Fjord Defence Group ASA

AGM Information • Sep 12, 2018

Songa Bulk ASA - notice of extraordinary general meeting, proposal to distribute extraordinary dividend

Songa Bulk ASA - notice of extraordinary general meeting, proposal to distribute extraordinary dividend

The shareholders of Songa Bulk ASA (the "Company") are invited to attend an extraordinary general meeting to be held on 3 October 2018 at 10.00 am (CET) at the Company's offices, c/o Arne Blystad AS, at Haakon VII's gate 1, N-0161 Oslo, Norway.

As settlement in the transaction with Star Bulk Carriers Corp. ("Star Bulk"), the Company received partial consideration of 13,688,000 consideration shares in Star Bulk (the "Consideration Shares"). Following completion i) of the dividend payment of USD 151 million as resolved on 6 July and ii) completion of the share capital reduction in the amount of NOK 178.3 million on 21 August 2018, the Company still holds for distribution approximately 702,985 Consideration Shares.

The Board of the Company has called for the extraordinary general meeting proposing approval of the dividend distribution of an amount corresponding to the fair market value of the remaining 702.985 Consideration Shares. The extraordinary dividend will be based on an audited interim balance sheet proposed to be approved by the extraordinary general meeting.

For further information regarding the proposed extraordinary dividend, please see the separate key date information notice published by the Company today.

The Board has further proposed that the extraordinary general meeting resolves to cancel warrants issued by the Company.

The notice of the extraordinary general meeting is attached to this announcement.

For further information, please contact:

CEO Thomas Rønningen

tr@blystad.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.