Thursday, April 21, 2011

FAIRSTAR HEAVY TRANSPORT N.V. 2011 Annual General Meeting of Shareholders approves all Resolutions

Fairstar Heavy Transport N.V. (FAIR) held its 2011 AGM in Rotterdam. Just over eighty percent of the company's issued shares were voted either by proxy or in the person of shareholders who attended the meeting. All of the resolutions on the agenda were approved.

The Chairman of the Supervisory Board Frits van Riet, who was re-elected to serve an additional four year term stated, "I would like to thank our shareholders for their participation in the 2011 AGM. 80% of our total shares were represented at the Meeting. Our shareholders are active, well informed and supportive of Fairstar's clearly stated strategic agenda for the future. We believe the Fairstar "Red Box Strategy", focussing on high value, multi voyage energy infrastructure projects will generate significant and consistent returns for our company in the next five years. 2011 is a critical year for our company as we prepare ourselves for Gorgon and a host of other multi-billion dollar energy projects now in the final stage of tender. Our Management Team has done an outstanding job building the foundation for our future. Fairstar is well on the way to establishing itself within the EPC community as the leading provider of safe and secure marine heavy transport services for major onshore and offshore energy projects. The endorsement and support of our shareholders as we grow will be rewarded for many years to come."

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