Klaveness Combination Carriers AS announces completion of USD 45.0 million private placement

Oslo, 24 September 2018: Klaveness Combination Carriers AS (“KCC” or the “Company”), the leading owner and operator of modern combination carriers, announces the successful closing of the private placement of common shares as announced on 10 September 2018.

The Company will issue 8,241,750 common shares at a subscription price of USD 5.46 per share for aggregate gross proceeds of USD 45.0 million. The net proceeds will be used to partly equity finance one declared CLEANBU newbuilding and one CLEANBU newbuilding option from Jiangsu New Yangzi with scheduled delivery in 3Q and 4Q 2020, as well as for general corporate purposes including working capital, supervision and transaction costs.

Klaveness Ship Holding AS invested USD 3.6 million in the private placement and will own approximately 63% of the outstanding share capital following issuance of the new shares.

“KCC has through this transaction taken a significant step towards growing the company and its new combination carrier service in the CPP market. Further, following the new, wide investor base, the company is well set up for potential future fund raising and eventual listing on the Oslo Stock Exchange”, says Lasse Kristoffersen, CEO of Torvald Klaveness and Chairman of KCC.

The Company’s shares will be tradable on N-OTC on or about 9 October 2018.

Clarksons Platou Securities AS acted as Sole Manager and Bookrunner in the Private Placement.

For more information please contact:

Lasse Kristoffersen, CEO Torvald Klaveness, Chairman Klaveness Combination Carriers +47 22526238