One of Harland and Wolff's major shareholders has indicated that it plans to buy an additional £20 million sterling (€32 million) worth of shares in a new £30 million rights issue launched by the ailing Belfast shipyard. Atlan and Aztlan Consolidated, a subsidiary of Olsen Energy and the majority shareholder in Harland and Wolff, has confirmed that it will take up its rights in the finance-raising exercise launched earlier this month.
In a circular to shareholders, Sir David Fell, the chairman of Harland and Wolff says funds raised will be used to repay the shipyard's borrowings to Fred Olsen Energy ASA.
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