GC Rieber Shipping: Compulsory Acquisition

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About GC Rieber Shipping:
GC Rieber Shipping is a shipowner and project-house with focus on developing profitable and sustainable maritime projects.

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

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

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