Belships - Major Shareholding Notification 2019

Belships ASA : Disclosure of large shareholding

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

"Company" or "Belships") on 29 May 2019 regarding the completion of the private

placement and today, 3 June 2019, regarding completion of the acquisition of the

58,700 dwt bulk carrier "Viola" from Wenaas Shipping AS (the "Transaction") and

the issuance of consideration shares by Belships.

Wenaasgruppen AS was allocated 2,512,625 shares in the private placement. In

addition, and as announced earlier today, its subsidiary Wenaas Shipping AS has

received 8,060,650 new shares as consideration in connection with the

Transaction. In total, Wenaasgruppen AS with close associates therefore holds

10,573,275 shares in Belships, which based on the new share capital registered

today equals 5.5% of the shares and votes in the Company.

This information is subject of the disclosure requirements pursuant to section

4-3 of the Norwegian Securities Trading Act.

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