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Dear valued customers,
On May 19th, Hanjin Shipping held its “HanjinShipping 78” bond warrant holders’ meeting and the resolution of rescheduling the repayment of “Hanjin Shipping 78” was approved.
Repayment of the bond is rescheduled from May 23rd2016 to Sept 23rd2016 and Hanjin Shipping will promptly proceed with the relevant court procedures. The bond holders will be given an option to receive the principal and the interest amounts in the form of treasury stocks according to the bond holders’ choice.
As to the approval of the bond repayment reschedule, Hanjin Shipping expects improvement of short-term liquidity and its debt ratio in case the bond holders receive the treasury stocks.
The approval of the bond holders’ repayment schedule clearly shows that bond holders have a strong trust in financial stabilization of Hanjin Shipping and that it is possible soon. Once again, we believe that this decision has been made upon all customers’ long-term trust in us and we will put all our strength to maintain the trust with all our customers and to stabilize our financial status.
Also, as announced on May 13th 2016, Hanjin Shipping will provide more unique and reliable services through “THE Alliance” and will diligently carry on our additional liquidity plans in order to achieve the stabilization of current situation as soon as possible.
Tai-Soo Suk
President & CEO
Hanjin Shipping Co., Ltd.
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