Magnora ASA

Major Shareholding Notification • Mar 11, 2016

Disclosure of large shareholding

Disclosure of large shareholding

Name of the issuer of the shares:

Sevan Marine

Date on which the proportion of shares held reached,

exceeded or fell below the thresholds set in the

Securities Trading Act section 4-3 subsection (1):

10 March 2016

Name of the entity subject to the disclosure

obligation:

Sothic Capital European Opportunities Master Fund

Limited

The number of shares the notification encompasses:

Sold 41,589 shares on the 10th of March leaving us

with a position at the end of the 10th of 2,589,411

shares.

The subsequent situation with regard to voting rights,

including the percentage of the votes and shares of

the company held by the entity concerned:

4.92%

What percentage of the votes and shares of the company

the entity concerned holds in the form of rights to

shares:

The Fund doesn't hold rights to shares.

The circumstance that triggered the disclosure

obligation and whether such circumstance applied to

the entity concerned himself or to any related party

as mentioned in the Securities Trading Act section 2-5:

The disclosure was triggered the selling of shares by

Sothic Capital European Opportunities Master Fund

Limited

The chain of controlled undertakings through which the

shares or rights are owned:

The shares are owned by Sothic Capital European

Opportunities Master Fund Limited

Where the notification concerns rights to shares as

mentioned in the Securities Trading Act section 4-3

subsection (4) the notification shall also contain a

description of the rights, including information on

the date and time that the rights will or can be

exercised and the date and time of their expiry:

The Fund doesn't hold rights to shares