Grindrod Shipping Holdings Ltd. Announces Court Approval in Respect of the Selective Capital Reduction

Core Viewpoint - Grindrod Shipping Holdings Ltd. has announced a selective capital reduction approved by the High Court of Singapore, reducing its issued share capital from US$290,193,001 to US$240,614,044, which involves the cancellation of 3,479,225 shares and returning US$49,578,956 to participating shareholders [5][9]. Company Overview - Grindrod Shipping is a global provider of maritime transportation services, primarily in the drybulk sector, operating a diversified fleet of owned and chartered vessels [10]. - The company is based in Singapore and has offices in London, Durban, and Tokyo, and is listed on NASDAQ and JSE [10]. Financial Details - The selective capital reduction will result in a cash return of US$14.25 per share to participating shareholders [9]. - The total number of ordinary shares will decrease from 19,685,590 to 16,206,365 as part of this capital reduction [5][6].