Sinindo Holdings Ltd. made a mandatory offer to acquire the remaining 46.82% stake in SinOceanic Shipping ASA (OB:SINO) for NOK 50.3 million on June 28, 2012. Under the terms, Sinindo Holdings will acquire 6.28 million shares for NOK 8 per share through a tender offer which will commence on July 13, 2012 and expire on August 10, 2012. Sinindo Holdings had on June 28, 2012, agreed to acquire an additional 19.86% stake in SinOceanic Shipping ASA (OB:SINO) for NOK 21.3 million, thereby, triggering the offer. On July 16, 21012, Sinindo Holdings Ltd. received acceptances for 5893 shares of SinOceanic Shipping ASA. As of July 20, 2012, Sinindo has received acceptances for 8590 shares and now holds 53.24% stake in SinOceanic Shipping. As of July 25, 2012, Sinindo has received acceptances for 10837 shares of SinOceanic. As of July 31, 2012, Sinindo has received acceptances for 41101 shares of SinOceanic. As of August 3, 2012, Sinindo has received acceptances for 32780 shares of SinOceanic. On August 6, 2012, Sinindo has received acceptances for 22797 shares of SinOceanic. As of August 7, 2012, Sinindo Holdings received further acceptances of 0.04 million shares of SinOceanic Shipping ASA. As of August 8, 2012, Sinindo Holdings Ltd. received further acceptance of 0.08 million shares. Sinindo Arctic Securities ASA and DnB NOR Markets, ASA acted as financial advisors to Sinindo Holdings. Pareto Securities ASA acted as fairness opinion provider to Board of Directors of SinOceanic Shipping ASA.