As announced on 1 February 2016, stock listed Bulk Invest ASA (formerly Western Bulk ASA) has sold its 100% owned subsidiary Western Bulk Chartering AS ('WB Chartering') to Kistefos Equity Operations AS, an entity wholly controlled by Kistefos AS. The sale was done through an accelerated auction process involving identified interested parties.

WB Chartering is now an independently operating chartering company wholly controlled by Kistefos AS. It is no longer part of the Bulk lnvest group. WB Chartering, with its subsidiaries Western Bulk Carriers AS and Western Bulk Pte Ltd, continue operate as before, with same set-up and staff. The Western Bulk brand name and logo, as well as relevant systems and infrastructure was transferred to WB Chartering as part of the sale.

Kistefos AS has informed Bulk Invest ASA that it intends to offer the existing shareholders of Western Bulk ASA to acquire a pro rata portion of the Western Bulk Chartering Group. For more information, please visit: www.bulkinvest.no

Western Bulk ASA issued this content on 09 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 February 2016 16:20:27 UTC

Original Document: http://www.westernbulk.com/on-wb/news-archive/wester-bulk-chartering-transfer-of-ownership