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10 March 2022 – Hamilton, Bermuda
Reference is made to the stock exchange announcement by Northern Ocean Ltd (“NOL” or the “Company”) on 13 January 2022 regarding the potential subsequent offering of up to 8,000,000 NOL shares (the “Subsequent Offering”) following the completion of a private placement with gross proceeds of USD 20,000,000 (the “Private Placement”).
The Financial Supervisory Authority of Norway has approved a prospectus dated 10 March 2022 (the “Prospectus”) prepared in connection with (i) the listing of 40,000,000 new shares in the Company issued in connection with the Private Placement; and (ii) the Subsequent Offering and listing of up to 8,000,000 offer shares at a subscription price of NOK 4.45. The Prospectus and a summary of the Prospectus will be available electronically on the following website: https://www.northernocean.no/prospectus/
This information is published in accordance with the requirements of the Continuing Obligations.