Svithoid Tankers in negotiations in order to secure financing and continued operations
Stockholm, 10 October 2008
As a consequence of Svithoid Tankers AB (publ) ("Svithoid Tankers") immediate liquidity
shortage, the company presently lacks the ability to perform under its undertakings. Therefore,
the company is involved in negotiations with its creditors, bond holders, convertible bond holders
and shareholders with the aim to find a long term solution in order to secure the company’s
financing and the continued operations of the business. There is a risk that Svithoid Tankers will
be unsuccessful in finding such a solution. The outcome of such discussions may also result in
the loss of value of shares currently held by the company’s shareholders. Svithoid Tankers
intends to present additional information as soon as the ongoing discussions have been finalized.
As a consequence of Svithoid Tankers AB (publ) ("Svithoid Tankers") immediate liquidity
shortage, the company presently lacks the ability to perform under its undertakings. Therefore,
the company is involved in negotiations with its creditors, bond holders, convertible bond holders
and shareholders with the aim to find a long term solution in order to secure the company’s
financing and the continued operations of the business. There is a risk that Svithoid Tankers will
be unsuccessful in finding such a solution. The outcome of such discussions may also result in
the loss of value of shares currently held by the company’s shareholders. Svithoid Tankers
intends to present additional information as soon as the ongoing discussions have been finalized.