Dockwise Seeks Court Authorisation To Convene Fairstar Shareholders Meeting

7/4/2012 3:17 AM ET

Dockwise Ltd (DOCKF.PK) Wednesday announced that the company, through its wholly-owned subsidiary, Dockwise White Martin B.V., has requested the Rotterdam court for authorisation to convene an extraordinary shareholders meeting of Fairstar Heavy Transport N.V. to appoint three independent directors to the Fairstar Supervisory Board in addition to the two current members.

It may be noted that Dockwse had, on various occasions proposed to Fairstar to discuss the appointment of three new and independent Supervisory Board members. Fairstar has consistently rejected this proposal and refused to meet with the proposed candidates.

Dockwise had requested the Court to intervene and advise on the convening of the shareholders meeting of Fairstar, following Fairstar's unwillingness to discuss and follow-up on the governance proposal of Dockwise.

Dockwise, which presently holds a 83.4% stake in Fairstar, has further urged that company to reconsider its position.

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by RTT Staff Writer

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