Dorian confirmed that it has received a revised unsolicited proposal from BW LPG to combine with Dorian. Under the revised proposal, Dorian shareholders would receive 2.12 shares of BW LPG forneach share of Dorian.
BW LPG’s initial proposal was made on May 29, 2018. The Dorian Board of Directors unanimously declined the proposal on June 15, 2018 citing Dorian’s younger, more fuel efficient
ships; its superior commercial performance; its stronger balance sheet; and lack of shareholder benefit from the dual listing that BW LPG proposed.
The Board of Directors of Dorian will review BW LPG’s revised proposal in consultation with its financial and legal advisers. No assurance can be given that any transaction will occur.