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CUSIP No. G37585109

 

 

CUSIP No. G37585109

 

1	NAMES OF REPORTING PERSONS
	Blenheim Holdings Ltd.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
	(a) ☒ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS)
	WC
5	CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
	☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	Bermuda
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
			30,513,990
		8	SHARED VOTING POWER
		9	SOLE DISPOSITIVE POWER
			30,513,990
		10	SHARED DISPOSITIVE POWER
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	30,513,990
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	37.9%
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	CO

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The purpose of this Amendment No. 6 (this “Amendment No. 6”) to the Schedule 13D filed with the Securities and Exchange Commission (the “Commission”) on June 29, 2012 (the “Original Schedule 13D”), as amended on March 13, 2014, April 16, 2014, September 26, 2014, March 26, 2015 and August 7, 2015 (as amended, the “Amended Schedule 13D”) is to reflect (i) Blenheim Holdings Ltd.’s (“Blenheim”) acquisition in December 2015 of an aggregate 786,976 Shares in the open market and (ii) the release of the Shares pledged to secure Blenheim’s obligations under the previously disclosed Amended and Restated Margin Loan Agreement.

Except as set forth below, all Items in the Amended Schedule 13D remain unchanged. Capitalized terms used in this Amendment No. 6 and not otherwise defined shall have the respective meanings assigned to such terms in the Amended Schedule 13D.

Item 3. Source and Amount of Funds or Other Consideration

Between December 4, 2015 and December 18, 2015, Blenheim purchased a total of 786,976 Shares in the open market at an average price of $8.87 per Share, for an aggregate purchase price of approximately $6.98 million.  The source of funds for such purchase was available corporate funds of Blenheim.

Item 5. Interest in Securities of the Issuer

The first two sentences of Section (a) are amended and restated as follows:

See Items 11 and 13 on Cover Pages to this Amendment No. 6.  Percentages are based on 80,496,499 Shares outstanding as of September 30, 2015, as reported by the Issuer in its Form 6-K furnished to the Commission on November 5, 2015.

 

The first sentence in Section (a) under the heading “Blenheim Holdings Ltd.” is amended and restated as follows:

Blenheim is the direct owner of 30,513,990 Shares.

Sections (b) and (c) of Item 5 are amended and restated as follows:

(b) Number of Shares as to which each Reporting Person has:

 

(i) Sole power to vote or to direct the vote: See item 7 on Cover Pages to this Amendment No. 6.

 

(ii) Shared power to vote or to direct the vote: See item 8 on Cover Pages to this Amendment No. 6.

 

(iii) Sole power to dispose or to direct the disposition: See item 9 on Cover Pages to this Amendment No. 6.

 

(iv) Shared power to dispose or to direct the disposition: See item 10 on Cover Pages to this Amendment No. 6.

(c) Between December 4, 2015 and December 18, 2015, Blenheim purchased a total of 786,976 Shares in the open market at an average price of $8.87 per Share, for an aggregate purchase price of approximately $6.98 million.

Except as described in this Item 5(c), there have been no transactions in the Shares effected during the past 60 days by any of the Reporting Persons.

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

On September 28, 2015, Blenheim, as borrower (the “Borrower”), prepaid in full all amounts outstanding under the previously disclosed Amended and Restated Margin Loan Agreement.  The 7,250,000 Shares which were pledged under the Security Deed to secure the Borrower’s obligations under the Amended and Restated Margin Loan Agreement were released.

 

 

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.

 

Date: December 21, 2015

	Ceres Shipping Ltd.
	By:	/s/ Peter G. Livanos
		Name: Peter G. Livanos
		Title:   Director

 

	Blenheim Holdings Ltd.
	By:	/s/ Peter G. Livanos
		Name: Peter G. Livanos
		Title:   Director