Magnora ASA

Related Party Transaction • Jan 21, 2014

Mandatory notification of trade

Mandatory notification of trade

On 21 January 2014, Teekay Services Holdings

Coöperatief U.A., an affiliated company of Teekay

Corporation ("Teekay"), purchased 1,801,784 shares in

Sevan Marine ASA (the "Company") at a price of NOK

23,40 per share from Iliad International AS, an

affiliated company of Teekay.

Following the transaction, Teekay, through Teekay

Services Holdings Coöperatief U.A., owns 22,893,631

shares in the Company, which constitutes 43.52% of

the total number of shares and votes in the Company.

Following the transaction, Iliad International AS

owns no shares in the Company.

Teekay is represented by Ingvild Sæther (chairman) on

the board of directors of the Company.

This information is subject to the disclosure

requirements pursuant to Section 4-2 of the Norwegian

Securities Trading Act.