Tuesday, December 26, 2006

QVT Financial Discloses 6.4% Stake in Top Tankers (TOPT)

In a 13D filing after the close Friday on Top Tankers Inc. (Nasdaq: TOPT), QVT Financial LP disclosed a 6.4% stake (1.8 million shares) in the company.

In a pretty standard disclosure, the firm said they may consider transactions of the type described in subparagraphs (a) through (j) of Item 4 of the Instructions to Schedule 13D and, subject to applicable law, may formulate a plan with respect to such matters. In addition, from time to time, the reporting persons may hold discussions with or make formal proposals to management or the board of directors of the Issuer, other stockholders of the Issuer or other third parties regarding such matters.

The firm said the shares were purchased between August 10, 2005 and December 21, 2006 for approximately $18.3 million.

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