Appointment of new CEO of Hunter Group ASA, new chairman of Dwellop AS and a related party transaction

The board of directors of Hunter Group ASA ("Hunter Group" or the "Company") has appointed Mr. Vegard Urnes as new interim Chief Executive Officer ("CEO") of Hunter Group. To this effect, the Company has entered into a consultancy agreement with Middelborg AS, where Mr. Urnes is employed as Investment Manager. His employment as CEO in Hunter Group takes effect immediately.

Mr. Urnes has over 15 years of experience from corporate finance, with main focus on the oil service sector. Mr. Urnes has previously worked with corporate finance at Goldman Sachs, ProCorp and NRP Securities, before he founded Navis Finance in 2013, a M&A boutique with focus on alternative capital to the oil service and shipping sectors. Mr. Urnes holds a four year programme in economics and business administration consisting of three years at bachelor/undergraduate level and one year at master/graduate level (“Siv Øk”) from the Norwegian School of Management (BI) and is a Certified European Financial Analyst from the Norwegian School of Economics (NHH).

Further, the Company has entered into a consultancy agreement with Mr. Eirik Bergsvik where Mr. Bergsvik shall provide the Company with general assistance related to business development and related commercial aspects related to the wholly owned subsidiary Dwellop AS as well as other parts of the Company. Mr. Bergsvik will also take on the position as chairman of the board of directors of Dwellop AS.

Mr. Bergsvik has held a number of leading positions within the oil service industry, most recently as CEO of Interwell AS (2011 – 2016), board member at MHWirth and as Managing Director of National Oilwell Varco Norway AS (2006 – 2011).  

The Company has further entered into a consultancy agreement with Middelborg AS, pursuant to which Mr. Kristian Gjertsen Lundkvist shall act as transaction advisor to the Company. The consultancy agreement has been entered into at market terms, with inter alia a success fee payable for transactions resulting from Mr. Lundkvist's services.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Oslo, 23 May 2017

For further information, please contact:
Vegard Urnes, CEO of Hunter Group ASA, at +47 905 85 432 

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