Costamare Partners Gives Up on IPO Plans

first_imgzoom Athens-based containership owner Costamare Partners LP, a wholly-owned subsidiary of Costamare Inc, cancelled its plans for an initial public offering (IPO) on Monday citing poor market conditions.Costamare Partners LP, a growth master limited partnership (MLP) carved out of Costamare to own four modern containerships, has dismissed its attempt of raising up to USD 100 million in an IPO as the company withdrew its plans on November 6, according to Nasdaq.The funds were designated for paying off the four containerships, contributed to the company by Costamare Inc, as well as acquiring an additional 11 identified vessels and certain other rights to acquire additional containerships with long-term charters from Costamare and US-based York Capital Management.Costamare Partners company was founded in 2014 and booked USD 59 million in sales for the 12 months ended June 30, 2015. The company is formed to own, operate and acquire containerships under long-term, fixed-rate charters, charters of five full years or more.As of June 30, 2015, Costamare Partners’ initial fleet of four containerships had an average capacity of approximately 9,000 TEU and an average remaining charter term (weighted by TEU capacity) of approximately 5.7 years.Image: MSClast_img read more

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Timeline of events leading up to key UK Supreme Court ruling

LONDON — Britain’s Supreme Court is set to rule Tuesday on whether Prime Minister Boris Johnson’s five-week suspension of Parliament was legal. Here’s how we got here.July 24, 2019: Boris Johnson becomes prime minister after winning a party leadership contest to succeed Theresa May. He vows to leave the European Union on Oct. 31, with or without a deal.August 28: Johnson suspends Parliament for a five-week period ending Oct. 14. Queen Elizabeth II approves his request, as she is required to do under Britain’s constitutional monarchy. He says it is a routine decision to set the stage for announcement of his new domestic agenda, but House of Commons Speaker John Bercow calls it a “constitutional outrage.”August 29: Activist Gina Miller launches legal action against Johnson at the High Court in London. Her case is subsequently joined by former prime minister John Major and others.August 30: In a separate case, a judge in Scotland refuses to grant an emergency measure blocking the suspension of Parliament but schedules a full hearing at a later date.September 4: The Court of Session in Scotland rejects the bid to have the suspension declared unlawful.September 5: The High Court in London hears Miller’s case against the suspension. Her lawyers argue the move was an “unlawful abuse of power” by the prime minister.September 6: The High Court in London rejects Miller’s case. She vows to take it to the Supreme Court.September 11: The Inner House of the Court of Session in Scotland rules that the suspension was illegal and was intended to “stymie” Parliament ahead of the Brexit deadline.September 17: A three-day hearing on both cases begins at the Supreme Court, with 11 justices presiding.September 24: The Supreme Court is scheduled to announce its decision.The Associated Press read more

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