Philly Shipyard — Major Shareholding Notification 2019

Jul 19, 2019

Disclosure of Large Shareholding Acquisition in Philly Shipyard ASA

Disclosure of Large Shareholding Acquisition in Philly Shipyard ASA

Solas Capital Management, LLC (“Solas”) acts in the capacity of discretionary investment manager for multiple partnerships and a managed account and is entitled to exercise voting rights on their behalf. In this capacity, Solas has on 18th July 2019 acquired 17,000 Philly Shipyard ASA (NO0010395577) shares. As a result, the number of shares and voting rights owned by the funds and accounts under management by Solas has reached the 5% threshold. Solas now manages 640,000 Philly Shipyard ASA shares with voting rights attached, which equates to 5.09% of the total number of shares issued by Philly Shipyard ASA. This disclosure is made pursuant to Section 4-3 of the Norwegian Act on Securities Trading.