Grindrod Shipping Holdings Ltd. Announces Voluntary Delisting from Nasdaq Global Select Market

Core Viewpoint - Grindrod Shipping Holdings Ltd. intends to voluntarily delist its ordinary shares from the NASDAQ Global Select Market as part of a proposed Selective Capital Reduction, which will take effect on August 16, 2024 [1][2]. Company Actions - The Selective Capital Reduction will result in the cancellation of all ordinary shares held by shareholders, except for those held by Good Falkirk (MI) Limited [2]. - Each Participating Shareholder will receive US$14.25 per Participating Share as part of the Selective Capital Reduction [3]. - The company plans to file a Form 25 with the Securities and Exchange Commission on August 16, 2024, to effect the delisting, which will be effective before the opening of NASDAQ on August 26, 2024 [3]. Company Overview - Grindrod Shipping predominantly operates a diversified fleet of owned and chartered-in drybulk vessels, including handysize and supramax/ultramax carriers under the brand "Island View Shipping" [4]. - The company is based in Singapore, with additional offices in London, Durban, and Rotterdam, and is listed on NASDAQ under the ticker "GRIN" and on the JSE under the ticker "GSH" [4].