.hampson@tufton.com
Irene Michael, CFO: irene.michael@tufton.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) Article 7 and is subject to the disclosure
requirements pursuant to section 5-12 the Norwegian Securities Trading Act. This
stock exchange announcement was published by Irene Michael, CFO of Stainless
Tankers ASA, on 04 July, 2025 at 13:45 CEST on behalf of Stainless Tankers ASA.
About Stainless Tankers:
Stainless Tankers ASA (ticker code "STST") is a shipping company specialized in
providing seaborne transportation of chemical cargoes worldwide. The Company
provides investors with pure-play stainless steel chemical tanker exposure in an
investor friendly structure through its fleet of seven stainless steel vessels,
each with an approximate total carrying capacity of 20,000dwt. The fleet is
managed by Tufton, with a primary focus on maximizing earnings and distributing
excess operating cashflows to shareholders. For more information, please visit
www.stainlesstankers.com.