HUNTER GROUP ASA – CAPEX UPDATE

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November 2. 2018

Reference is made to Hunter Group ASA’s press release earlier today. Hunter Group ASA would, for the sake of good order, like to give an update on the near-term capital expenditure schedule of the company following today’s announcement of the acquisition of one additional vessel.

With the first installment for vessel number eight (H.No. 5470) expected in Q1 2019 and the second installment not due until October 2019, Hunter Group ASA is fully funded until June 2019, and consequently has no immediate plans to issue additional equity.

Furthermore, Hunter Group ASA has been in touch with shareholders, representing close to 50 percent of the shares, who are positive to the transaction and has stated a clear intent to part take in future equity offerings.

The list of investors contacted include, but is not limited to, Apollo Asset (Fredly), Songa Trading (Arne Blystad), Sundt AS, Swap Invest (Rivelsrud), Tigerstaden AS and Middelborg AS

Contacts:

Erik Frydendal, CEO

Phone: +47 957 72 947

E-mail: ef@huntergroup.no

About Us

Hunter Group ASA is a publicly traded investment company listed on the Oslo Axess. Hunter Group currently has 7 high spec VLCC's with scrubbers under construction at DSME in Korea.

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