Reference is made to the press release issued by Philly Tankers AS on 10 August 2015 announcing the transaction between its wholly-owned U.S. subsidiary, Philly Tankers LLC, and a subsidiary of Kinder Morgan, Inc. The Extraordinary General Meeting (EGM) of the shareholders of Philly Tankers AS referenced in that press release was held on 2 September 2015. At the EGM, shareholders accounting for 87.21% of the shares in the company voted to approve the transaction and the transaction is now formally approved by the company's shareholders.
About Philly Tankers:
Philly Tankers was established in June 2014 to provide major oil companies and other end-users with modern tonnage and offer investors pure play exposure toward the Jones Act tanker space. Philly Tankers is listed on the Norwegian OTC and is majority-owned by Aker Philadelphia Shipyard ASA, a leading U.S. commercial shipyard constructing vessels for operation in the Jones Act market.