Filing Details

Accession Number:
0000950157-21-000034
Form Type:
13D Filing
Publication Date:
2021-01-11 11:49:33
Filed By:
Livanos Peter G.
Company:
Gaslog Ltd. (NYSE:GLOG)
Filing Date:
2021-01-11
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Peter G. Livanos 38,543,544 876,000 38,543,544 876,000 39,419,544 41.3%
Ceres Shipping Ltd 37,300,000 9 37,300,000 11 37,300,000 39.1%
Blenheim Holdings Ltd 37,300,000 9 37,300,000 11 37,300,000 39.1%
Filing



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
Under the Securities Exchange Act of 1934

(Amendment No. 9)

GasLog Ltd.

(Name of Issuer)

Common Shares, par value $0.01 per share

(Title of Class of Securities)

G37585109

(CUSIP Number)

Peter G. Livanos
c/o Ceres Monaco SAM
Gildo Pastor Center
7 rue due Gabian
98000 Monaco

Copies to:

Andrew J. Pitts, Esq.
Charles Lubar, Esq.
Cravath, Swaine & Moore LLP
McDermott Will & Emery
Worldwide Plaza
110 Bishopsgate
825 Eighth Avenue
London, ENGLAND EC2N 4AY
New York, New York 10019
+44 20 7577 6900
+1 (212) 474-1132
(telephone number)
(telephone number)
+44 20 7577 6950
+1 (212) 474-3700
(facsimile number)
(facsimile number)
 

(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)


December 31, 2020

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-l(f) or 240.13d-l(g), check the following box. □

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.





CUSIP No. G37585109

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
Peter G. Livanos
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Greece and the United Kingdom
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
38,543,544
 
 
 
 
8
SHARED VOTING POWER
 
 
876,000
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
38,543,544
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
876,000
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
39,419,544
 
 
 
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
41.3%(1)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
IN
 
 
 
 

(1) The percentage ownership is calculated based on aggregate number of 95,393,126 Common Shares issued and outstanding as of January 8, 2021.


CUSIP No. G37585109

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
Ceres Shipping Ltd.
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Bermuda
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
37,300,000
 
 
 
 
8
SHARED VOTING POWER
 
 
 
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
37,300,000
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
 
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
37,300,000
 
 
 
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
39.1%(2)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
CO
 
 
 
 

(2) The percentage ownership is calculated based on aggregate number of 95,393,126 Common Shares issued and outstanding as of January 8, 2021.


CUSIP No. G37585109

1
NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
Blenheim Holdings Ltd.
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
 
(b)
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
SOURCE OF FUNDS (SEE INSTRUCTIONS)
 
 
WC
 
 
 
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)
 
 
 
 
 
 
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Bermuda
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 
37,300,000
 
 
 
 
8
SHARED VOTING POWER
 
 
 
 
 
 
 
9
SOLE DISPOSITIVE POWER
 
 
37,300,000
 
 
 
 
10
SHARED DISPOSITIVE POWER
 
 
 
 
 
 
 
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
37,300,000
 
 
 
 
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
 
 
 
 
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
 
39.1%(3)
 
 
 
 
14
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
CO
 
 
 
 

(3) The percentage ownership is calculated based on aggregate number of 95,393,126 Common Shares issued and outstanding as of January 8, 2021.



Explanatory Note

The purpose of this Amendment No. 9 (this “Amendment No. 9”) to the Schedule 13D filed with the Securities and Exchange Commission (the “Commission”) on June 29, 2012 in respect of the Common stock, par value US $0.01 per share (the "Shares") of Gaslog Ltd. (the "Issuer") (the “Original Schedule 13D”), as amended on March 13, 2014, April 16, 2014, September 26, 2014, March 26, 2015, August 7, 2015, December 21, 2015, June 24, 2019 and June 30, 2020 (as amended, the “Amended Schedule 13D”) is to update the Amended Schedule 13D to reflect (1) the charge by Blenheim Holdings Ltd. over two (2) safekeeping accounts under a secured facility agreement and (2) the purchase by Maple Tree Holdings Ltd. of additional Shares.

Except as set forth below, all Items in the Amended Schedule 13D remain unchanged. Capitalized terms used in this Amendment No. 9 and not otherwise defined shall have the respective meanings assigned to such terms in the Amended Schedule 13D.

Item 2. Identity and Background

Reporting Person/ Director/Officer/Control
Person of a Reporting Person
Address of Principal
Office/Business or
Residence Address
Jurisdiction of
Incorporation/
Citizenship
Name/Address of
Employer and
Occupation
Principal
Business
Peter G. Livanos
c/o Ceres Monaco SAM
Gildo Pastor Centre,
7, rue du Gabian,
98000 Monaco
Greece and United Kingdom
GasLog Ltd.
c/o 69 Akti Miaouli
18537 Piraeus, Greece
International owner, operator and manager of LNG carriers
     
Chairman
 
     
Ceres Shipping Ltd.
Clarendon House
2 Church Street,
HM11 Hamilton, Bermuda
Holding Company that has interests in international operators, owners and managers of  LNG carriers and Dry Bulk carriers
     
Chairman and sole shareholder
 
Ceres Shipping Ltd.
Clarendon House
2 Church Street
Hamilton, HM11 Bermuda
Bermuda
N/A
See above
Directors
       
Peter G. Livanos
See above
See above
See above
See above
Bruce L. Blythe
Minera Mews
London SW1W 96D
U.S.A. and United
Kingdom
GasLog Ltd.
c/o 69 Akti Miaouli
18537 Piraeus, Greece

Director
See above



Ilias A. Iliopoulos
Le Continental
Place des Moulins
MC 98000, Monaco
Greece
Ceres Monaco S.A.M.
Gildo Pastor Center
7 rue du Gabian
98000, Monaco
 
Managing Director
Family Office
Jean Haramis
Le Continental
Place des Moulins
MC 98000, Monaco
Switzerland
Ceres Monaco S.A.M.
Gildo Pastor Center
7 rue du Gabian
98000, Monaco
 
Managing Director
Family Office
Officers
       
Chairman, Chief Executive Officer
Peter G. Livanos
See above
See above
See above
See above
Vice Chairman
Bruce L. Blythe
See above
See above
See above
See above
Chief Financial Officer
Athanasios
Thanopoulos
6, Parthenonos Street
Paleo Faliro
Athens 17562, Greece
Greece
DryLog Ltd.
c/o Ceres Monaco S.A.M.
Gildo Pastor Center
7 rue du Gabian
98000, Monaco

Chief Financial Officer
Holding Company that has interests in international operators, owners and managers of dry bulk vessels
Chief Compliance Officer, Assistant Secretary
Konstantinos
Andreou
13, Terpsihoris Street
Paleo Faliro
Athens 17562, Greece
Greece
Drylog Services Ltd.
69, Akti Miaouli Street
18537 Piraeus, Greece

Legal Counsel
International operator of dry bulk vessels
Secretary
Conyers Corporate
Services (Bermuda)
Limited
Clarendon House
2 Church Street
Hamilton, HM 11 Bermuda
Bermuda
N/A
Resident representatives



Blenheim Holdings Ltd.
c/o Ceres Monaco S.A.M.
Gildo Pastor Center
7 rue du Gabian
Monte Carlo
98000, Monaco
Bermuda
N/A
Holding company
Directors
       
Peter G. Livanos
See above
See above
See above
See above
Ilias A. Iliopoulos
See above
See above
See above
See above
Stanislao Faina
c/o C Transport
Maritime S.A.M.
Gildo Pastor Center
7 Rue du Gabian
Monte Carlo
MC 98000, Monaco
Italy
C Transport Maritime S.A.M.
Gildo Pastor Center
7 rue du Gabian
98000, Monaco

Legal and Corporate
International operator and manager of dry bulk carriers
Officers
       
Chief Executive Officer
Peter G. Livanos
See above
See above
See above
See above
Chief Financial Officer
Athanasios
Thanopoulos
See above
See above
See above
See above
Chief Compliance Officer, Assistant Secretary
Konstantinos
Andreou
See above
See above
See above
See above
Secretary
Conyers Corporate
Services (Bermuda)
Limited
See above
See above
See above
See above

Item 4. Interest in Securities of the Issuer

In consideration of the First Supplemental Agreement amending the Original Facility Agreement (both as described in Item 6 below), Blenheim granted a charge over two (2) safekeeping accounts together containing 30,800,000 Shares to secure its obligations under a facility in an amount of up to $150,000,000.

Item 5. Interest in Securities of the Issuer

Sections (a), (b) and (c) of Item 5 are amended as follows:

 (a) See Items 11 and 13 on Cover Pages to this Amendment No. 9. Percentages are based on 95,393,126 Common Shares issued and outstanding as of January 8, 2021.

Peter G. Livanos. Peter G. Livanos does not directly own any Shares.

Ceres Shipping Ltd. (“Ceres”). Mr. Livanos beneficially owns 100% of the share capital of Ceres. Ceres does not directly own any Shares.

Blenheim Holdings Ltd. (“Blenheim”). Blenheim is the direct owner of 37,300,000 Shares. Ceres beneficially owns a majority of the share capital of Blenheim, and, pursuant to the by-laws of Blenheim:

 “any question relevant to the voting or the sale, transfer or other disposal of any shares of [the Issuer] held from time to time by [Blenheim], and the disposition of any proceeds thereof, . . . shall be decided by a resolution adopted by [the holders] of a majority of the issued and outstanding shares”.

Accordingly, Ceres may be deemed to beneficially own the Shares directly held by Blenheim.



Mr. Livanos also beneficially owns 100% of the share capital of the following entities (the “Owned Entities”) which directly own an aggregate 1,243,544 Shares:

Entity
 
Number of
Shares
Directly
Owned
 
Ash Tree S.A.
 
690,000
 
Maple Tree Holdings Ltd.
 
539,044
 
Acer Tree SA
 
14,500
 

Mr. Livanos is an officer, member of the board of directors and/or settlor of the following entities (the “Controlled Entities”) which directly own an aggregate 876,000 Shares for the benefit of Mr. Livanos and members of his family, accordingly he may be deemed to have shared voting and/or dispositive power over such Shares:

Entity
 
Number of
Shares
Directly
Owned
 
Falconera Navigation Inc.
 
602,000
 
Chiara Holdings S. de R.L.
 
181,000
 
Thatcher Investments Limited
 
23,250
 
Eleanor Investments Holdings Limited
 
23,250
 
Nelson Equity Limited
 
23,250
 
JP Jones Holdings Limited
 
23,250
 
       












Mr. Livanos disclaims beneficial ownership of the Shares owned by the Controlled Entities, and the Controlled Entities disclaim beneficial ownership of the Shares owned by Mr. Livanos and the Owned Entities.

Except as set forth in this Item 5(a), none of the Reporting Persons owns beneficially any Shares.

 (b) Number of Shares as to which each Reporting Person has:


(i)
Sole power to vote or to direct the vote: See item 7 on Cover Pages to this Amendment No. 9.


(ii)
Shared power to vote or to direct the vote: See item 8 on Cover Pages to this Amendment No. 9.


(iii)
Sole power to dispose or to direct the disposition: See item 9 on Cover Pages to this Amendment No. 9.


(iv)
Shared power to dispose or to direct the vote: See item 10 on Cover Pages to this Amendment No. 9.

(c) On September 25, 2020, Maple Tree Holdings Ltd. (“Maple Tree”), an entity in which Peter G. Livanos owns 100% of the share capital, acquired 100,000 shares in the open market at an average price of $2.7424 per Share. On October 9, 2020, Maple Tree transferred 475,409 Shares previously held by Maple Tree to Blenheim. Except as described in this Item 5(c), there have been no transactions in the Shares effected during the past 60 days by any of the Reporting Persons.



Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Item 6 of the Schedule 13D/A is hereby amended by adding the following:

On December 31, 2020, Blenheim Holdings Ltd., as borrower entered into the First Supplemental Agreement, dated December 31, 2020 (the “First Supplemental Agreement”), with Citibank N.A., London Branch, as lender (the “Lender”) amending and restating the secured facility agreement dated October 31, 2017 between Blenheim, as borrower, and Lender (the “Original Facility Agreement”, as amended by the First Supplemental Agreement, the “Facility Agreement”).  In consideration of the First Supplemental Agreement, Blenheim granted a charge over two (2) safekeeping accounts together containing 30,800,000 Shares (the “Pledged Accounts”) to secure the obligations of Blenheim under the Facility Agreement. All amounts outstanding under the Facility Agreement over the term of the loan(s) are, and will be, secured, among other things, by the Pledged Accounts pursuant to (i) a security agreement (the “Security Agreement”), dated as of December 31, 2020, between  Blenheim and the Lender, (ii) a control agreement (the “Control Agreement”), dated as of December 31, 2020, between Blenheim, the Lender and Credit Suisse (Schweiz) AG, as the custodian and (iii) a pledge agreement (the “Pledge Agreement”), dated as of December 31, 2020, between Blenheim, the Lender and CMB Monaco, as the third party custodian. If Blenheim defaults on its obligations under the Facility Agreement then the Lender may declare all borrowings outstanding under the Facility Agreement, to be immediately due and payable, and if Blenheim does not pay such amounts, the Lender may elect, among other things, to foreclose on the Pledged Accounts under the Facility Agreement.

Item 7. Material to be Filed as Exhibits

Exhibit 1 Security Agreement, dated December 31, 2020, between Blenheim Holdings Ltd., as borrower, and Citibank, N.A., London Branch, as lender.

Exhibit 2 Control Agreement, dated December 31, 2020, between Blenheim Holdings Ltd., as borrower, Citibank, N.A., London Branch, as lender and Credit Suisse (Schweiz) AG, as the custodian.

Exhibit 3 Pledge Agreement, dated December 31, 2020, between Blenheim Holdings Ltd., as borrower, Citibank, N.A., London Branch, as lender and CMB Monaco, as the third party custodian.




SIGNATURE

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.

Date: January 8, 2021

  Peter G. Livanos  
       

By:
/s/ Peter G. Livanos  
       

  Ceres Shipping Ltd.  

     

By:
/s/ Peter G. Livanos  
    Name: Peter G. Livanos  
    Title: Director  
       


Blenheim Holdings Ltd.
 

     

By:
/s/ Peter G. Livanos  
    Name: Peter G. Livanos  
    Title: Director