Belships

Legal Proceedings Report • Mar 31, 2025

Compulsory acquisition - approval of guarantee

Compulsory acquisition - approval of guarantee

Oslo Børs, in capacity as take-over supervisory authority, has approved payment guarantee pursuant to the Securities Trading Act section 6-22 3rd sub-section no. 3 in connection with compulsory acquisition of shares in Belships ASA without preceding mandatory offer. In this respect, Oslo Børs has also considered the other relevant conditions applicable for the exemption to present a mandatory offer pursuant to the Securities Trading Act section 6-22 3rd sub-section.

Blue Northern BLK Ltd. has resolved to effect a compulsory acquisition of the shares in Belships ASA not already held by Blue Northern BLK Ltd., pursuant to the Public Limited Liability Companies Act section 4-25.

The price offered under the compulsory acquisition is NOK 20.50 per share, which would have been the minimum offer price for a mandatory offer from Blue Northern BLK Ltd. to the shareholders of Belships ASA.

Attached is a copy of the guarantee document issued by DNB Bank ASA for the benefit of those that are subject to the compulsory acquisition. The guarantee document includes, amongst others, information on the deadline for presenting claims under the guarantee, the address for delivery of claims and the documentation that must be submitted.