Belships

Major Shareholding Notification • Dec 10, 2018

Belships ASA : Primary insider notice and disclosure of large shareholding

Belships ASA : Primary insider notice and disclosure of large shareholding

Oslo, 10 December 2018

Reference is made to the stock exchange announcement made by Belships ASA

("Belships" or the "Company") today regarding the completion of the merger

between Belships Chartering AS, a wholly-owned subsidiary of Belships (as the

assignee company) and LHS Holdco AS, LHS Holdco II AS, LHN Holdco 1 AS and LHN

Holdco 2 AS (as the assigning companies) (the "Merger"), and the issuance of the

consideration shares by Belships.

Following completion of the Merger:

· Sonata AS owns 17,461,778 shares, representing 10% of the shares and votes in

the Company,

· Kontrari AS and Kontrazi AS, companies which are coordinating the exercise of

shareholder rights on behalf of Frode Teigen and family in the Company, own

120,452,246 shares, representing 68.8% of the shares and votes in the Company,

· Nepa owns 13,330,834 shares, representing 7.6% of the shares and votes in the

Company.

This information is subject to the disclosure requirements set out in sections

4-2 and 4-3 of the Norwegian Securities Trading Act.