Belships

Belships ASA : Final result of mandatory offer

Reference is made to 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.

Further reference is made to the announcement on 12 April 2019 after the expiry

of the acceptance period for the Offer on 12 April 2019 at 16:30 (CET). After

the announcement was made, acceptances for an additional 460,207 were recorded,

which had been received within the time of expiry of the Offer, but which had

not been taken into account in the announcement.

Consequently, the Offerors have received acceptances of the Offer for a total of

12,904,796 shares, corresponding to approximately 7.4% of the issued shares and

votes in Belships. Together with the 120,454,198 shares already owned, the

Offerors will following completion of the Offer own a total of 133,358,994

shares, corresponding to approximately 76.2% of the issued shares and voting

rights in Belships.

Settlement of the Offer will be made as soon as reasonably possible, and no

later than 26 April 2019. Reference is made to the offer document for further

details.

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

directors of Belships ASA.

14 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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