Fjord Defence Group ASA

Songa Bulk AS: Private Placement Completed - New Share Capital Registered

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR

TO U.S. NEWS WIRE SERVICES OR INTO THE UNITED STATES,

AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH

THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Oslo, 20 February 2017: Reference is made to previous

announcements published by Songa Bulk AS ("Songa bulk" or the

"Company") regarding the private placement and issuance of

20,000,000 new shares each with a nominal value of NOK 5 at a

price of NOK 42 per new share (the "Private Placement").

The share capital increase pertaining to the new shares to be

issued in the Private Placement has now been registered with

the Norwegian Register of Business Enterprises. The New Shares

will be issued in VPS under the Company's existing ISIN number

NO0010778095 and will be delivered to the investors that have

been allotted shares today. The New Shares will be listed on

Merkur Market under the Company's ticker SBULK-ME from and

including 20 February 2017.

Following completion of the Private Placement and the

registration of the share capital increase, the Company's

total share capital is now NOK 179,300,000, divided into

35,860,000 shares, each with a nominal value of NOK 5.

Clarksons Platou Securities AS and Fearnley Securities AS have

acted as Joint Lead Managers and Bookrunners in the Private

Placement.

For further information, please contact:

Herman Billung, CEO

Tel: + 47 23 01 14 34

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