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2016-05-12

Solvang : 1st Quarter report 2016

Highlights;

* Earnings from shipping activities of NOK 47.7 million, up from NOK 32.8
million in first quarter 2015.
* Earnings from ship owning companies of NOK 45.5 million, up from 27.7
million in first quarter 2015.
* Earnings before tax of NOK 47.7 million, up from NOK 35.4 million in first
quarter 2015.
* Successful consolidation of multiple ship owning companies to increase
efficiency and cash-pooling.
* Successful refinancing of LGC ship owning company
* 882 days without lost time incidents (LTI), and only 4 LTI in the last 8
years.

Complete report for 1st Quarter 2016 is enclosed.

Stavanger 12 May 2015
Solvang ASA

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

1st Quarter report 2015
http://hugin.info/143/R/2012197/745272.pdf

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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: Solvang via Globenewswire

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