GC Rieber AS ("GC Rieber") refers to the stock exchange notice released 28 November 2023 in connection with the result of the voluntary offer from GC Rieber to acquire all shares in GC Rieber Shipping ASA (the "Company"), where GC Rieber announced their intention to exercise its right of compulsory acquisition.

The Board of Directors of GC Rieber, effective from 07:00 CET 5 December 2023, resolved to carry out a compulsory acquisition of all remaining shares in the Company not owned by GC Rieber, pursuant to section 4-25 of the Norwegian Public Limited Liability Companies Act.

The offered redemption price under the compulsory acquisition is NOK 8.80 per share. The offered redemption price corresponds to the offer price in the completed voluntary offer to acquire all shares in the Company.

GC Rieber has deposited the aggregate redemption amount on a separate bank account with Nordea Bank in accordance with section 4-25 (5) of the Norwegian Public Limited Liability Companies Act.

Any objection to, or rejection of, the offered redemption price must be raised on or before 9 February 2024. Former shareholders in the Company who do not object to, or reject, the offered redemption price within this deadline will lose their right to object to, or reject, the offered redemption price and are deemed to have accepted the offer.

The attached letter regarding the compulsory acquisition will be sent to all former shareholders subject to the compulsory transfer whose addresses are known.

As a consequence of the compulsory acquisition, GC Rieber will have ownership of all the Shares in the Company and proceeds to apply for a delisting of the Company from Oslo Stock Exchange.

Contact information:

Einar Ytredal, CEO, GC Rieber Shipping, phone: +47 975 20 184

Silje Tonning Søgnen, CFO, GC Rieber Shipping, phone: +47 977 61 023

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