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    SEC Form SC 13D/A filed by Scorpio Tankers Inc. (Amendment)

    8/17/23 4:31:03 PM ET
    $STNG
    Marine Transportation
    Consumer Discretionary
    Get the next $STNG alert in real time by email
    SC 13D/A 1 d10791127_13d-a.htm
    UNITED STATES
    SECURITIES AND EXCHANGE COMMISSION
    WASHINGTON, D.C. 20549

    SCHEDULE 13D
    UNDER THE SECURITIES EXCHANGE ACT OF 1934
    (Amendment No. 2)

    Scorpio Tankers Inc.
    (Name of Issuer)


    Common Stock, par value $0.01 per share
    (Title of Class of Securities)


    Y7542C130
    (CUSIP Number)


    Mr. Emanuele Lauro
     99 Boulevard du Jardin Exotique
    Monaco 98000
    377-9798-5716
     
    with a copy to:
    Edward S. Horton, Esq.
    Seward & Kissel LLP
    One Battery Park Plaza
    New York, New York 10004
    (212) 574-1200
    (Name, Address and Telephone Number of Person Authorized to Receive
    Notices and Communications)


    August 15, 2023
    (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 ss.240.13D-1(e), 240.13d‑1(f) or 240.13d-1(g), check the following box [_].
     


    CUSIP No.
    Y7542C130
       

    1.
    NAME OF REPORTING PERSONS
     
         
     
    Scorpio Holdings Limited
     
         

    2.
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
       
    (a)
    [_]
       
    (b)
    [X]

    3.
    SEC USE ONLY
     
         
         

    4.
    SOURCE OF FUNDS
     
         
     
    WC
     

    5.
    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
     
    [_]
         
         

    6.
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
         
     
    The Republic of the Marshall Islands
     

    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
         

    7.
    SOLE VOTING POWER
     
         
     
    0
     

    8.
    SHARED VOTING POWER
     
         
     
    3,706,735
     

    9.
    SOLE DISPOSITIVE POWER
         
     
    0
     

    10.
    SHARED DISPOSITIVE POWER
     
    [_]
         
     
    3,706,735
     

    11.
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
     
     
    PERSON
     
         
     
    3,706,735
     

    12.
    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
     
     
    CERTAIN SHARES
     
       
    [_]

    13.
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
     
         
     
    6.9%
     

    14.
    TYPE OF REPORTING PERSON
     
         
     
    CO
     

    CUSIP No.
    Y7542C130
       

    1.
    NAME OF REPORTING PERSONS
     
         
     
    Annalisa Lolli-Ghetti
     
         

    2.
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
       
    (a)
    [_]
       
    (b)
    [X]

    3.
    SEC USE ONLY
     
         
         

    4.
    SOURCE OF FUNDS
     
         
     
    OO
     

    5.
    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
     
    [_]
         
         

    6.
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
         
     
    Italy
     

    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
         

    7.
    SOLE VOTING POWER
     
         
     
    298,010
     

    8.
    SHARED VOTING POWER
     
         
     
    3,706,735
     

    9.
    SOLE DISPOSITIVE POWER
         
     
    298,010
     

    10.
    SHARED DISPOSITIVE POWER
     
    [_]
         
     
    3,706,735
     

    11.
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
     
     
    PERSON
     
         
     
    4,004,745
     

    12.
    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
     
     
    CERTAIN SHARES
     
       
    [_]

    13.
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
     
         
     
     7.5%
     

    14.
    TYPE OF REPORTING PERSON
     
         
     
    IN
     

    CUSIP No.
    Y7542C130
       

    1.
    NAME OF REPORTING PERSONS
     
         
     
    Scorpio Services Holding Limited
     
         

    2.
    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
       
    (a)
    [_]
       
    (b)
    [X]

    3.
    SEC USE ONLY
     
         
         

    4.
    SOURCE OF FUNDS
     
         
     
    WC
     

    5.
    CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
     
    [_]
         
         

    6.
    CITIZENSHIP OR PLACE OF ORGANIZATION
     
         
     
    The Republic of the Marshall Islands
     

    NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
         

    7.
    SOLE VOTING POWER
     
         
     
    0
     

    8.
    SHARED VOTING POWER
     
         
     
    2,854,536
     

    9.
    SOLE DISPOSITIVE POWER
         
     
    0
     

    10.
    SHARED DISPOSITIVE POWER
     
    [_]
         
     
    2,854,536
     

    11.
    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
     
     
    PERSON
     
         
     
    2,854,536
     

    12.
    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
     
     
    CERTAIN SHARES
     
       
    [_]

    13.
    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
     
         
     
     5.3%
     

    14.
    TYPE OF REPORTING PERSON
     
         
     
    CO
     



    CUSIP No.
    Y7542C130
       
         
    Explanatory Note:
     
    This Amendment No. 2 to the Schedule 13D that was originally filed on May 15, 2020 (the “Schedule 13D”) relates to the common stock, par value $0.01 per share (the “Common Shares”) of Scorpio Tankers Inc., a corporation formed under the laws of the Republic of the Marshall Islands (the “Issuer”). This Amendment No. 2 is being filed to reflect transactions in the Common Shares by the Reporting Persons since the prior filing.
     
     
     
         
    Item 1.
    Security and Issuer.
     

     
    There are no material changes to the Schedule 13D.
     
     

    Item 2.
     
    Identity and Background.
     
    Item 2 of the Schedule 13D is hereby amended and restated in its entirety as follows:
     
    This Schedule 13D is being filed on behalf of the following:
     
    Scorpio Holdings;
     
    Scorpio Services Holding Limited, a corporation formed under the laws of the Republic of the Marshall Islands (“SSH”), and a wholly-owned subsidiary of Scorpio Holdings; and
     
     
    Annalisa Lolli-Ghetti, the majority shareholder of Scorpio Holdings (“Ms. Lolli-Ghetti”, and together with Scorpio Holdings and SSH, the “Reporting Persons”).
     
    Ms. Lolli-Ghetti may be deemed the beneficial owner of approximately 7.5% of the Issuer’s outstanding Common Shares, Scorpio Holdings may be deemed the beneficial owner of approximately 6.9% of the Issuer’s outstanding Common Shares, and SSH may be deemed the beneficial owner of approximately 5.3% of the Issuer’s outstanding Common Shares.
     
    The principal business of Scorpio Holdings is acting as a holding company for SSH and certain other companies.
     
    The principal business of SSH is the provision of administrative services relating to the ownership and operation of vessels, including to the Issuer and unaffiliated third parties.
     
     
    The principal business address and principal office address of each of the Reporting Persons is 99 Boulevard du Jardin Exotique, MC 98000, Monaco.
     
    The identity, present principal occupation/employment, citizenship and business address of the executive officers, directors, and controlling persons of the Reporting Persons, other than Ms. Lolli-Ghetti for whom such information is provided elsewhere herein, (together, the “Principals”) is set forth below.
     

    Name
    Principal Occupation and Employment (1)
    Citizenship
    Emanuele Lauro
    Director and Chief Executive Officer of Scorpio Holdings, SSH, the Issuer, Eneti Inc,  and other entities within the Scorpio group of companies.
     
    Italy
    Robert Bugbee
    Director and President of Scorpio Holdings, SSH, the Issuer, Eneti Inc.,  and other entities within the Scorpio group of companies.
     
    Britain
    Cameron Mackey
    Director and Chief Operating Officer of Scorpio Holdings, SSH, the Issuer, , and other entities within the Scorpio group of companies, and Chief Operating Officer of Eneti Inc.
     
    USA
    Filippo Lauro
    Director and Vice President of Scorpio Holdings, SSH, and other entities within the Scorpio group of companies, and Vice President of the Issuer, and Eneti Inc. 
    Italy
    Brian Lee
     
    Chief Financial Officer of Scorpio Holdings, SSH, the Issuer, and other entities within the Scorpio group of companies.
     
    USA

     
    (1)  The business address of the Principals, Eneti Inc, and other entities within the Scorpio group of companies is 99 Boulevard du Jardin Exotique, MC 98000, Monaco.
    The Reporting Persons, and, to the best of their knowledge, the Principals, have not, during the last five years, been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors).
    The Reporting Persons, and, to the best of their knowledge, the Principals, have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws.



    Item 3.
    Source and Amount of Funds or Other Consideration.
     

     
    Item 3 of the Schedule 13D is hereby amended to include the following:
     
    Between December 24, 2020 and August 15, 2023,  SHL acquired an aggregate of 300,000 Common Shares in open market transactions using funds from working capital.
     

    Item 4.
    Purpose of Transaction.
     
     There are no material changes to the Schedule 13D.
     

    Item 5.
    Interest in Securities of the Issuer.
     
         
     
    Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows:
     

    (a,b)
    According to the Issuer’s Report on Form 6-K, filed with the Securities and Exchange Commission on August 15, 2023, the Issuer has 53,513,544 Common Shares outstanding. Based on the foregoing, as of the date of this filing:
     
    Ms. Lolli-Ghetti may be deemed the beneficial owner of 4,004,745  Common Shares, representing approximately 7.5% of the Issuer’s outstanding Common Shares and Scorpio Holdings may be deemed the beneficial owner of 3,706,735  Common Shares, representing approximately  6.9% of the Issuer’s outstanding Common Shares. Scorpio Holdings and Ms. Lolli-Ghetti have the shared power to vote and dispose of 3,706,735 of these Common Shares. Ms. Lolli-Ghetti has the sole power to vote and dispose of 298,010 Common Shares.
     
    SSH may be deemed the beneficial owner of 2,854,536 Common Shares, representing approximately 5.3%  of the Issuer’s outstanding Common Shares. SSH, Scorpio Holdings and Ms. Lolli-Ghetti have the shared power to vote and dispose of these Common Shares.
     
     
    As of the date of this filing, the Principals may be deemed to be the beneficial owners of an aggregate of 4,791,125 Common Shares, with the sole power to vote and dispose of the Common Shares that each Principal respectively owns.
     
     
    (c)
    Except as otherwise disclosed herein, no transactions in the Common Shares were effected by the Reporting Person during the past 60 days.
     
     
     
     
    (d)
    No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the Common Shares beneficially owned by the Reporting Persons or the Principals.
     
     
     
     
    (e)
     Not applicable.
     

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

     
    There are no material changes to the Schedule 13D.
     

    Item 7.
    Material to be Filed as Exhibits.

    Not applicable.
     

         
         
         


    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: August 17, 2023

     
    SCORPIO HOLDINGS LIMITED*
         
     
    By:
    /s/ Filippo Lauro
       
    Name: Filippo Lauro
       
    Title:   Director and Vice President

     
    SCORPIO SERVICES HOLDING LIMITED*
         
     
    By:
    /s/ Filippo Lauro
       
    Name: Filippo Lauro
       
    Title:   Director and Vice President

     
    ANNALISA LOLLI-GHETTI*
         
       
    /s/ Annalisa Lolli-Ghetti
         
         


    * The Reporting Person specifically disclaims beneficial ownership of the securities reported herein 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).

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