The Baltic Exchange and Singapore Exchange (SGX) have agreed to extend the period of exclusive discussions regarding an offer for the Baltic Exchange from 30 June 2016 to 31 August 2016.
The exclusivity agreement was signed on 25 May 2016 to allow the Baltic Exchange to consult with stakeholders and undertake discussions with SGX.
Over the past weeks the Baltic Exchange and SGX have together met with Baltic Exchange shareholders, members and panellists as well as the wider stakeholder community to discuss the potential transaction and have made good progress in consultations. The extension to the period of exclusivity allows this dialogue to continue.
About The Baltic Exchange Limited
The Baltic Exchange, founded in 1744, is an iconic name in global shipping and a successful, profitable business. Its diverse and international membership has grown to 650 companies; its information underpins the growing FFA market. The organisation has a strong balance sheet which includes a valuable property asset and an investment portfolio.