Hemen Holding Amends SFL Corp Stake Filing

TL;DR

Hemen Holding updated its SFL Corp filing. Ownership details TBD.

AI Summary

Hemen Holding Limited, a significant shareholder, has filed an amendment (Amendment No. 8) to its Schedule 13D for SFL Corporation Ltd. on July 30, 2024. The filing indicates changes in beneficial ownership, though specific new holdings or disposals are not detailed in this excerpt. Hemen Holding Limited is based in Limassol, Cyprus.

Why It Matters

This amendment signals potential shifts in the ownership structure of SFL Corporation Ltd., which could influence future strategic decisions or market perception.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings can indicate changes in significant shareholder intentions or holdings, requiring investor attention.

Key Numbers

• 8 — Amendment Number (Indicates this is the eighth update to the filing.)
• 20240730 — Filing Date (Date the amendment was filed with the SEC.)

Key Players & Entities

• Hemen Holding Limited (company) — Filing entity
• SFL Corporation Ltd. (company) — Subject company
• Christakis Theodoulou (person) — Contact person for Hemen Holding
• Keith J. Billotti, Esq. (person) — Legal counsel for Hemen Holding
• Seward & Kissel LLP (company) — Legal counsel for Hemen Holding

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Shares, par value $0.01 per share (Title of Class of Securitie

Filing Documents

• d11423049_13d-a.htm (SC 13D/A) — 198KB
• 0000919574-24-004166.txt ( ) — 200KB

Security and Issuer

Item 1. Security and Issuer No material changes from the Schedule 13D/A filed with the Securities and Exchange Commission (the " SEC ") on November 23, 2018.

Identity and Background

Item 2. Identity and Background This Schedule 13D is being filed on behalf of the following: (i) Hemen; (ii) Frontline (iii) Greenwich; and (iv) C.K. Limited. Hemen, Frontline, Greenwich and C.K. Limited are collectively referred to as the "Reporting Persons." Hemen is the largest shareholder in Frontline, holding approximately 35.6% of Frontline's issued and outstanding shares. Greenwich is the sole shareholder of Hemen. The principal business of C.K. Limited is acting as trustee of various trusts established by John Fredriksen for the benefit of his immediate family members. C.K. Limited serves as the trustee for the Trusts that are the sole shareholder of Greenwich and indirect owner of Hemen. (a), (b), (c) and (f) (i) The address of Hemen principal place of business is P.O. Box 53562, CY3399, Limassol, Cyprus. The principal business of Hemen is acting as an investment holding company. The name, citizenship, present principal occupation of Hemen directors and the name, principal business and address of any corporation or other organization in which such employment is conducted is set forth below. Hemen does not have any executive officers. Name Position of Officer or Director Principal Occupation or Employment, Principal Business Address and Citizenship Christakis Theodoulou Costas K. Saveriades Director Director Mr. Theodoulou's principal business address is Deana Beach Apartments, Block 1, 4th Floor, 33 Promachon Eleftherias Street, Ayios Athanasios, 4103 Limassol, Cyprus. Mr. Theodoulou is a citizen of Cyprus. Mr. Saveriades's, principal business address is 8 John Kennedy Street, IRIS House, 7 th Floor, Office 740B, 3106 Limassol, Cyprus. Mr. Saveriades is a citizen of Cyprus. Kyriacos Kazamias Director Mr. Kazamias' principal business address is Georgiou Drosini 6, Potamos Germasogeias, 4043 Limassol, Cyprus. Mr. Kazamias is a citizen of Cyprus. (ii) The address of Frontline ' s principal place of business is 8, John Kennedy Street, Iri

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration No material changes from the Schedule 13D/A filed with the SEC on November 23, 2018.

Purpose of Transaction

Item 4. Purpose of Transaction The Reporting Persons at any time and from time to time may acquire additional Common Shares or dispose of any or all of Common Shares they own depending upon an ongoing evaluation of the investment in the Common Shares, prevailing market conditions, other investment opportunities, other investment considerations and/or other factors. The Reporting Persons have no plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j) inclusive of the instructions to Item 4 of Schedule 13D. The Reporting Persons may, at any time and from time to time, review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto. The information included in Items 3 and 6 is hereby incorporated by reference.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer (a)-(c) According to the Issuer's prospectus supplement, which was filed with the SEC on Form 424B5 on July 25, 2024, there were 145,708,524 Common Shares issued and outstanding as of July 25, 2024. The Reporting Persons report beneficial ownership of the following Common Shares: As of the date hereof, Hemen may be deemed to be the beneficial owner of 25,728,687 Common Shares, constituting 17.7% of the Common Shares based upon Common Shares outstanding. The 25,728,687 Common Shares excludes Frontline's 73,165 Common Shares. Hemen has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 25,728,687 Common Shares. Hemen has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 25,728,687 Common Shares. As of the date hereof, Frontline may be deemed to be the beneficial owner of 73,165 Common Shares, constituting 0.05% of the outstanding Common Shares, based upon Common Shares outstanding. Frontline has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 73,165 Common Shares. Frontline has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 73,165 Common Shares. As of the date hereof, Greenwich, through Hemen, may be deemed to be the beneficial owner of 25,728,687 Common Shares, constituting 17.7% of the Common Shares based upon Common Shares outstanding. Greenwich has the sole power to vote or direct the vote of 0 Common Shares and the shared power to vote or direct the vote of 25,728,687 Common Shares. Greenwich has the sole power to dispose or direct the disposition of 0 Common Shares and the shared power to dispose or direct the disposition of 25,728,687 Common Shares. As of the date hereof, C.K. Limited, through Greenwich, may be deemed to be

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

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer No material changes from the Schedule 13D/A filed with the SEC on November 23, 2018.

Materials to be Filed as Exhibits

Item 7. Materials to be Filed as Exhibits Exhibit A: Joint Filing Agreement

SIGNATURES

SIGNATURES 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. July 30, 2024 (Date) Hemen Holding Limited By: /s/ Christakis Theodoulou Name: Christakis Theodoulou Title: Director Frontline plc By: /s/ Inger M. Klemp Name: Inger M. Klemp Title: Principal Financial Officer Greenwich Holdings Limited By: /s/ Christakis Theodoulou Name: Christakis Theodoulou Title: Director C.K. Limited By: /s/ Christakis Theodoulou Name: Christakis Theodoulou Title: Director * Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of their pecuniary interest therein. Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001). JOINT FILING AGREEMENT The undersigned agree that this Schedule 13D/A, dated July 30, 2024, relating to the Common Shares, par value $0.01 per share of SFL Corporation Ltd. shall be filed on behalf of the undersigned. Hemen Holding Limited By: /s/ Christakis Theodoulou Name: Christakis Theodoulou Title: Director Frontline plc By: /s/ Inger M. Klemp Name: Inger M. Klemp Title: Principal Financial Officer Greenwich Holdings Limited By: /s/ Christakis Theodoulou Name: Christakis Theodoulou Title: Director C.K. Limited By: /s/ Christakis Theodoulou Name: Christakis Theodoulou Title: Director

View Full Filing

View this SC 13D/A filing on SEC EDGAR