SOURCE: Dockwise Ltd

November 30, 2009 02:30 ET

Capital reduction and share consolidation in Dockwise - effective date

BREDA, THE NETHERLANDS--(Marketwire - November 30, 2009) -

Reference is made to the decision made by the special general meeting of shareholders of Dockwise Ltd. on 4 November 2009 to reduce the par value of the company's common shares to USD 0.25 by way of a capital reduction and to authorize the Board to give effect to a consolidation (or reverse stock split) of common shares on a 20:1 basis.

Both the capital reduction and the share consolidation will become effective on 2 December 2009. Consequently, trading in the company's common shares from and including 2 December 2009 is made on the basis of the 20:1 share consolidation. Following the capital reduction and the share consolidation, the new par value of each common share will be USD 5. The new lot size is expected to be 50 common shares.

If, as a result of this 20:1 share consolidation, a shareholder would otherwise be entitled to a fraction of a common share in respect of the total number of common shares held by such shareholder prior to the consolidation, no such fractional common shares will be awarded and the aggregate number of common shares that such shareholder is entitled to will be rounded down to the next closest whole number of common shares, with compensation in cash. Except for any change resulting from the rounding described above, the change in the number of common shares outstanding that would result from the share consolidation will not change the stated capital attributable to the common shares.

Further information:

Fons van Lith +31 76 5484116/+31 651 314 952

About Dockwise Ltd / Dockwise Group

Dockwise Ltd., a Bermuda incorporated, has a workforce of more than 1200 people both offshore and onshore. The company is the leading marine contractor providing total transport services to the offshore, onshore and yachting industries as well as installation services of extremely heavy offshore platforms. The Group is headquartered in Breda, The Netherlands. The Group's main commercial offices are located in The Netherlands, the United States, China, Korea, Australia, Brasil, Moscow, Singapore and Nigeria. The Dockwise Yacht Transport business unit is headquartered in Fort Lauderdale and has an office in Italy. The Dockwise Shipping network is supported by agents in Japan, Singapore, Spain, Norway, Argentina and Italy.

To support all of its services to customers, the group also has three additional engineering centers in Houston, Breda and Shenzhen, manufactures specific motion reduction equipment such as LMU (Leg Mating Units) and DMU (Deck Mating Units) and owns a fleet of 20 purpose built semi-submersible vessels.

Dockwise shares are listed on the Oslo Stock Exchange under ticker DOCK.

For further information:

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