DHT signs LOI for three VLCCs from HHI

JANUARY 31, 20014 — DHT Holdings, Inc. (NYSE: DHT) says that it has entered into a letter of intent (LOI) with Korean shipbuilder Hyundai Heavy Industries Co., Ltd. for the construction of three additional VLCCs at a contract price of $97.3 million each, including $2.3 million in additions and upgrades to the standard specification, for delivery in September, October and November 2016.

Earlier, DHT Holdings, Inc. said it had entered into definitive agreements with investors to purchase an aggregate of 30,300,000 shares of its common stock at a price of $7.50 per share in a registered direct offering. Net proceeds to DHT are expected to be approximately $217 million after the payment of placement agent fees. DHT intends to use the net proceeds to fund the expansion of its fleet, its pending vessel acquisitions and shipbuilding contracts and for other general corporate purposes. The offering is expected to close on or about February 5, 2014, subject to customary closing conditions.