Grindrod Participates in Selective Capital Reduction

Fried Frank acted as counsel to Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) ("Grindrod Shipping") and its controlling shareholder, Taylor Maritime Investments Limited (LON: "TMI") ("TMI"), in Grindrod Shipping's selective capital reduction through which all of the shares of Grindrod Shipping other than shares owned by TMI were cancelled in exchange for $14.25 in cash for each cancelled share, resulting in TMI owning 100% of Grindrod Shipping. As a result of the selective capital reduction, Grindrod Shipping will be delisted from each of Nasdaq and the Johannesburg Stock Exchange.

The Fried Frank team was led by partners Philip Richter and Roy Tannenbaum.