Hunter Group ASA Third Quarter Results 2018

Financial highlights

Net Profit from continuing operations came in at NOK 5.2m in Q3 2018 

Total operating expenses from continuing operations was NOK 1.6m.

Adjusted Cash position as of 30.9.2018 was NOK 717,9m consisting of NOK 306m and USD 51,45m

Key events in Q3 2018

On 6 July the NOK 52m subsequent offering was successfully completed at a price of NOK 3.2/sh.

On 7 July USD 20m was purchased at a USDNOK rate of 8.0.

On 15 August the Company received an Extension on the declaration date for the Option Vessels until 17 September. Option price is still USD 92m/vessel and all three vessels are to be delivered in 1H 2021.

On 27 September the Company received a further Extension on the declaration date for the Option Vessels until 19 October 2018. Price USD 92m/ vessels and all three vessels are to be delivered in 1H 2021.

On 27 September Hunter Group ASA became one of the founding members of the Clean Shipping Alliance (CSA). CSA represents a group of leading companies from the commercial shipping and cruise industries that have been leaders in emission control efforts and have made significant investments in research and analysis, funding and committing resources to comply with 2020 fuel requirements through the development and use of Exhaust Gas Cleaning Systems (EGCS). The Alliance aims to support and educate on the use and effectiveness of EGCS in order to help achieve shared environmental and sustainability initiatives. (Founding members of the Alliance include: Carnical Corporation, DHT Holdings, Eagle Bulk Shipping, Frontline Ltd., Golden Ocean Group, Hunter Group ASA, Navig8 Group, Okeanis Eco Tankers, Oldendorff Carriers, Safe Bulk Carriers, Spliethoff, Star Bulk Carriers Corp. Torm and Trafigura.)

Plan approval process is well underway and close to completion. Management is very pleased with both progress and outcome.

Site team member selection process has been completed, and contracts have been signed.

Contacts:

Erik A.S. Frydendal, CEO

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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