Reference is made to the announcement by Belships ASA (the “Company”) the on 10 December 2019 regarding the acquisition of an Ultramax bulk carrier built in 2017 by a Japanese shipyard. Belships is pleased to announce that the vessel has now been delivered and named BELHAVEN.

As part of the consideration for the vessel, and based on the authorisation granted by the Company’s annual general meeting on 14 May 2020, the board of directors has resolved to increase the Company’s share capital by the issuance of 15,950,699 shares to the sellers of BELHAVEN. Following the registration of the share capital increase with the Norwegian Register of Business Enterprises, the Company’s share capital will be NOK 456,350,808, divided by 228,175,404 shares, each with a par value of NOK 2.

Source: Belships ASA