Treasure ASA

Share Issue/Capital Change • Jun 7, 2016

Wilh. Wilhelmsen ASA shares trade for last day inclusive of rights to consideration shares in Treasure ASA

Wilh. Wilhelmsen ASA shares trade for last day inclusive of rights to consideration shares in Treasure ASA

7 June 2016 - The shares in Wilh. Wilhelmsen ASA

(WWASA) will today on Tuesday 7 June 2016 trade for

the last day inclusive of rights to consideration

shares in Treasure ASA (Treasure) to be distributed in

connection with the demerger of WWASA.

The demerger, in which the shareholding in NAL,

including its 12.04% shareholding in Hyundai Glovis

Co. Ltd. is transferred from WWASA to Treasure against

a pro rata distribution of the shares in Treasure to

the existing shareholders of WWASA, was approved by

the general meetings of Treasure and WWASA on 20 April

2016. The creditor notice period applicable to the

demerger expired at 24:00 hours CET on 6 June 2016 and

the consummation of the demerger will be registered

with the Norwegian Register of Business Enterprises

following close of trading on Oslo Børs today on 7

June 2016.

The consideration shares in Treasure will be

distributed on a pro rata basis to shareholders of

WWASA as of the expiry of the 7 June 2016 (the cut-off

date), as such shareholders appear in the

shareholders' register for WWASA at the Norwegian

Central Securities Depositary (VPS) as of 9 June 2016

(the record date). Eligible shareholders will receive

one consideration share for each share they own in

WWASA as of the cut-off date as recorded in the VPS as

of the record date. It is expected that the

consideration shares will be delivered and made

available to eligible shareholders of WWASA on 10 June

2016. The consideration shares will, upon consummation

of the demerger, constitute all issued shares in

Treasure. All shares in Treasure are registered in the

VPS in book-entry form and the shares rank in parity

with one another and carry one vote per share.

From and including 8 June 2016, shares in WWASA will

trade exclusive of rights to shares in Treasure.

Treasure will from Wednesday 8 June 2016 trade under

the ticker "TRE" on Oslo Børs. Trading in the Treasure

shares will commence prior to delivery of such shares

to eligible shareholders VPS Accounts. Trades during

this period until delivery of the shares to eligible

shareholders' VPS accounts will be settled on a T+2

basis. No account-to-account transactions and no

transactions with settlement prior to 10 June 2016

will be allowed in this period.