Hunter Group ASA – Improved financing terms

Oslo, 30 August 2019

Hunter Tankers AS (the «Company»), a wholly owned subsidiary of Hunter Group ASA, is pleased to announce that it has agreed to enter into a binding term sheet for a 5-year sale-and-leaseback agreement with a large leasing company at highly attractive terms.

The Board is of the opinion that the agreement is beneficial to all shareholders as it retains maximum flexibility for the Company and eliminates the need for any additional equity in order for the Company to take delivery of all vessels in the newbuilding program.  Consequently, the Company has cancelled the senior secured term loan announced on May 22 2019.

Further details will be provided upon closing of the transaction.

Contact: 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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