Stainless Tankers ASA

M&A Activity • Nov 7, 2023

STST: Stainless Tankers ASA announces acquisition of two chemical tankers

STST: Stainless Tankers ASA announces acquisition of two chemical tankers

STST: Stainless Tankers ASA announces acquisition of two chemical tankers

November 7, 2023 – Stainless Tankers ASA (the “Company”, ticker: “STST”) announces that it has entered into agreements (“MOAs”) to acquire two (2) 2005 built J19 stainless steel chemical tankers for a combined purchase price of $27.0 million. Concurrently with signing the MOAs, the Company entered into an upsize loan agreement to increase the existing loan facility by $27.0 million in order to fund the purchase, which is expected to close on or around November 15, 2023.

Contact:

Alex Karakassis, CEO: alex.karakassis@tufton.com

Erol Sarikaya, CFO: erol.sarikaya@tufton.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) Article 7 and is subject to the disclosure requirements pursuant to section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Richard Taylor, company secretary of Stainless Tankers ASA, on November 7, 2023 at 21:05 CET on behalf of Stainless Tankers ASA.

About Stainless Tankers:

Stainless Tankers ASA (ticker code “STST”) is a shipping company specialized in providing seaborne transportation of chemical cargoes worldwide. The Company provides investors with pure-play stainless steel chemical tanker exposure in an investor friendly structure through its fleet of seven stainless steel vessels, each with an approximate total carrying capacity of 20,000dwt. The fleet is managed by Tufton, with a primary focus on maximizing earnings and distributing excess operating cashflows to shareholders. For more information, please visit www.stainlesstankers.com.