Horace Clarkson PLC

18 Aug 1999

CLARKSONS BROADENS ITS SHIPPING SERVICES

CLARKSONS BROADENS ITS SHIPPING SERVICES WITH ACQUISITION OF INTEREST IN VANLINK GROUP LIMITED

Simmons & Simmons advised Horace Clarkson PLC, which is the holding company for Clarksons, the world's largest ship brokers, in respect of its agreement to acquire a 50% interest in Vanlink Group Limited, the parent company of Univan Ship Management Limited. This move represents a further step towards Clarksons offering its clients worldwide a broader range of shipping services.

Univan Ship Management are a leading Hong Kong based ship management group founded in 1973 by Captain Charles Vanderperre. Today, Univan employs approximately 140 staff at its headquarters in Hong Kong and in its recruitment centres in India and the Philippines. It presently manages a fleet of approximately 50 vessels, and provides a complete range of ship management services including vessel maintenance and all aspects of crew management.

Horace Clarkson was advised by corporate lawyer Allan Rippon of Simmons & Simmons.

Last year, Simmons & Simmons acted for Horace Clarkson on a ground breaking share buyback scheme which involved the company returning £8 million of surplus capital to its shareholders by way of a repurchase of its own shares.

ENDS Notes for editors:

1. Simmons & Simmons is worldclass law firm with offices in London, Paris, Brussels, Düsseldorf, Lisbon, Milan, Rome, Madrid, Abu Dhabi, Hong Kong, Shanghai and New York with over 1,400 staff worldwide. For further information on Simmons & Simmons please visit our website at www.simmons-simmons.com.

2. The Corporate Department at Simmons & Simmons comprises over 220 legal staff (115 in London), including 47 partners (27 in London). It advises on the whole range of corporate finance activity, and mergers and acquisitions as well as other corporate law matters for listed and unlisted companies, in the United Kingdom and overseas.