Baltic Exchange shareholders are set to receive a handsome windfall if they agree to the terms of the takeover by the Singapore Exchange (SGX) with many groups having built significant stakes.

Some 20% of the 377 shareholders who own 1,000 shares or more — a holding that would net £179,210 ($232,973).

The biggest beneficiary will be UK shipbroking group Clarksons which will net at least £10.2m