Havila Shipping ASA

Havila Shipping ASA : Extraordinary general meeting held

Fosnavåg, 26 January 2016

The extraordinary general meeting in Havila Shipping ASA was held today, Tuesday

26 January 2016 at 14:00 hrs.

Item 1 - 3: Adopted in accordance with the summons.

Item 4: The extraordinary general meeting resolved to reduce the share capital

by NOK 362 155 188, from NOK 377 244 987.50 to NOK 15 089 799.50, by way of a

reduction of the par value of the shares from NOK 12.50 to NOK 0.50. The

resolution was adopted in accordance with the summons, save for the conditions

as referred to in section 4 of item 4, which the Board of Directors withdrew.

Item 5: The Board of Directors withdrew the proposal prior to the extraordinary

general meeting dealing with the matter.

Item 6: The Board of Directors withdrew the proposal prior to the extraordinary

general meeting dealing with the matter.

The background for the Board of Directors withdrawing the proposals for

decisions in item 5 and 6 is that the company needs more time to negotiate with

the bondholders.

The Board of Directors intends to summon the shareholders to a new extraordinary

general meeting regarding a share capital increase as soon as the details

related thereto have been settled.

The minutes from the extraordinary general meeting are attached to this

announcement.

For further details, please contact;

Havila Shipping ASA:

Njål Sævik, CEO Arne Johan Dale, CFO

Tel: +47 909 35 722 Tel: +47 909 87 706

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1981373]

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