Belships

Belships ASA : Minutes from extraordinary general meeting

Reference is made to the stock exchange announcement by Belships ASA (the

"Company" or "Belships") on 5 October 2018 regarding the notice of extraordinary

general meeting in the Company for the approval of the merger plan related to

the merger between Belships Chartering AS, a wholly-owned subsidiary of Belships

(as the assignee company) and LHS Holdco AS, LHS Holdco II AS, LHN Holdco 1 AS

and LHN Holdco 2 AS (as the assigning companies) (the "Merger"), and the

issuance of the consideration shares in the Merger by Belships.

The extraordinary general meeting of the Company was held today on 26 October

2018 and all items on the agenda were duly approved, including the merger plan

and the share capital increase related to the issuance of the consideration

shares in the Merger. The completion of the Merger and the issuance of the

consideration shares is expected to take place shortly after the expiry of the

creditor notice period, i.e. in the second half of December 2018, subject to

certain conditions being fulfilled.

Peter Frølich was also elected as a new member of the board of directors,

replacing Christian Rytter.

The minutes of the extraordinary general meeting are attached to this

announcement.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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