Hunter Group ASA – Establishment of USD 15m Revolving Credit Facility with Apollo Asset Ltd.

Oslo, 1 October 2019

Hunter Tankers AS, a wholly owned subsidiary of Hunter Group ASA (the “Company”), has today entered into a USD 15.0 million revolving credit facility agreement (“RCF”) with Apollo Asset Ltd., a company owned by Hunter Group ASA's board member Mr. Arne Fredly.  Subsequently, the company has cancelled the outstanding USD 3.0 million RCF.  The new facility will carry a total interest rate of 5.00% p.a. all inclusive.  The facility may be cancelled at any time, by either party, whereupon the outstanding amount will become due and payable.

The facility will be used to finance the group’s working capital requirements, as well as general corporate purposes.

Contact:

Erik A.S. Frydendal, CEO, ef@huntergroup.no, Ph.: +47 957 72 947

Lars M. Brynildsrud, CFO, lb@huntergroup.no, Ph.: +47 932 60 882

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

About Us

Hunter Group ASA is a publicly traded investment company listed on the Oslo Axess. Hunter Group currently has 8 high spec VLCC's with scrubbers under construction at DSME in Korea.

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