UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------------------------------
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment #2)
MC Shipping Inc.
(Name of Issuer)
Common Stock, $0.01 Par Value
(Title of Class of Securities)
55267Q 104
(CUSIP Number)
Andrea Columbo Michael Lloyd
Navalmar (UK) Limited 5-7 St. Helen's Place
Beulah Hall London EC3A 6AU
3 Beulah Road United Kingdom
Wimbledon +44 (0)20 7920 9666
London SW19 3SB
United Kingdom
+44 0208-540-8777
(Name, Address and Telephone Numbers of Person
Authorized to Receive Notices and Communications on Behalf of Filing Persons)
with copies to:
Stuart Neuhauser, Esq.
Ellenoff Grossman & Schole LLP
370 Lexington Ave, 19th Floor
New York, New York 10017
(212) 370-1300
(212) 370-7889 Facsimile
October 5, 2005
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box. [ ]
---------------------------------------- -------------------------------------- --------------------------------------
CUSIP No. 55267Q 104 13D Page 9
(Common Stock)
---------------------------------------- -------------------------------------- --------------------------------------
1 NAMES OR REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Navalmar
(UK) Limited
---------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
---------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC/BK
---------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
---------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United Kingdom
------------------------- -------- -----------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF None
SHARES -------- -----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,580,744
EACH -------- -----------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH None
-------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,580,744
---------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,580,744
---------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------- -----------------------------------------------------------------------------------------------------------
13 PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
52.53%
---------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
---------- -----------------------------------------------------------------------------------------------------------
---------------------------------------- -------------------------------------- --------------------------------------
CUSIP No. 55267Q 104 13D Page 9
(Common Stock)
---------------------------------------- -------------------------------------- --------------------------------------
1 NAMES OR REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Navalmar
Transportes Maritimos LDA
---------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
---------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC/BK
---------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
---------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Portugal
---------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF None
SHARES -------- -----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,580,744
EACH -------- -----------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH None
-------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,580,744
---------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,580,744
---------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------- -----------------------------------------------------------------------------------------------------------
13 PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
52.53%
---------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
---------- -----------------------------------------------------------------------------------------------------------
---------------------------------------- -------------------------------------- --------------------------------------
CUSIP No. 55267Q 104 13D Page 10
(Common Stock)
---------- -----------------------------------------------------------------------------------------------------------
1 NAMES OR REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) CO.FI.PA
SpA
---------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
---------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC/BK
---------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
---------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Italy
---------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF None
SHARES -------- -----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,580,744
EACH -------- -----------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH None
-------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,580,744
---------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,580,744
---------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------- -----------------------------------------------------------------------------------------------------------
13 PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
52.53%
---------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
---------- -----------------------------------------------------------------------------------------------------------
---------------------------------------- -------------------------------------- --------------------------------------
CUSIP No. 55267Q 104 13D Page 11
(Common Stock)
---------------------------------------- -------------------------------------- --------------------------------------
1 NAMES OR REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Enrico
Bogazzi
---------- -----------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)
(b)
---------- -----------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- -----------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC/BK
---------- -----------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e)
---------- -----------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Italy
---------- -----------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF None
SHARES -------- -----------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,580,744
EACH -------- -----------------------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH None
-------- -----------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
4,580,744
---------- -----------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,580,744
---------- -----------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
---------- -----------------------------------------------------------------------------------------------------------
13 PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
52.53%
---------- -----------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
---------- -----------------------------------------------------------------------------------------------------------
Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, the
Reporting Persons (as enumerated in Item 2) have agreed to file one statement
with respect to their ownership of common stock of MC Shipping Inc. The Joint
Filing Agreement among the Reporting Persons is attached as Exhibit 1 hereto.
This joint Schedule 13D/A of the Reporting Persons is hereinafter referred to as
the "Statement."
Item 1. Security and Issuer
The Statement relates to the common stock, par value $0.01 per share, of MC
Shipping Inc. (the "Common Shares"), a Liberian corporation with its principal
executive offices located at 24, avenue de Fontvieille, 98000 Monaco.
Item 2. Identity and Background
Item 2 (a) - (c) and (f) below is hereby amended and restated by (each a
"Reporting Person" and, collectively, the "Reporting Persons") as follows:
Navalmar (UK) Limited, with its principal offices at Beulah Hall, 3 Beulah Road,
London SW19 3SB (+44 (0) 208-540-4065), is a UK company which owns and operates
a fleet of vessels and offers various liner services worldwide.
Navalmar Transportes Maritimos LDA, with its principal offices at Rua Dos Murcas
15, Sala G, 2nd Andar, 9000 Funchal (Madeira) Portugal (+3 51 291 238565), is a
Portuguese company which owns and operates a fleet of vessels.
CO.FI.PA SpA, (formerly known as Bogazzi Fimpar SpA), with its principal offices
at Via Cadorna 49/A, 54036, Marina di Carrara, Italy (+390 585-631665), is an
Italian holding company that beneficially owns approximately 74% of Navalmar
(UK) Limited and approximately 74% of Navalmar Transportes Maritimos LDA.
Enrico Bogazzi, an Italian citizen with his principal office at Via Cadorna
49/A, 54036, Marina di Carrara, Italy (+390 585-631665), is the majority
shareholder and a director of CO.FI.PA SpA. Enrico Bogazzi is also a director of
B Navi SpA, a ship management company, and Vittorio Bogazzi & Figli SpA, a ship
agency company.
The directors and executive officers of the Reporting Persons are set forth on
Schedule I attached hereto. Schedule I sets forth the following information with
respect to each such person: (i) name, (ii) business address; (iii) present
principal occupation or employment and the name, principal business and address
of any corporation or other organization in which such employment was conducted
and (iv) citizenship.
(d) - (e) During the last five years, neither the Reporting Persons nor, to the
best of the knowledge of the Reporting Persons, any person named in Schedule I
attached hereto has been (a) convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors) or (b) a party to any civil
proceeding of a judicial or administrative body of competent jurisdiction and as
a result of such proceeding was or is subject to a judgment, decree or final
order enjoining them from future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws, or finding any
violation with respect to such laws.
6
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is amended and restated as follows:
As described under Item 4 below, V. Investments Limited and Navalmar (UK)
Limited entered into a sales agreement (the "Sales Agreement") with Vlasov
Investment Corporation (the "Seller"), an indirect wholly owned subsidiary of
Securitas Holding Corporation, a Liberian corporation, to purchase in aggregate
4,168,000 Common Shares in consideration of US$2.76 per Common Share, totaling
US$11,503,680 (the "Purchase Price"). Of these 4,168,000 Common Shares,
1,946,456 were purchased by V. Investments Limited for US$5,372,215.56 and
2,221,544 were purchased for US$6,131,464.44 by Navalmar (UK) Limited.
At completion on 13 May 2004, Navalmar (UK) Limited funded its entire portion of
the Purchase Price with cash provided by a loan from its shareholders. V.
Investments Limited funded its portion of the Purchase Price with cash provided
by its shareholders in two separate payments to the Seller. V. Investments
Limited made an initial payment to the Seller of US$2,500,000 in cash (the
"First Payment") at the time of the closing of this transaction on 13 May 2004.
This First Payment was funded by loans made to V. Holdings Limited, of which V.
Investments Limited is a wholly owned subsidiary, from the shareholders of V.
Holdings Limited, which include Greysea Limited and Close Securities Limited. V.
Investments Limited was obligated under the terms of the Sales Agreement to pay
the balance of the consideration due, which comprised US$2,872,215.56, (the
"Second Payment") no later than 15 May 2005, with an additional 5% interest due
on such balance. As of the date of this filing, the Second Payment was paid in
full.
As described under Item 4 below, Navalmar Transportes Maritimos has agreed to
purchase 1,780,000 shares of MC Shipping from V. Investments Limited for an
aggregate purchase price of US$16,020,000. On October 5, 2005, Navalmar
Transportes Maritimos funded the purchase price with a combination of owned
liquid assets and a partial contribution of borrowed funds in the amount of
US$5,000,000 to be repaid in equal installments over five years at LIBOR plus.
Item 4. Purpose of the Transaction
Item 4 is amended and restated as follows:
On May 4, 2004, Navalmar (UK) Limited and V. Investments Limited (the
"Purchasers") finalized the Sales Agreement to purchase the 4,168,000 Common
Shares owned by Vlasov Investment Corporation, an indirect wholly owned
subsidiary of Securitas Holding Corporation, a Liberian corporation.
The Purchasers agreed to pay Vlasov Investment Corporation US$2.76 per Common
Share, which totaled US$11,503,680. Under the terms of the Sales Agreement, half
of the Purchase Price was payable no later than May 15, 2004, with the balance
of the Purchase Price payable no later than May 15, 2005. As described in Item 3
above, Navalmar (UK) Limited paid the entire amount of consideration due the
Seller for the 2,221,544 Common Shares it purchased from the Seller on May 13,
2004, the date of closing of the transaction. V. Investments Limited paid the
First Payment to the Seller on May 13, 2004, the date of closing of the
transaction. As of the date of this filing, the Second Payment was paid in full.
On August 16, 2005, Navalmar Transportes Maritimos LDA, a sister company to
Navalmar (UK) Limited, entered into a transaction for the purchase of 1,780,000
shares of MC Shipping from V. Investments Limited at a price of US$9 per share.
Under the Heads of Terms, Navalmar Transportes
7
Maritimos LDA agreed to pay a total amount of US$16,020,000 to V. Investments
Limited. The sale was consummated on October 5, 2005. Under the terms of the
agreement, if Navalmar Transportes Maritimos LDA resells any of the shares
within twelve months after the date of completion of the transaction, it will
split in half the proceeds in excess of US$9 per share between itself and V.
Investments Limited.
The purpose of this transaction is to acquire a majority stake in the ship
owning company and to assist in this capacity in its development. Navalmar
Transportes Maritimos LDA is affiliated with a group of major ship-owning
companies with extensive and successful experience in ship-owning and operations
with over 20 years experience in the industry. Taken together the group believes
they have a strong position in and understanding of the shipping industry. The
parties have no current plans to alter the composition of the MC Shipping board
of directors.
Item 5. Interest in Securities of the Issuer
Item 5 is amended and restated as follows:
(a) - (b), Navalmar (UK) Limited, Navalmar Transportes Maritimos LDA, CO.FI.PA
SpA, and Enrico Bogazzi may be deemed to have shared beneficial ownership of
4,580,744 Common Shares, which represents approximately 52.53% of the common
stock outstanding (based on 8,913,658 Common Shares outstanding).
(c). Not applicable.
(d). Not applicable.
(e). Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
Except as described herein, neither Reporting Person nor, to the best of the
Reporting Persons' knowledge, any of the persons named in Schedule I hereto has
any contracts, arrangements, understandings or relationships (legal or
otherwise) with any persons with respect to any securities of MC Shipping Inc.,
including, but not limited to, transfers or voting of any securities, finder's
fees, joint ventures, loan or option arrangements, puts or calls, guarantees or
profits, division of profits or loss, or the giving or withholding of proxies.
1. Heads of Terms between V. Investments Limited, and Navalmar Transportes
Maritimos LDA.
2. Loan Agreement by and between Banco Popular and Navalmar Transportes
Maritimos LDA (filed herewith)
3. Facility Agreement by and between Banco Popular Italiana Societa
Cooeperativa, London Branch and Navalmar Transportes Maritimos LDA(filed
herewith)
See Items 3 and 4.
Item 7. Material to be filed as Exhibits
1. Joint Filing Agreement dated October 5, 2005 by and among Navalmar (UK)
Limited, Navalmar Transportes Maritimos LDA, CO.FI.PA SpA, and Enrico Bogazzi.
(filed herewith)
8
2. Heads of Terms between V. Investments Limited and Navalmar Transportes
Maritimos LDA dated August 16, 2005 (Incorporated by reference to Schedule 13D/A
filed on August 19, 2005, File No. 0001144204-05-026366)
3. Loan Agreement by and between Banco Popular and Navalmar Transportes
Maritimos LDA (filed herewith)
4. Facility Agreement by and between Banco Popular Italiana Societa
Cooeperativa, London Branch and Navalmar Transportes Maritimos LDA(filed
herewith)
9
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Navalmar (UK) Limited
Dated: October 5, 2005
By: /s/ Andrea Colombo
-----------------------------------
Name: Andrea Colombo
Title: Director
Navalmar Transportes Maritimos LDA
Dated: October 5, 2005
By: /s/ Andrea Colombo
-----------------------------------
Name: Andrea Colombo
Title: Director
CO.FI.PA SpA
Dated: October 5, 2005
By: /s/ Enrico Bogazzi
-----------------------------------
Name: Enrico Bogazzi
Title: Director
Dated: October 5, 2005
By: /s/ Enrico Bogazzi
-----------------------------------
Name: Enrico Bogazzi
10
EXHIBIT INDEX
1. Joint Filing Agreement dated October 5, 2005 by and among Navalmar (UK)
Limited, Navalmar Transportes Maritimos LDA, CO.FI.PA SpA, and Enrico Bogazzi.
(filed herewith)
2. Heads of Terms between V. Investments Limited and Navalmar Transportes
Maritmos LDA dated August 16, 2005. (Incorporated by reference to Schedule 13D/A
filed on August 19, 2005, File No. 0001144204-05-026366)
3. Loan Agreement by and between Banco Popular and Navalmar Transportes
Maritimos LDA (filed herewith)
4. Facility Agreement by and between Banco Popular Italiana Societa
Cooeperativa, London Branch and Navalmar Transportes Maritimos LDA(filed
herewith)
11
SCHEDULE I
The name of each director and executive officer of Navalmar (UK) Limited is set
forth below. Directors of Navalmar (UK) Limited are indicated by an asterisk.
------------------------------ --------------------------------------------------------------- --------------------
Present Principal Occupation or Employment Business Address,
and Business Telephone Number; Other Material Positions Held
Name during the Past Five Years Citizenship
------------------------------ --------------------------------------------------------------- --------------------
Enrico Bogazzi* Director, B Navi SpA Italy
Director, Vittorio Bogazzi & Figli SpA
Via Cadorna 49/A
54036 Marina de Carrara
Italy
+390 585-631-665
Enrico Bogazzi has been employed with B Navi SpA
(ship management company) and Vittorio Bogazzi &
Figli SpA (ship agency company) for the past five
years.
------------------------------ --------------------------------------------------------------- --------------------
Roy Ware* Director, Navalmar (UK) Limited UK
Director, Marine Chartering Limited
Beulah Hall
3 Beulah Road
Wimbledon
London SW19 3SB
United Kingdom
+44 0208-540-8777
Roy Ware has been employed with Navalmar (UK)
Limited and Marine Chartering Limited for the
past five years.
------------------------------ --------------------------------------------------------------- --------------------
Stefano Tanganelli* Director, Navalmar (UK) Limited Italy
Beulah Hall
3 Beulah Road
Wimbledon
London SW19 3SB
United Kingdom
+44 0208-540-8777
Stefano Tanganelli has been employed with
Navalmar (UK) Limited for the past five years.
------------------------------ --------------------------------------------------------------- --------------------
Michael Lloyd* Solicitor UK
Michael Lloyd and Co.
5-7 St Helen's Place
London EC3A 6AU
+44 0207-920-9666
Lloyd and Co.
1 College Hill, London
United Kingdom
Michael Lloyd has been the sole practitioner at Michael Lloyd
and Co. since 2002. Before such time, he was a solicitor at
Lloyd and Co.
------------------------------ --------------------------------------------------------------- --------------------
Giorgio Boesgaard* Director, Hugo Trumpy SpA Denmark
10 via San Siro
16124 Genova
Italy
+390 10-24941
Giorgio Boesgaard has been employed by Hugo
Trumpy SpA, a ship agency company, for the past
five years.
------------------------------ --------------------------------------------------------------- --------------------
12
------------------------------ --------------------------------------------------------------- --------------------
Andrea Colombo* Director, Navalmar (UK) Limited Italy
Beulah Hall
3 Beulah Road
Wimbledon
London SW19 3SB
United Kingdom
+44 0208-540-8777
Andrea Colombo was been employed by Navalmar
Transportes Maritimos LDA from November 1997
through 2001, and with Navalmar (UK) Limited
since 2001.
------------------------------ --------------------------------------------------------------- --------------------
13
The name of each director and executive officer of Navalmar Transportes
Maritimos LDA is set forth below. Directors of Navalmar Transportes Maritimos
LDA are indicated by an asterisk.
------------------------------ --------------------------------------------------------------- --------------------
Present Principal Occupation or Employment Business Address,
and Business Telephone Number; Other Material Positions Held
Name during the Past Five Years Citizenship
------------------------------ --------------------------------------------------------------- --------------------
Enrico Bogazzi* Director, CO.FI.PA SpA Italy
Director, Vittorio Bogazzi & Figli SpA
Via Cadorna 49/A
54036 Marina de Carrara
Italy
+390 585-631-665
Enrico Bogazzi has been employed with B Navi SpA
(ship management company) and Vittorio Bogazzi &
Figli SpA (ship agency company) for the past five
years.
------------------------------ --------------------------------------------------------------- --------------------
Michael Lloyd* Solicitor UK
Michael Lloyd and Co.
5-7 St Helen's Place
London EC3A 6AU
+44 0207-920-9666
Lloyd and Co.
1 College Hill, London
United Kingdom
Michael Lloyd has been the sole practitioner at Michael Lloyd
and Co. since 2002. Before such time, he was a solicitor at
Lloyd and Co.
------------------------------ --------------------------------------------------------------- --------------------
Giorgio Boesgaard* Director, Hugo Trumpy SpA Denmark
10 via San Siro
16124 Genova
Italy
+390 10-24941
Giorgio Boesgaard has been employed by Hugo
Trumpy SpA, a ship agency company, for the past
five years.
------------------------------ --------------------------------------------------------------- --------------------
Andrea Colombo* Director, Navalmar Transportes Maritimos LDA Italy
Rua Dos Murcas 15
Sala G, 2nd Andar
9000 Funchal (Madeira) Portugal
+3 51 291 238565
Andrea Colombo was been employed by Navalmar
Transportes Maritimos LDA from November 1997 and
with Navalmar (UK) Limited since 2001.
------------------------------ --------------------------------------------------------------- --------------------
Maria Dina Rodrigues* Director Navalmar Transportes Maritimos LDA Portugal
Rua Dos Murcas 15
Sala G, 2nd Andar
9000 Funchal (Madeira) Portugal
+3 51 291 238565
Maria Dina Rodrigues was secretary of Navalmar
Transportes Maritimos LDA from November 2004 to
June 2005, when she became a director of the
company. Prior to that, she worked from October
2003 to November 2004 as secretary for Empresa de
Trabalho Temporario SA, a temporary employment
company. From February 2002 to September 2003 she
worked in the commercial offices of Icams -
Servicos de Consultadoria Internacional,
Comercial e Contabilidade, Lda, an international
commercial consulting and accounting company, and
from December 1999 through February 2002 she was
a secretary with Florence Tricot -Trading e
Marketing Lda, a trading and marketing company.
------------------------------ --------------------------------------------------------------- --------------------
14
The name of each director and executive officer of CO.FI.PA SpA is set forth
below. Directors of CO.FI.PA SpA are indicated by an asterisk.
------------------------------ --------------------------------------------------------------- --------------------
Present Principal Occupation or Employment Business Address,
and Business Telephone Number; Other Material Positions Held
Name during the Past Five Years Citizenship
------------------------------ --------------------------------------------------------------- --------------------
Enrico Bogazzi* Director, B Navi SpA Italy
Director, Vittorio Bogazzi & Figli SpA
Via Cadorna 49/A
54036 Marina de Carrara
Italy
+390 585-631-665
Enrico Bogazzi has been employed with B Navi SpA
(ship management company) and Vittorio Bogazzi &
Figli SpA (ship agency company) for the past five
years.
------------------------------ --------------------------------------------------------------- --------------------
Maria Piccioli* Piazza della Chiesa nr. 2 Italy
Massarosa
Italy
Maria Piccioli is a housewife and has had no
other employment for the past five years.
------------------------------ --------------------------------------------------------------- --------------------
Francesca Bogazzi* 2 Rue N.D. des Victoires Italy
75002 Paris
France
Francesca Bogazzi is a housewife and has had no
other employment for the past five years.
------------------------------ --------------------------------------------------------------- --------------------
15