Western Bulk Chartering AS - Share Issue/Capital Change 2017

Western Bulk Chartering AS - Ex. date share subscription rights

Reference is made to the announced plan to issue new

shares in Western Bulk Chartering AS (the "Company")

and the extraordinary general meeting held on 15

December 2016 which authorized the board of directors

in the Company to issue up to 4 million new shares in

order to raise the NOK equivalent of USD 15 million in

new equity (the "Offering").

As previously communicated to the shareholders, the

Offering of new shares will be directed only to the

149 largest shareholders in the Company.

The board of directors has resolved to direct the

Offering towards the 149 largest shareholders of the

Company as of 30 December 2016, as registered in the

Norwegian Central Securities Depositary (the "VPS") on

3 January 2017 (the "Record Date") with the exception

of shareholders that are resident in a jurisdiction

outside Norway where such offering would be unlawful,

or would require a full prospectus, registration or

similar action (the "Eligible Shareholders"). Each

shareholder account in VPS will be treated separately

and not combined for investors owning shares through

different VPS accounts. Shares purchased or sold after

30 December 2016 will be exclusive of the right to

subscribe for new shares.

Please see enclosed for the full press release.

For more information, please contact:

Jens Ismar, Chief Executive Officer

Tel: +47 9009 0897

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