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NOL?s share price lost over 15%

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13.03.2009 15:25

NOL?s share price lost over 15%

Neptune Orient Lines has denied speculation that it is planning a rights issue.

Neptune Orient Lines has denied speculation that it is planning a rights issue.

Neptune Orient Lines has denied speculation that it is planning a rights issue.

NOL"s share price lost over 15% earlier in the week as investors reacted against market talk of a rights issue that would have diluted earnings.

?The company wishes to state that the company is not undertaking a rights issue,? NOL said in a statement to the Singapore Exchange on Friday.

?The company reiterates that, in the course of its business, it continually evaluates all available options to improve its performance and strategic position.?

The Singapore-listed container line sank into the red in the fourth quarter of 2008 and expects to make a loss this year.

NOL"s shares were up 11.4% at S$0.98 in afternoon trading on Friday.

www.TurkishMaritime.com.tr

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