MPC Container Ships ASA

Share Issue/Capital Change • Jul 10, 2020

MPC Container Ships ASA announces allocation of shares to primary insiders

MPC Container Ships ASA announces allocation of shares to primary insiders

Oslo, 10 July 2020 - Reference is made to the stock exchange announcement made

by MPC Container Ships ASA ("MPCC" or the "Company") on 10 July 2020 regarding

the successful completion of a private placement with gross proceeds of NOK

260,000,000 by issuance of 260,000,000 new shares at a subscription price of NOK

1.00 per share (the "Private Placement").

The Private Placement was fully underwritten by existing shareholders and

primary insiders in the Company: STAR Spike Ltd. (a fund managed by STAR Capital

Partnership LLP) ("STAR"), CSI Beteiligungsgesellschaft mbH and associated

parties ("CSI") and Pilgrim Global ICAV ("Pilgrim", and jointly with STAR and

CSI, the "Underwriters"). Each Underwriter is entitled to an underwriting

commission of 4% of its underwriting commitment in the Private Placement in

excess of its pro rata portion of the Private Placement (the "Underwriting

Commission"). The Underwriting Commission shall be settled in full by issuance

of new shares to the Underwriters at the subscription price in the Private

Placement (the "Underwriting Commission Shares").

Pursuant to the authorisation given to the Board of Directors at the Company's

ordinary general meeting on 28 April 2020, the Board of Directors has today

resolved to issue 6,353,127 new shares as Underwriting Commission Shares in

order to settle the Underwriting Commission to the Underwriters. The issuance of

the Underwriting Commission Shares is conditional upon the completion of the

Private Placement by the extraordinary general meeting in the Company, including

the issuance of the Underwriting Commission Shares. The share capital increase

pertaining to the issuance of the Underwriting Commission Shares is expected to

be registered with the Norwegian Register of Business Enterprises simultaneous

with the registration of the share capital increase pertaining to the Private

Placement.

STAR has been allocated 72,710,028 new shares in the Private Placement

(including Underwriting Commission Shares) and will hold 90,915,254 shares in

the Company, which represents 25.41% of the Company's shares and voting rights.

CSI has been allocated 55,847,428 new shares in the Private Placement (including

Underwriting Commission Shares) and will hold 69,907,623 shares in the Company,

which represents 19.54% of the Company's shares and voting rights. Pilgrim has

been allocated 15,440,376 new shares in the Private Placement (including

Underwriting Commission Shares) and will hold 19,180,146 shares in the Company,

which represents 5.36% of the Company's shares and voting rights.

This information is subject to the disclosure requirements set out in section 4

-2 of the Norwegian Securities Trading Act.

Further information and contact:

For further information, please contact ir@mpc-container.com.

About MPC Container Ships ASA:

MPC Container Ships ASA (ticker code "MPCC") was formed in April 2017. Its main

activity is to own and operate a portfolio of container ships with a focus on

the feeder segment between 1,000 and 3,000 TEU. The Company is registered and

has its business office in Oslo, Norway. For more information, please see our

webpage: www.mpc-container.com.