Nordic Shipholding — Share Issue/Capital Change 2013

Dec 16, 2013

December 16, 2013

NORDIC SHIPHOLDING A/S

Company announcement no. 12/2013

NORDIC MARITIME EXERCISES OPTION TO SUBSCRIBE FURTHER SHARES

In light of the development of Nordic Shipholding A/S's cash position, as
announced by the Company in company announcement no. 11/13 published on 13
December 2013, Nordic Maritime has informed the Company that it will exercise
the option granted to Nordic Maritime in the conditional restructuring
agreement entered into between the Company and Nordic Maritime on 22 November
2013, to subscribe further shares against a cash payment to the Company of USD
2 million at completion of the restructuring. Assuming a successful completion
of the conditional restructuring agreement, the exercise of the option, will
imply that following completion existing shareholders in the Company will hold
approx. 9.6% of the shares, the Company's lending banks approx. 14.4% and
Nordic Maritime will hold approx. 76%.

Further, the temporary working capital facility mentioned in the Company's
announcement no. 9/2013 published on 22 November 2013, has been increased to
USD 4 million and will, subject to completion of the restructuring, be made
available for general working capital purposes.

For further information, please contact:

Knud Pontoppidan, chairman of the board of directors, Nordic Shipholding A/S:
+45 3369 9083