Klaveness Combination Carriers

Notice from Bondholders' Meeting

Notice from Bondholders' Meeting - FRN Klaveness Ship

Holding AS

Senior Unsecured Bond Issue 2014/2020" (ISIN NO

001070587.4) with ticker KSH02 PRO (the "Bond Issue"

or the "Bonds")

Reference is made to the stock exchange notice on 22

November 2016 concerning the summons to a bondholders'

meeting in the Bond Issue to propose certain

amendments to the Bond Agreement.

The bondholders' meeting has now been held. There were

sufficient bondholders present at the meeting to form

a quorum. The proposed resolution obtained 100% of the

votes, and the proposal was adopted according to the

voting requirements of the Bond Agreement. The Bond

Agreement will therefore be amended as set out in the

summons to the meeting.

Furthermore, the Issuer shall, subject to the

completion and full settlement of the New Bond Issue

(as further described in the summons letter as of 22

November 2016), redeem the Bonds in full at 101.54% of

par value, plus accrued and unpaid interest no later

than 10 Business Days after the settlement date of the

New Bond Issue.

The Mandatory Redemption of the KSH02 PRO Bond Issue

will be 9 December 2016. Record date will be 7

December 2016.

For further information, please contact:

Lasse Kristoffersen (CEO, Torvald Klaveness), Tel.:

+47 22 52 62 38

Rebekka Glasser Herlofsen (CFO, Torvald Klaveness),

Tel.: +47 22 52 64 41

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