Created: Jun 19, 2024 04:04 PM
BW LPG very giant fuel provider BW Balder (File {photograph})
BW LPG Ltd, the Bermudian-incorporated liquefied petroleum fuel shipper, is a step nearer to transferring its place of incorporation to Singapore.
The corporate has been registered in Bermuda since 2008.
BW LPG is to petition the Supreme Court docket of Bermuda to sanction a scheme of association, which was accepted by the corporate’s shareholders at a gathering, that may discontinue the corporate in Bermuda and transfer it to Singapore.
That courtroom listening to is because of happen tomorrow morning.
If the scheme is sanctioned by the courtroom, it is going to grow to be binding on the corporate and its shareholders as soon as a replica of the courtroom order is filed with the Registrar of Firms in Bermuda.
The corporate mentioned it expects that the re-domiciliation will come into impact on or round July 1, topic to the sanction by the courtroom, the submitting of the courtroom order, the ultimate approval by the Singapore Accounting and Company Regulatory Authority and the satisfaction or waiver of all circumstances to the scheme.
BW LPG is related to BW Group, a world maritime firm concerned in delivery, floating infrastructure, deep-water oil and fuel manufacturing, and new sustainable applied sciences.
Based in 1955 by Sir YK Pao, BW controls a fleet of greater than 490 vessels transporting oil, fuel and dry commodities, with its 200 liquefied pure fuel and LPG ships constituting the most important fuel fleet on the planet.