Belships

Belships ASA : Final result and completion of mandatory offer

Reference is made to the announcement on 14 April 2019 regarding the results of

the mandatory offer (the "Offer") to acquire all issued and outstanding shares

in Belships ASA ("Belships" or the "Company") made by Kontrari AS and Kontrazi

AS (the "Offerors"), as set out in the offer document dated 14 March 2019.

Following final counting of received and approved acceptances, acceptances for a

total of 12,831,175 shares, corresponding to approximately 7.3% of the issued

shares and votes in Belships, were received by the Offerors.

Settlement and completion of the Offer has now occurred. All shares acquired

under the Offer have today been transferred to Kontrari AS, which as a result

thereof now holds 95,822,108 shares (54.7%). Kontrazi AS' holding remains at

37,463,265 shares (21.4%). Together, the Offerors now hold a total of

133,285,373 shares, corresponding to approximately 76.1% of the issued shares

and voting rights in Belships.

The Offerors are related parties to Frode Teigen who is a member of the board of

directors of Belships ASA.

26 April 2019

Kontrari AS and Kontrazi AS

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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