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

Core Viewpoint - Grindrod Shipping Holdings Ltd. has received approval from the High Court of Singapore for a selective capital reduction, which will decrease its issued share capital and return cash to participating shareholders [2][6]. 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-in drybulk vessels [3]. - The company operates under the brand "Island View Shipping" and has a core fleet that includes handysize and supramax/ultramax drybulk carriers [3]. - Grindrod Shipping is headquartered in Singapore and has additional offices in London, Durban, and Tokyo [3]. Selective Capital Reduction Details - The selective capital reduction will reduce the company's issued share capital from US$290,193,001 to US$240,614,044, resulting in a cancellation of 3,479,225 shares [2][6]. - A total of US$49,578,956 will be returned to participating shareholders at a rate of US$14.25 per share cancelled [2][6]. Regulatory Compliance - The selective capital reduction will take effect upon the lodgement of the Court Order and other required documents with the Registrar of Companies in Singapore [9].