Private placement in Ocean Yield

Ocean Yield is my largest investment in public traded companies. On the 31 August they did a private placement of 862 MNOK. A total of 13,462,857 shares have been added.The new investors got their shares at 64 nok a share. This will lead to more shareholders to share the dividends, so all things equal, this results in a smaller dividend pr share. But OCY is growing rapidly, and I believe they have found a new investment oppertunity. So they needed cash fast. OCY has very good management, and have done good deals before. Combined with Jens Ismar’s (board member) purchase of 10 000 shares, I believe the long term prospects of this share is very good. OCY will take delivery of 7 vessels in Q3, 4 in Q4, and 3 in Q1 17. This will further add dividend capacity.

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