Announces Secondary Offering of Ordinary Shares
GRINDROD SHIPPING HOLDINGS LTD.
ABBREVIATED NAME: GRINSHIP
Registered in Singapore with registration number 201731497H
JSE Share code: GSH
Primary listing on NASDAQ Global Select Market
Secondary listing on the JSE Main Board
Grindrod Shipping Holdings Ltd. Announces Secondary Offering of Ordinary Shares
Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or "Company" or “it” or “we”),
a global provider of maritime transportation services predominantly in the drybulk sector, announced the
pricing of the underwritten public secondary offering of 1,841,962 ordinary shares in the Nasdaq Global Select
Market by certain existing shareholders of the Company (the “Selling Shareholders”) at a public offering price
of $13.50 per share, for an aggregate purchase price of $24,866,487. The Offering is expected to close on
September 27, 2021, subject to customary closing conditions. The Selling Shareholders will receive all of the
proceeds from the Offering. Grindrod Shipping is not selling any of its ordinary shares in the Offering and will
not receive any proceeds from the Offering.
Jefferies is acting as sole book-running manager for the Offering. Noble Capital Markets, Inc. is acting as co-
manager for the Offering.
The Offering was made pursuant to the Company’s existing effective shelf registration statement on Form F-3,
including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on August 23,
2021 and a related prospectus supplement for the Offering. Prospective investors should read the prospectus
supplement and base prospectus in that registration statement and other documents the Company has filed or
will file with the SEC for more complete information about the Company and the proposed offering. When
available, copies of the prospectus relating to and describing the terms of the proposed Offering may be
obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd
Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and
shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About Grindrod Shipping Holdings Ltd.
Grindrod Shipping operates a fleet of owned and long-term and short-term chartered-in drybulk vessels
predominantly in the handysize and supramax/ultramax segments. The drybulk business, which operates under
the brand “Island View Shipping” (“IVS”), includes a Core Fleet of 31 vessels consisting of 15 handysize drybulk
carriers and 16 supramax/ultramax drybulk carriers. The Company also owns one medium range product tanker
on bareboat charter. The Company is based in Singapore, with offices in London, Durban, Tokyo, Cape Town and
Rotterdam. Grindrod Shipping is listed on NASDAQ under the ticker “GRIN” and on the JSE under the ticker
The statements in this press release that are not historical facts may be forward-looking statements. The Private
Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in
order to encourage companies to provide prospective information about their business. The Company desires
to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe harbor legislation. The forward-looking
statements in this press release are based upon various assumptions, including, without limitation, Grindrod
Shipping management's examination of historical trends, data contained in the Company's records and other
data available from third parties. Although the Company believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant uncertainties and contingencies which
are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you
that it will achieve or accomplish these expectations, beliefs or projections. These forward-looking statements
involve risks and uncertainties that could cause actual results to differ materially from those discussed in the
forward-looking statements. These risks and uncertainties include, among others, those discussed in Grindrod
Shipping's public filings with the SEC. Except as required by law, Grindrod Shipping undertakes no obligation to
update publicly or release any revisions to these forward-looking statements to reflect events or circumstances
after the date of this press release or to reflect the occurrence of unanticipated events.
Company Contact: Investor Relations / Media Contact:
Martyn Wade / Stephen Griffiths Nicolas Bornozis / Daniela Guerrero
CEO / CFO Capital Link, Inc.
Grindrod Shipping Holdings Ltd. 230 Park Avenue, Suite 1536
200 Cantonment Road, #03-01 Southpoint New York, N.Y. 10169
Singapore, 089763 Tel.: (212) 661-7566
Email: firstname.lastname@example.org Fax: (212) 661-7526
Website: www.grinshipping.com Email: email@example.com
By order of the Board
23 September 2021
Sponsor: Grindrod Bank Limited
Date: 23-09-2021 07:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.