0000278041-16-000123.txt : 20160609 0000278041-16-000123.hdr.sgml : 20160609 20160609170601 ACCESSION NUMBER: 0000278041-16-000123 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20160609 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160609 DATE AS OF CHANGE: 20160609 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INTERNATIONAL SHIPHOLDING CORP CENTRAL INDEX KEY: 0000278041 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 362989662 STATE OF INCORPORATION: DE FISCAL YEAR END: 1028 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10852 FILM NUMBER: 161706652 BUSINESS ADDRESS: STREET 1: 11 NORTH WATER STREET STREET 2: SUITE # 18290 CITY: MOBILE STATE: AL ZIP: 36602 BUSINESS PHONE: 2512439100 MAIL ADDRESS: STREET 1: P.O. BOX 2004 CITY: MOBILE STATE: AL ZIP: 36652 8-K 1 c041-20160609x8k.htm 8-K Form 8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



Date of Report (Date of Earliest Event Reported)

June 8, 2016



INTERNATIONAL SHIPHOLDING CORPORATION

(Exact name of registrant as specified in its charter)

Commission file number  –  001-10852

Delaware

 

36-2989662

(State or other jurisdiction of incorporation or organization)

 

(I.R.S. Employer Identification Number)



11 North Water Street

Mobile, Alabama

36602

(Address of principal executive offices)

(Zip Code)



(251) 243-9100

(Registrant’s telephone number, including area code)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities Act

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

 

 

Item 8.01Other Events.

On June 8, 2016, International Shipholding Corporation issued a press release providing an update on the implementation of its Strategic Plan, which the Company announced on November 16, 2015.  A copy of the press release is filed as Exhibit 99.1 to this report.

Item 9.01Financial Statements and Exhibits.

(d)Exhibits.

The exhibit to this Current Report is listed in the Exhibit Index, which appears at the end of this report and is incorporated by reference herein.







 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



INTERNATIONAL SHIPHOLDING CORPORATION

By:/s/ Manuel G. Estrada

Manuel G. Estrada

Vice President and Chief Financial Officer

Date:June 9, 2016 

 

 

 

Exhibit Index



ecemb

 

Exhibit No.

Description

99.1

Press Release dated June 8, 2016.



EX-99.1 2 c041-20160609xex99_1.htm EX-99.1 EX 9912

W:\CLIENTS\ISH\Client Files\Images & Logos\ISH Rebranding\ISH_Corporate_Identity_Version_2_RGB_0.1 Transparent Bkgrnd No Text.tif







INTERNATIONAL SHIPHOLDING CORPORATION PROVIDES UPDATE ON IMPLEMENTATION OF STRATEGIC PLAN





MOBILE, AL – June 8, 2016 - International Shipholding Corporation (OTCQX: ISHC) today announced that on June 8, 2016 the lenders under its Credit Facility agreed to forebear from exercising any rights or remedies before July 1, 2016 with respect to various specified defaults under the credit facility.  This forbearance will automatically terminate before July 1, 2016 if various events occur, including, among several others, the initiation of steps by other lenders to enforce their rights or accelerate any indebtedness under the Company’s other debt instruments.  The Company’s four other lenders have either furnished, or indicated a willingness to furnish, contingent agreements under which they would forebear from exercising certain rights or defer certain payments through July 1, 2016, subject in the case of one lender to its receipt by June 10, 2016 of confirmation that all lenders have implemented similar payment deferrals.  While the Company’s three lessors have declined to furnish any similar payment relief, and thereby have retained all of their rights to declare the Company in default and accelerate the Company’s obligations to them under the Company’s operating leases, as of the date of this release, none of the lessors have declared a default and/or accelerated the Company’s obligations to them.  If any of the lessors exercises these rights, the above-cited deferral or forbearance arrangements would automatically terminate.



The Company continues to work with its financial advisor, Blackhill Partners, LLC, which is assisting the Company in evaluating its various alternatives.



The Company can provide no assurance as to the outcome or timing of its current endeavors, and plans to make future announcements if and when it determines that further updates are necessary or appropriate.





Contact:

James T. Higginbotham

(251) 243-9114

Higgjt@intship.com



Sheila Dean

(251) 243-9230

deansa@intship.com



International Shipholding Corporation

Niels M. Johnsen, Chairman (212) 943-4141

Erik L. Johnsen, President (251) 243-9221

Manny Estrada, V. P. and CFO (504) 249-6082 



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