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Further to the stock exchange notice issued by Havila Shipping ASA (the
") on 9 November 2016 regarding the proposed restructuring plan (the
"Restructuring Plan
"), the Issuer would, in relation to the contingency plan referred to in said
stock exchange notice, like to clarify that the likely alternative in the
event that the Restructuring Plan is disapproved by the unsecured
bondholders, is bankruptcy. Although stakeholders have prepared a contingency
plan for such scenario, decisions on how to proceed will then be made by the
bankruptcy estate in co-operation with i.a. the secured lenders.

Contact persons for further information are:

Njål Sævik
Chief executive officer
+47 909 35 722

Arne Johan Dale
Chief financial officer
+47 909 87 706
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Letter Clarification Plan

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Havila Shipping ASA via Globenewswire

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