Saudi Arabia International Maritime Industries (IMI) signed a Ship Purchase Agreement (VPA) with the National Shipping Company of Saudi Arabia (Bahri) and then a subcontract with South Korean shipbuilder Hyundai Heavy Industries (HHI) for the construction of a very large crude oil cargo ship (VLCC). The project award aims to further strengthen the business relationship between IMI and its shareholders and contribute to the development of a localized supply chain infrastructure for the maritime industry, technical know-how for Saudi nationals and a track record in the field of shipbuilding. DUBAI, United Arab Emirates, Sept. 17, 2019 /PRNewswire/ — International Maritime Industries (IMI) announced today that it has signed a Vessel Purchase Agreement (VPA) with Bahri, a global leader in logistics and transportation, and then a sub-contract with long-term partners Hyundai Heavy Industries, Co., Ltd. (HHI) to build a DWT class (1) 319,000 class crude oil freighter whose delivery is expected in October 2021. Other licensing, technical services and training agreements have also been signed with BWI to ensure skills development and knowledge transfer. This distinction further strengthens the business relationship between IMI and its shareholders and contributes to the development of a localized supply chain infrastructure for the maritime industry, technical expertise for Saudi nationals and a track record in the field of shipbuilding. Abdullah Aldubaikhi, CEO of Bahri, commented on the project award: “Bahri strives to play a decisive role in transforming the kingdom into an important regional and global logistics and transport hub. Bahri has explored new horizons of industrial cooperation in order to advance his vision. This project distinction, which further strengthens our strong strategic relationship with IMI and BWI, represents an important step in this direction; We are confident that it will intensify our ongoing efforts to improve our offering and strengthen our capabilities. We look forward to a fruitful collaboration that will benefit our customers and shareholders.” Other licensing, technical services and training agreements have also been signed with BWI to ensure skills development and knowledge transfer. Before the merger, Sanpaolo IMI`s equity amounted to 5,400,253,255.68 euros, 1,875,087,936 shares with a nominal value of 2.88 euros each, of which: no.
1,590,903,918 ordinary shares and no. 284,184,018 preferred shares. Banca Intesa`s shareholder base consisted of approximately 195,000 shareholders. Compagnia di San Paolo, Fondazione C.R. Padova e Rovigo e Fondazione C.R. Bologna was the subscriber of the agreement, also known as the “Pact of Unity of Intent”, which expires on 19 April 2007 and concerns 217,324,797 ordinary shares, i.e. 13.661% of the share capital and 11.590% of the total capital. The agreement followed and transmitted the “Memorandum of Understanding” signed by the foundations in 2001 and entrusted fondaco SGR with a total share of 15% of the ordinary capital.
In the absence of clear rules, the foundations undertook to act by mutual agreement and to set up a committee chaired by Ing. Giubergia to participate in the audit and share their common opinions on Sanpaolo IMI`s issues. Banco Santander Central Hispano e Caisse Nationale des Caisses d`Epargne (CNCE) has been the illustrator of consulting contracts with foundations that expired fifteen days before the date of the first convocation of the general meeting for the approval of the results of the year 2006 and contain other issues. . . .