Ardmore files shelf

Ardmore Shipping Corporation is looking to raise fresh funds according to a financial disclosure to US regulatory authorities.
Anthony Gurnee, CEO of Ardmore Shipping.

Anthony Gurnee, CEO of Ardmore Shipping.

The US-listed tanker owner has filed a $300m shelf registration with the US Securities and Exchange Commission (SEC).

Ardmore said that when declared effective by the SEC, the registration statement will allow it to issue various types of securities, including common stock, preferred stock, debt securities, warrants or units..

“Although we do not have immediate plans for raising and using additional capital, we anticipate that a shelf registration will provide more efficient access to the capital markets and allow Ardmore to act opportunistically in support of our growth objectives,” said chief executive Anthony Gurnee.

“Our strategy is to continue to grow the company in an accretive manner and build long-term value for our shareholders, and we believe that filing a shelf registration is a prudent step in providing additional financial flexibility for Ardmore.”

Ardmore has thirteen vessels in operation and is currently awaiting delivery of a recently acquired vessel scheduled for August.

The Ireland-based shipowner also has ten Eco-design vessels under construction delivering in 2014 and 2015.

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