In the new suggested structure, Den Norske Amerikalinje AS (owning the 12% shareholding in Hyundai Glovis) is demerged from WWASA and carried forward in a separately listed entity to be named Treasure ASA.

'The proposed demerger will improve transparency and create a simpler structure visualising values for shareholders in WWASA,' says Thomas Wilhelmsen, group CEO of WWH. 'In addition, WWASA will be more correct capitalised following the restructuring.'

'From our perspective, the proposed restructuring enables WWASA to focus on their core activities, while we at the same create a new entity which we can utilize to create shareholder value,' says Wilhelmsen.
Shareholders in WWASA will receive their prorate share in Treasure ASA, and WWH will therefore own 72.7% of the shares in the new entity.

Treasure ASA will be jointly and severally responsible for the obligations incurred by WWASA parent company prior to the demerger becoming effective.

The proposed changes are subject to approval at an extraordinary general meeting in WWASA to be held in April 2016 (to be confirmed).

The intention is to complete the restructuring and list Treasure ASA during the second quarter.

For further information, contact
 Åge S Holm, IRO
tel: +47 900 87 670 (mob)

Benedicte Teigen Gude, GVP corporate communications
tel: +47 959 07 951 (mob)

Wilh. Wilhelmsen Holding ASA is a global maritime industry group focusing on shipping and integrated logistics services for cars and rolling cargo through its shareholding in Wilh. Wilhelmsen ASA. The group occupies a leading position in the global maritime service industry through Wilhelmsen Maritime Services AS, delivering products and services to some 200 shipyards and 24 000 vessels annually. Through Wilh. Wilhelmsen Holding Invest AS the group aims at exploring and developing new opportunities within the energy-, offshore- and maritime industry. For more information, visitwww.wilhelmsen.com.

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Wilh. Wilhelmsen Holding ASA issued this content on 10 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 February 2016 17:44:03 UTC

Original Document: http://www.wilhelmsen.com/about/invest/financialnews/Pages/wwh–restructuringWWASA.aspx