Belships

M&A Activity • Apr 29, 2024

Belships ASA: Change in ownership of Lighthouse Navigation

Belships ASA: Change in ownership of Lighthouse Navigation

Belships has entered into an agreement to divest its stake of 50 per cent in

Lighthouse Navigation Pte Ltd against a cash consideration which will be paid to

Belships over the next 15 months. As part of the transaction, Belships has

acquired 33 per cent of the shares in Lighthouse Navigation Management AS,

increasing Belships' ownership to 67 per cent. Closing of the transaction has

been completed.

"Ever since incorporation Lighthouse Navigation has been a success story, and

this ownership change is to focus and simplify Belships' involvement within dry

bulk operating businesses. This is a transaction conducted in good spirit, and

the commercial management of the Belships fleet will continue to be handled in

the same manner as today, in co-operation between the offices in Bangkok and

Oslo", said Lars Christian Skarsgård, CEO of Belships ASA.

Lighthouse Navigation Pte Ltd, incorporated in 2009, operates from offices

across Asia and Australia. Lighthouse Navigation Management AS is incorporated

in Norway and conducts business from its office in Oslo.

For further information, please contact: Lars Christian Skarsgård, CEO, phone

+47 977 68 061 or e-mail LCS@belships.no

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This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act