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2016-02-18

Philly Shipyard ASA: Key information relating to the cash dividend to be paid by PHLY

Dividend amount: USD 0.25 per share

Declared currency: USD

Last day including right: 23 February 2016

Ex-date: 24 February 2016

Record Date: 25 February 2016

Payment date: on or about 4 March 2016

Approval date: 17 February 2016

Other information: The dividend is classified for accounting purposes as a
repayment of previous paid in share premium.

***

Philly Shipyard is a leading U.S. commercial shipyard constructing vessels for
operation in the Jones Act market. It possesses a state-of-the-art
shipbuilding facility and has earned a reputation as the preferred provider
of oceangoing merchant vessels with a track record of delivering quality
ships. Philly Shipyard is listed on the Oslo Stock Exchange and is
majority-owned by Aker Capital II AS, which in turn is majority-owned by Aker
ASA. Aker is a Norwegian industrial investment company that creates value
through active ownership. Aker's investment portfolio is concentrated on key
Norwegian industries that are international in scope: oil and gas, fisheries
and biotechnology, and marine assets. Aker's industrial holdings comprise
ownership interests in Aker Solutions, Kvaerner, Det norske oljeselskap, Aker
BioMarine, Ocean Yield, Havfisk and Akastor.

This information is published in accordance with the requirements of the
Continuing Obligations.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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: Philly Shipyard ASA via Globenewswire

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