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we stayed up in a down market, not bad IMO.
Have you folks read this 20F? Man, looks like it's set to explode in production and income. Expansionn on mining etc.
We should see increasing revenues, hopefully earnings, all sorts of good stuff.
This is the most promising thing i hold currently LOL.
They hit alot of canadian companies with this. I bet uncle sam is shaking them down for cash using the market.
As of right now on the graph I see everyone stacking sales at a buck. The ask is packed with shares.
Means nothing I suppose, but imo looks like holders are holding. If traders see trending north they will ride it pulling more cash into this sending it north of a buck.
I'm holding for divi and long term gains. I personally think well be ok. But hey my other big investment I thought was a sure thing just kicked me in the balls yesterday lol. Meh, don't let may market worry you, smell the flowers outside.
Same on etrade today. Yesterday it was CALVF. Interesting, winner what that means? E moving up the scale? The ask is higher, I'll have to check market depth.
Agreed
I think it's ihub. Ticker is same, i can't find any reference to symbol changes.
May need to alert Admin to fix the page??
Yes, they have 6 months. But not all R/S are bad. Look at Revlon when they did it. Worked well for them.
That's ok, my other stock I though should do well was cut 13% this morning on what I felt good news on earnings.
What can you say other than the old adage, sell in may and go away lol.
Hey Tina! I hope things improve for you and you enjoy yourself.
Dam if UNTD didn't cut this morning after good earnings... wtf.. nothing wrong with the company LOL. I'll hold till after the Divi... i'm at least taking that away from this LOL.
It's good for us, basically many african nations are wanting to nationalize precious metals and screw the shareholders that started those operations. At least we kept our feet in the door.
Your opinion is as likely to be correct sir. Either way, we make bank and that's all that matters. Best of luck to you sir.
hello folks.
DHT and UNTD both blew their earnings out of the water. Hope they break and run in the morning.
possible, i'm banking on a fast drop in the morning then a turn north. Something just tells me that the big traders are using their shares to attempt to set off stop loss orders to put the screws to the nervous holders.
But, it's the market. It could gap and run. We'll see.
analyst estimates i am seeing through my broker software shows that the cumulative earnings expected for the entire year of 2012 is .07
We blew that out of the water the 1st qtr.
Nice
Salute!
I've never cried about having to pay the tax man lol
The divy cut will force some sellers. They probably want the 15% return and will dump in the morning. 10% is still more than enough reason for anyone to want to buy this stock at this price which to me a stock with a 5% yield to price is considered fair value to me.
So IMO, minimum price for this stock should be around 1.60 at fair value according to my willingness to buy.
STRONG BUY!
lol, i'm reading 2 that are out today. UNTD beat expectations by .04, i thought it was this one. my apologies.
L2 stacks up like this
BID
NSDQ .7303 X 900
NDSQ .7302 X 1000
ARCA .73 X 10k
NSDQ .71 X 600
NSDQ .69 X 25k
EDGX .62 X 500
ASK
ARCA .822 X 1400
NDSQ .849 X 1000
NDSQ .888 X 1200
EDGX .98 X 2000
NSDQ 1.24 X 3300
NSDQ 1.25 X 10K
NSDQ 4.47 X 180
NSDQ 5.7 X 269
that's all i can see at the moment folks
This will pick up Bob, i've faith in this. The new shares that were sold went to the london market so that should have no affect on us correct?
I need my partners here. damn them.
anyone here using Etrade Pro or have access to the time and sales info and other goodies?
Time and Sales stamps for the day are showing me .83 trades that i do not see on the regular market stuff. Can someone explain this to me? I've not used alot of those tools in depth for trading but i'm starting to broaden my horizons lol.
WAHOOO! NEWS is out on Etrade PRO! WE ROCKED!
EPS of .10
Divi cut to .02 (i'm not liking that, but it'll likely help share price anyway)
_______
DHT Holdings, Inc. Reports Profitable First Quarter and Strengthened Balance Sheet ST. HELIER, CHANNEL ISLANDS, May 02, 2012 (MARKETWIRE via COMTEX) -- DHT Holdings, Inc. (DHT) ("DHT" or the "Company") today announced: Financial and operational highlights: USD mill. (except per share) Q1 2012Q4 2011Q3 201120112010 --------- --------- --------- --------- --------- Revenue28.325.326.6100.189.7 EBITDA15.013.113.652.751.6 Adjusted Net Income*6.93.72.914.86.1 Adjusted EPS*0.110.060.050.240.13 --------- --------- --------- --------- --------- Interest bearing debt267.4280.6299.7280.6265.2 Cash29.642.645.442.658.6 Dividend**0.020.030.030.260.40 --------- --------- --------- --------- --------- Fleet (dwt)2,574,304 2,574,304 2,574,304 2,574,304 1,659,802 Spot days***17%17%17%13%0 Unscheduled off hire***0.30%0.41%0.17%0.27%1.69% Scheduled off hire***0.64%2.48%4.39%1.90%0 --------- --------- --------- --------- --------- * adjusted for loss on sale of vessel, impairment and non-cash swap relateditems ** per common share *** as % of total operating days in period Highlights of the quarter: --EBITDA of $15.0 million, net income of $6.3 million and EPS of $0.10. The company will pay a dividend of $0.02 per common share and $3.40 per preferred share for the quarter payable on May 23, 2012 for shareholders of record as of May 16, 2012. --During the quarter we had two VLCCs in the Tankers International Pool generating an average time charter equivalent earnings ("TCE") of $23,067 per day. The 10 other vessels were on time- and bareboat charters during the quarter. --DHT strengthened its balance sheet through the equity offering backstopped by a fund managed by Anchorage Capital Group, L.L.C. ("Anchorage"), a New York based investment firm with approximately $10.0 billion under management, and a concurrent private placement generating total net proceeds of approximately $76.5 million in May 2012. A portion of the proceeds will be used to prepay debt, including repaying all scheduled installments on two of our loans through 2014, thereby creating a clear runway for DHT over the next few years. The balance will be available for growth and general corporate purposes. --The equity offering expired on April 27, 2012 and closed on May 2, 2012. 58% of the offered shares were subscribed for by DHT's shareholders. Including the private placement, Anchorage will have an ownership of approximately 32% in DHT after the offering. Judd Arnold from Anchorage has been appointed as a director of the Company. In a statement, Anchorage commented: "We are excited to partner with DHT and its excellent management team. This transaction will create one of the most well capitalized companies in the tanker sector with the ability to both weather the downturn, and also grow through it. We look forward to building upon our relationship with DHT in the future." --In connection with the equity offering, DHT will reduce its DVB and DNB facilities by a combined $13.6 million, prepaying all scheduled installments through 2014. --Following the agreement made with the Royal Bank of Scotland ("RBS") in Q4 2011, the company repaid $12 million under its credit facility with RBS during the first quarter. A fleet appraisal conducted subsequent to March 31, 2012 identified a value-to-loan ratio of 110% while the ratio required under the credit facility is 120%. The Company expects to remedy the shortfall during the second quarter of 2012. --The VLCC DHT Regal was redelivered from its charterer in March 2012 and commenced its third special survey and dry-dock. The vessel will enter the Tankers International Pool upon completion of the special survey and dry-dock. --The Aframax Overseas Rebecca, which was redelivered from its charterer in April 2012, has been sold. A loss of $0.9 million in connection with the sale has been recorded in the first quarter 2012. The proceeds from the sale will be used to further reduce the outstanding debt under the RBS credit facility. --The Aframax Overseas Ania is expected to be redelivered from its charterer in May 2012 and the company is considering various alternatives including disposal. First Quarter 2012 Results The Company reported revenues for the first quarter of 2012 of $28.3 million. Our vessels were on-hire 99.7% for the quarter. This does not include planned off-hire during the quarter related to special survey and dry-dock. The DHT Regal commenced its third special survey and dry-dock on March 24, 2012. Vessel operating expenses for the quarter were $6.8 million. Charter hire expense for the quarter was $2.4 million related to the charter in of the Venture Spirit. Depreciation and amortization, including depreciation of capitalized dry docking costs, was $7.0 million for the quarter. G&A for the quarter was $3.2 million. The G&A for the quarter includes non- cash charge related to restricted share agreements for our management and board of directors, cash incentive compensation related to 2010 and 2011 and a high level of activity during the quarter in connection with the equity offering. Net financial expenses were $1.8 million for the quarter including a net non-cash gain on interest rate swaps of $0.1 million We had net income for the first quarter of 2012 of $6.3 million or $0.10 per diluted share. After adjusting for non-cash financial items related to interest rate swaps and loss on sale of vessel, net income for the quarter was $6.9 million or $0.11 per diluted share. Net cash provided by operating activities for the quarter was $3.6 million, down from $10.6 million in the first quarter of 2011 and was impacted by increased working capital mainly for bunkers related to the DHT Phoenix and Venture Spirit operating in the spot market and bunkers purchased relating to the redelivery of the DHT Regal. Operating cash flow[1] in the first quarter of 2012 excluding the $12 million debt repayment under the RBS credit facility was $12.7 million, or $0.20 per share. At the end of the first quarter of 2012, our cash balance was $29.6 million. In connection with the backstopped equity offering, we entered into agreements to amend the credit agreements with DVB and DNB. The agreements were amended whereby, upon satisfaction of certain conditions, including the prepayment of $6.7 million and $6.9 million, respectively, until December 31, 2014, (i) the "Value-to-Loan Ratio will be lowered from 130% to 120%; and (ii) the margin on the loans are increased by 0.25% to 3.00% and 2.75%, respectively. As of March 31, 2012, the amounts to be repaid per the amended credit agreements have been classified as current portion of long term interest bearing debt. We declared a cash dividend of $0.02 per common share and $3.40 per preferred share for the first quarter payable on May 23, 2012 for shareholders of record as of May 16, 2012. [1] Operating cash flow after debt service represents the sum of net income, amortization of unrealized loss of interest rate swaps, fair value (gain)/loss on derivative financial instrument, depreciation and amortization, impairment charge, (gain)/loss on sale of vessels and repayment of long term debt. Please refer to the table for reconciliation between net income and operating cash flow after debt service. EARNINGS CONFERENCE CALL INFORMATION DHT will host a conference call at 8:00 a.m. EDT Thursday May 3, 2012 to discuss the results for the quarter. All shareholders and other interested parties are invited to join the conference call, which may be accessed by calling 1 646 254 3367 within the United States, 23500486 within Norway and +44 207 136 2054 for international callers. The passcode is "DHT". A live webcast of the conference call and a slide presentation will be available in the Investor Relations section on DHT's website at http://www.dhtankers.com. An audio replay of the conference call will be available through May 9, 2012. To access the replay, dial 1 347 366 9565 within the United States, 21000498 within Norway or +44 207 111 1244 for international callers and enter 4258230# as the pass code. DHT Holdings, Inc. plans to report its next quarterly earnings as follows: Q2 2012 on Tuesday July 24, 2012 Q3 2012 on Tuesday October 23, 2012 About DHT Holdings, Inc. DHT is an independent crude oil tanker company operating a fleet of six VLCCs, two Suezmaxes and three Aframaxes. Six of the vessels are on time charters, two are on long-term bareboat charters and three are operating in the Tankers International Pool. For further information: http://www.dhtankers.com. The equity offering referred to in this press release was conducted pursuant to an existing effective registration statement on Form F-3 filed with the Securities and Exchange Commission ("SEC"). The offering was made only by means of a prospectus supplement to the prospectus dated October 3, 2011 set forth in the registration statement. Copies of the registration statement, prospectus and prospectus supplement may be obtained for free by accessing the SEC's website at http://www.sec.gov or by calling or emailing Georgeson Inc., the information agent for the offering, toll-free at 1-888- 566-3252 or dht@georgeson.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Forward Looking Statements This press release contains assumptions, expectations, projections, intentions and beliefs about future events, in particular regarding daily charter rates, vessel utilization, the future number of newbuilding deliveries, oil prices and seasonal fluctuations in vessel supply and demand. When used in this document, words such as "believe," "intend," "anticipate," "estimate," "project," "forecast," "plan," "potential," "will," "may," "should" and "expect" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These statements reflect the Company's current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. These forward-looking statements represent the Company's estimates and assumptions only as of the date of this press release and are not intended to give any assurance as to future results. For a detailed discussion of the risk factors that might cause future results to differ, please refer to the Company's Annual Report on Form 20-F, filed with the Securities and Exchange Commission on March 19, 2012. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur, and the Company's actual results could differ materially from those anticipated in these forward-looking statements. Reconciliation of non-IFRS financial measures ($ in thousands except shares and per share amounts) 20122011 Jan. 1Jan. 1 -March-March 31, 201231, 2011 UnauditedUnaudited Net Income6 2514 014 Amortization of unrealized loss of interest rate swaps133466 Fair value (gain)/loss on derivative financial instrument(301)(716) Gain/loss, sale of vessel860 ------------ ------------ Net Income adjusted for non-cash financial itemsand gain/loss on sale of vessel6 9433 764 ------------ ------------ Weighted average number of shares (diluted)64 459 14757 599 218 Net Income adjusted for non-cash financial items and gain/loss on sale of vessel per share0.110.07 Net income6 2514 014 Amortization of unrealized loss of interest rate swaps133466 Fair value (gain)/loss on derivative financial instruments(301)(716) Depreciation and amortization7 0096 753 Gain/loss, sale of vessel860 Repayment of long term Debt(13 234) ------------ ------------ Operating cash flow after debt service71810 517 ------------ ------------ Operating cash flow after debt service per share0.010.18 DHT HOLDINGS, INC. UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF MARCH 31, 2012 DHT HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION ($ in thousands except per share amounts) ASSETSMarch 31,December 31, Note20122011 Current assetsUnauditedAudited Cash and cash equivalents$29 58342 624 Accounts receivable87 3495 021 Prepaid expenses1 8321 783 Bunkers1 032- Asset held for sale7 514- ------------ ------------ Total current assets47 31049 428 ------------ ------------ Vessels5440 720454 542 Other property, plant and equipment538533 Other long term receivables654 ------------ ------------ Total non-current assets488 573504 557 ------------ ------------ ------------ ------------ Total assets488 573504 557 ------------ ------------ LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable and accrued expenses6 3635 243 Derivative financial instruments42 9673 422 Current portion long term interest bearing debt413 57816 938 Deffered shipping revenues1128 357 ------------ ------------ Total current liabilities23 02033 960 ------------ ------------ Non-current liabilities Long term interest bearing debt4253 834263 632 Derivative financial instruments4-178 Other non-current liabilities303340 ------------ ------------ Total non-current liabilities254 138264 150 ------------ ------------ Total liabilities277 158298 110 ------------ ------------ Stockholders' equity Common stock6,7641640 Paid-in additional capital6,7309 052308 727 Retained earnings/(deficit)(97 854)(102 164) Other components of equity(424)(756) ------------ ------------ Total stockholders equity211 415206 447 ------------ ------------ ------------ ------------ Total liabilities and stockholders' equity488 573504 557 ------------ ------------ DHT HOLDINGS, INC. CONDENSED CONSOLIDATED INCOME STATEMENT ($ in thousands except per share amounts) 1Q 20121Q 2011 Jan. 1 -Jan. 1 - March 31,March 31, Note20122011 UnauditedUnaudited Gross revenues$28 29922 269 Operating expenses Voyage expenses-(1 299) Vessel expenses(6 837)(6 434) Charter hire expense(2 379) Depreciation and amortization5(7 009)(6 753) Gain/loss, sale of vessel(860)- General and administrative expenses(3 181)(2 437) ------------- ------------ Total operating expenses$(20 266)(16 923) ------------- ------------ Operating income$8 0335 346 ------------- ------------ Interest income942 Interest expense(1 958)(1 600) Fair value gain/(loss) on derivative financial instruments4301250 Other Financial income/(expenses)(133) ------------- ------------ Profit/(loss) before tax$6 2514 038 ------------- ------------ Income tax expense-(24) ------------- ------------ Net income/(loss) after tax$6 2514 014 ------------- ------------ Attributable to the owners of parent$6 2514 014 Basic net income per share0.100.07 Diluted net income per share0.100.07 Weighted average number of shares (basic)64 459 14757 544 595 Weighted average number of shares (diluted)64 459 14757 599 218 CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Profit for the period$6 2514 014 Other comprehensive income: Reclassification adjustment from previous cash flow hedges369466 ------------- ------------ Total comprehensive income for the period$6 6204 480 ------------- ------------ Attributable to the owners of parent$6 6204 480 ------------- ------------ DHT HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW ($ in thousands) 20122011 Jan. 1 - Jan. 1 - Mar.Mar. 31, Note31, 20122011 UnauditedUnaudited Cash Flows from Operating Activities: Net income$6 2514 014 Items included in net income not affecting cash flows: Depreciation and amortization57 0966 800 Gain/loss, sale of vessel5860 Amortization related to interest and swap expense(301)(250) Deferred compensation related to options and restricted stock281221 Changes in operating assets and liabilities: Accrued charter hire, prepaid expenses and receivables(2 329)(821) Accounts payable, accrued expenses and prepaid charter hire(7 142)588 Bunkers(1 103) ------------------------- Net cash provided by operating activities$3 61310 552 ------------------------- Cash Flows from Investing Activities: Decrease/(increase) in vessel acquisitions deposits-(1 200) Investment in vessels(1 529)(55 102) Investment in property, plant and equipment43(371) ------------------------- Net cash used in investing activities$(1 486)(56 673) ------------------------- Cash flows from Financing Activities Issuance of common stock6,7-67 540 Cash dividends paid7(1 934)(4 892) Issuance of long term debt4-27 088 Repayment of long-term debt4(13 234) ------------------------- Net cash provided by/(used) in financing activities$(15 168)89 736 ------------------------- Net increase/(decrease) in cash and cash equivalents(13 041)43 615 Cash and cash equivalents at beginning of period42 62458 569 ------------------------- Cash and cash equivalents at end of period$29 583102 184 ------------------------- Specification of items included in operating activities: Interest paid1 9191 481 Interest received943 DHT HOLDINGS, INC. SUMMARY CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY ($ in thousands except shares) Unaudited CommonCash StockPaid-inRetainedFlowTotal Additional NoteSharesAmountCapitalEarningsHedgesequity Balance at January 1, 201148 921 961 $487240 537(42 188) (2 495) 196 341 Total comprehensive income(40 272)1 73938 533) Cash dividends declared and paid7(19 704)(19 704) Issue of common stock6 15 425 30015467 29467 448 Compensation related to option and restricted stock103 501896896 ---------- ------- ---------- --------------------- Balance at December 31, 201164 450 762641308 727 (102 164)(756) 206 448 ========== ======= ========== ===================== Balance at January 1, 201264 450 762 $641308 727 (102 164)(756) 206 448 Total comprehensive income6 2513696 620 Cash dividends declared and paid7(1 934)(1 934) Issue of common stock44 39300 Compensation related to option and restricted stock281281 ---------- ------- ---------- --------------------- Balance at March 31, 201264 495 155641309 008(97 847)(387) 211 415 ========== ======= ========== ===================== NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED MARCH 31, 2012 Note 1 - General information DHT Holdings, Inc. ("DHT" or the "Company") is a limited company incorporated under the laws of the Marshall Islands whose shares are listed on the New York Stock Exchange. The Company's principal executive office is located at 26 New Street, St. Helier, Jersey, Channel Islands. The Company's principal activity is the ownership and operation of a fleet of crude oil carriers. Our strategy is to employ our vessels in a combination of charters with stable cash flow and market exposure. The financial statement were approved by the Board of Directors on May 1, 2012 and authorized for issue on May 2, 2012. Note 2 - General accounting principals The condensed consolidated interim financial statements do not include all information and disclosure required in the annual financial statements and should be read in conjunction with DHT's audited consolidated financial statements included in its Annual Report on Form 20-F for 2011. The condensed financial statements have been prepared in accordance with IAS 34 "Interim Financial Reporting" as issued by the International Accounting Standards Board ("IFRS"). The condensed financial statements have been prepared on a historical cost basis, except for derivative financial instruments that have been measured at fair value. The accounting policies that have been followed in these condensed financial statements are the same as presented in the 2011 audited consolidated financial statements. The Board confirms that these interim financial statements have been prepared on a going concern basis. Changes in accounting policy and disclosure New and amended standards, and interpretations mandatory for the first time for the financial year beginning January 1, 2011 but not currently relevant to the group (although they may affect the accounting for future transactions and events). The adoption did not have any effect on the financial statements; --Revised IAS 24 (revised), 'Related party disclosures', issued in November 2009. Effective January 1, 2011. --Classification of rights issues' (amendment to IAS 32), issued in October 2009. The amendment applies to annual periods beginning on or after February 1, 2010. --IFRIC 19, 'Extinguishing financial liabilities with equity instruments', effective July 1, 2010. --Prepayments of a minimum funding requirement' (amendments to IFRIC 14). The amendments correct an unintended consequence of IFRIC 14, 'IAS 19 - The limit on a defined benefit asset, minimum funding requirements and their interaction'. --Annual Improvements project, The improvement project is an annual project that provides a mechanism for making necessary but non urgent amendments in several standards. Note 3 - Segment reporting Since DHT's business is limited to operating a fleet of crude oil tankers, management has organized the entity as one segment based upon on the service provided. Consequently, the Company has one operating segment as defined in IFRS 8, Operating Segments. The Company's vessels carry crude oil only. The Company's management manages the Company's operations as one business segment. Entity-wide disclosures: Information about major customers: As of March 31, 2012, nine of the Company's 12 vessels are on charter, pursuant to either time charters or bareboat charters, of which eight vessels are on charter to wholly-owned subsidiaries of Overseas Shipholding Group, Inc. ("OSG") and one vessel is on charter to a wholly-owned subsidiary of Frontline, Ltd. The charters' payments under the charters are a major source of revenue for the Company. Two vessels are operating in the Tankers International Pool and one vessel is expected to enter the Tankers International Pool upon completion of its third special survey and dry-dock in April 2012. Note 4 - Interest bearing debt As of March 31, 2012, DHT had interest bearing debt totalling $268,687,500 of which $164,555,555 is priced at Libor+0.70%, $47,444,445 is priced at Libor+0.85%, $25,062,500 is priced at Libor+2.75% and $31,625,000 is priced at Libor+2.50%. Interest is payable quarterly in arrears. As of March 31, 2012, the Company had one interest rate swap in an amount of $65,000,000 under which DHT pays a fixed rate of 5.95% including margin of 0.85%. From January 1, 2009 the Company has discontinued hedge accounting on a prospective basis. Derivatives are re-measured to their fair value at each balance sheet date. The resulting gain and loss is recognized in profit or loss. The Company's credit agreements contain a financial covenant related to the charter-free market value of the Company's vessels that secure the obligations under the credit facilities. With regards to the credit agreement with the Royal Bank of Scotland totaling $212,000,000 the charter free value (broker valuations) of the vessels that secure the obligations under this credit facility shall at all times be above 120% of the outstanding debt under the loan plus the actual or notional cost of terminating the interest rates swap. In order to stay in compliance with this covenant, the Company made a prepayment of $12,000,000 in the first quarter 2012. With regards to the credit agreement related to the DHT Phoenix totaling $25,062,500 and DHT Eagle totaling $31,625,000 entered into in the first half of 2011, the charter free value of the vessel shall at all times be above 130% of the outstanding debt under the respective loans. These two credit facilities also contain financial covenants related to each of the borrowers as well as DHT on a consolidated basis. On March 7, 2012, we entered into agreements to amend the credit agreements with DVB and DNB. The agreements were amended whereby, upon satisfaction of certain conditions, including the prepayment of $6.7 million and $6.9 million, respectively, until and including December 31, 2014, (i) the "Value-to-Loan Ratio will be lowered from 130% to 120%; and (ii) the margin on the loans are increased by 0.25% to 3.00% and 2.75%, respectively. As the two amendments are expected to become effective upon the completion of the ongoing equity offering (expected in early May), DHT have obtained temporary covenant waivers from both DVB and DNB. As of March 31, 2012, the amounts to be prepaid per the amended credit agreements have been classified as current portion of long term debt. Scheduled debt repayments (USD million) April 1 to Dec. 31, 20122013201420152016ThereafterTotal -------------- ----- ------ ------ ------ ----------- ------ RBS--13,236,336,3126,2212,0 DVB6,7--2,415,9-25,1 DNB6,9--2,522,3-31,6 -------------- ----- ------ ------ ------ ----------- ------ Total13,6-13,241,274,5126,2268,7 -------------- ----- ------ ------ ------ ----------- ------ Note 5 - Vessels and Vessel Acquisitions The carrying values of our vessels may not represent their fair market value at any point in time since the market prices of second-hand vessels tend to fluctuate with changes in charter rates and the cost of constructing new vessels. Historically, both charter rates and vessel values have been cyclical. The carrying amounts of vessels held and used by us are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a particular vessel may not be fully recoverable. The Company has performed an impairment test using the "value in use" method as of March 31, 2012. In assessing "value in use", the estimated future cash flows are discounted to their present value. In developing estimates of future cash flows, we must make assumptions about future charter rates, ship operating expenses, the estimated remaining useful lives of the vessels and the discount rate. These assumptions are based on current market conditions, historical trends as well as future expectations. Although management believes that the assumptions used to evaluate potential impairment are reasonable and appropriate, such assumptions are highly subjective. The impairment test has not resulted in an impairment charge in the first quarter. The impairment test has been performed using an estimated weighted average cost of capital ("WACC") of 8.47%. On March 28, 2012 we entered into an agreement to sell the Overseas Rebecca for $8.1 million. The vessel is expected to be delivered in May 2012 and as of March 31, 2012, the vessels has been classified as "Asset held for sale". A loss of $0.9 million in connection with the sale has been recorded in the first quarter 2012. Note 6 - Equity Offering In February 2011, DHT issued a total of 15,425,300 shares of common stock with par value of $0.01 per share for total net proceeds of $67,540,343 after underwriting discount and expenses amounting to $4,187,302. Note 7 - Stockholders equity and dividend payment Common stockPreference stock --------------- --------------- Issued at December 31, 201164 450 7620 Par value$ 0.01$ 0.01 Numbers of shares authorized for issue at December 31, 2012125 000 0001 000 000 --------------- --------------- Common stock: Each outstanding share of common stock entitles theholder to one vote on all matters submitted to a vote of stockholders. Preference stock: Terms and rights of Preference shares will be established by the board when or if such shares would be issued. Dividend payment: Dividend payment as of March 31, 2012: Payment date:Total paymentPer share --------------- --------------- February 7, 2012$ 1.9 million$0.03 --------------- --------------- Total payment as of March 31, 2012:$ 1.9 million$0.03 --------------- --------------- Dividend payment 2011: Payment date:Total paymentPer share --------------- --------------- February 11, 2011$ 4.9 million$0.10 May 10, 2011$ 6.4 million$0.10 August 4, 2011$ 6.4 million$0.10 November 15, 2011$ 1.9 million$0.03 --------------- --------------- Total payment as of December 31, 2011:$ 19.7 million$0.33 --------------- --------------- Note 8 - Accounts receivable Accounts receivable as of March 31, 2012 and December 31, 2011 mainly relates to working capital for the DHT Phoenix and Venture Spirit operating in the Tankers International Pool. Note 9 - Financial risk management, objectives and policies Note 9 in the 2011 annual report on Form 20F provides for details of financial risk management objectives and policies. The Company's principal financial liabilities consist of long term debt and derivatives. The main purpose of these financial liabilities is to finance the Company's operations. The Company's financial assets mainly comprise cash. The Company is exposed to market risk, credit risk and liquidity risk. The Company's senior management oversees the management of these risks. Note 10 - Subsequent Events On May 1, 2012 the Board of Directors approved a dividend of $0.02 per common share and $3.40 per preferred share related to the first quarter 2012 to be paid on May 23, 2012 for shareholders of record as of May 16, 2012. On March 19, 2012, DHT announced a backstopped equity offering and a concurrent private placement both of which will allow DHT to raise equity capital through the sale of shares of common stock and preferred stock generating about $76.5 million in net proceeds after expenses. The equity offering proceeds will be used to prepay certain debt under DHT's existing credit facilities and provide DHT with the capital to pursue vessel acquisition and other growth opportunities. The offering is backstopped by a fund managed by Anchorage Capital Group, L.L.C. ("Anchorage"). The equity offering commenced on April 2, 2012 and expired on April 27, 2012. The offering closed on May 2, 2012 and 58% of the offered shares were subscribed for by DHT's shareholders. Including the private placement, Anchorage will have an ownership of approximately 32% in DHT after the offering. Judd Arnold from Anchorage has been appointed as a director of the Company. CONTACT: Eirik Uboe, CFO Phone: +44 1534 639 759 and +47 412 92 712 E-mail: Email Contact SOURCE: DHT Holdings, Inc. http://www2.marketwire.com/mw/emailprcntct?id=BFFC3BADDFC4EB14 Copyright 2012 Marketwire, Inc., All rights reserved. Story ID: 1074255302 Keywords: ACCOUNTING, ACQUISITION, ANNUAL REPORT, BANK, BROKER, BUSINESS, CONFERENCE, CORPORATE, CRUDE OIL, DEBT, DEFICIT, DIVIDEND, DIVIDENDS, EARNINGS, EBITDA, EMAIL, E-MAIL, EPS, EQUITY, EXECUTIVE, FINANCE, INVESTMENT, LAW, MARKET, NEW_YORK, NORWAY, NOTE, NYSE, OIL, PLANT, POLICY, PRICES, PRIVATE PLACEMENT, PROFIT, PROPERTY, RATES, REVENUE, SCOTLAND, SEC, SECURITIES, SHIP, SHIPPING, STANDARDS, TAX, WEATHER Symbols: DHT
Looks like market open? This is from the company website. I look for good things! If this opens tumbling, i'm going to BUY BUY BUY.
Q1 2012 DHT Holdings Inc Earnings Conference Call
Thursday, May 03, 2012, 2:00 pm CEST / 8:00 am EDT
Please register to access this webcast
agreed bob!
will do thank you. Etrades news service messed it up. They have contridicting information.
DHT Holdings, Inc. to Announce First Quarter Results on May 3, 2012
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5:36 AM ET 4/26/12 | Marketwire
DHT TO ANNOUNCE FIRST QUARTER RESULTS ON MAY 3, 2012
DHT Holdings, Inc. (NYSE: DHT) will release its first quarter 2012 earnings after market close on Wednesday May 2, 2012 and will host a conference call at 8:00 a.m. (EST) on Thursday May 3, 2012 to discuss the results for the quarter. Individuals can access the call by dialing 1 646 254 3367 within the United States, 23500486 within Norway and +44 207 136 2054 for international callers. The passcode is "DHT". A live webcast of the conference call will be available in the Investor Relations section on DHT's website at http://www.dhtankers.com.
A replay of the call will be available shortly after the call ends, through May 9, 2012. To access the replay, dial 1 347 366 9565 within the United States, 21000498 within Norway or +44 207 111 1244 for international callers and enter 4258230# as the pass code.
About DHT Holdings, Inc. ("DHT")
DHT operates a fleet of 12 double-hull crude oil tankers, of which 11 are wholly owned by the company. The fleet consists of six VLCCs, two Suezmax tankers and four Aframax tankers. Eight of the vessels are on medium-term time charters, two are on long-term bareboat charters and two are operating in the Tankers International Pool. For further information: www.dhtankers.com.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DHT Holdings, Inc. via Thomson Reuters ONE [HUG#1606299]
Contact:
DHT Holdings, Inc.
Eirik Uboe
+47 23115091
+47 412 92 712
Email Contact
Email Contact
SOURCE: DHT Holdings, Inc.
http://www2.marketwire.com/mw/emailprcntct?id=CD4917F649B7E7C1
http://www2.marketwire.com/mw/emailprcntct?id=C04F938377C37CF4
Interesting, etrade news says 3rd. Let me get tablet or laptop and see if I can cross post it
Me too, thoght earnings were today
Not yet, but soon im sure
Lol, I do hold a position. I told you I was not square with the market in this aka long.
I am not argumentative but you have slung arrows at me repeatedly lol. You have given me and everyone reading this excellent information. But everyone can make their own conclusions about us both.
Best of luck to you.
Lol. I like you, even if I think you are a bit of a blowhard. You might be surprised what I know :)~.
I also do not disclose my holdings other than all you need to know is that I am not squared in this position, aka long.
I typically trade big board stocks 5 and up with 15% of my portfolio in big board pennies. Divi payers. Bob informed me of this, I did my dd and liked what I saw, this is the only pink I hold.
don't piss like a pup if you want to run with the big dogs.
My man! I hear ya!
Don't underestimate the big boys. Hold your nose, this will take a dive as they unload the new shares to take what immediate profit they can. If they can incite a panic and it dips below .7 they will load their own boats.
I've got mad cash waiting if it happens. These are trade games, but this at your price for the long term. Don't let immediate drops worry you.
I bought for the yield and the future growth of this stock and company. IMO, we will be fine. I purchased today at .77x to see how long it took to fill. It took a bit to get there, sip not many sellers at that time.
I'm keeping cash on the side, I'll buy the slide.
Great job at a deflection, now simply answer my questions please sir. I know that the company only has common shares issued and outstanding, there are not any preferred shares with super duper voter rights. Due to this fact, as hair brained as i think your "shareholder union" is i do have to acknowledge that if you have the voter power behind you its actually possible although you would need a great majority of the canadian shares to vote your way.
Also, how long anyone posts on a board has nothing to do with what they do or do not know.
according to a news article i found the analyst say that DHT should be one of the fastest earnings growers in the industry. I posted the article here.
Yes indeed, I had 2 securities do this lol
Rofl, just what I want for leadership in a company I own... An internet poster from raging bullshit (RB).
I'd rather they post here where folks are properly governed.