Reverse split of shares


Shareholdings that are not divisible by 20 will be rounded up to the nearest full share after the amalgamation since it is not possible to receive fractions of a share. The company has agreed with its major shareholder that Aker Maritime ASA will, free of charge, hand over the necessary number of shares, in order to allow for this rounding up. The transaction is excepted to be concluded by the end of the same week. The individual shareholder will not have to take action in this process. For holder of ADR's, separate procedures apply which will be communicated by JPMorgan Chase Bank separately.

After the transaction, the company's share capital will be 894,133,920, distributed on 44,706,696 shares with a par value of NOK 20.