Nekkar - Capital/Financing Update 2019

TTS Group ASA: Summons to bondholder meeting re extension of convertible bond

Reference is made to Q1.2019 report published by TTS Group ASA (TTS) 29 May

2019. The contemplated transaction between TTS and MacGregor/Cargotec is still

awaiting clearance from Chinese authorities. Due to the short term profile of

the company's credit facilities (falling due July 2019) the company has

initiated a process to extend both bank facilities and convertible bond in order

to secure funding in case of further delays, but also to give time to plan and

implement refinancing of TTS on a potential stand-alone basis.

TTS is in dialogue with its banks (Nordea and DNB) about extension of the

company's banking facilities for four months (until 1 November 2019) contingent

upon approval of a proposed four month extension of the company's convertible

bond loan, which expires 18 July 2019. Consequently an extension of the bond

loan is proposed with four months. TTS has received indications from a 2/3

majority of the bondholders that they intend to support such proposal.

The bondholders are now being summoned to a bondholders' meeting to take place

on 17 June 2019. The summons to the bondholders' meeting is enclosed.

Bergen, 31 May 2019

TTS Group ASA

www.ttsgroup.com

Contact person:

Toril Eidesvik

CEO

M: +47 900 78 218

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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