Havila Shipping ASA

M&A Activity • Mar 8, 2018

Havila Shipping ASA: Sale of none core vessels

Havila Shipping ASA: Sale of none core vessels

Havila Shipping ASA has entered into agreements for sale of the PSV vessels

Havila Faith and Havila Favour.  The vessels are expected to be delivered to new

owner within short time.

Following the sale it is expected that the lenders and Havila Holding AS will

exercise warrants through debt conversions into new shares corresponding to

agreements decided by the General Meeting on 4(th) January 2017.  It is expected

that number of shares will increase by approximately 3,190,000 up to

approximately 22,098,000 shares following the sale.

The sale will have low impact on result and liquidity.  The equity effect of the

planned debt conversion was booked in the group accounts through the

restructuring on the 28(th) February 2017 and the sale will cause minor equity

adjustments.

Detailed message will be sent as soon as the sale processes are finalized and

warrant exercise notices have been received.

Contacts:

CEO Njål Sævik + 47 909 35 722

CFO Arne Johan Dale + 47 909 87 706

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.