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2014-05-16

Sølvtrans ASA : BOARD ANNOUNCEMENT REGARDING VOLUNTARY OFFER ANNOUNCED BY SILVER HOLDINGS AS

STOCK EXCHANGE/PRESS RELASE

Date: 16 May 2014

SØLVTRANS - B
OARD ANNOUNCEMENT REGARDING VOLUNTARY OFFER ANNOUNCED BY SILVER HOLDINGS AS

Reference is made to the announcement by Silver Holdings AS (the "Offeror"), a
company that will be jointly owned by funds managed by Oaktree Capital
Management, L.P., Dolstein Invest AS, and A. Hvide Holding AS, companies
controlled by or associated with the Chairman and the CEO of the Company,
regarding the voluntary offer (the "Offer") to acquire all the outstanding
shares in Sølvtrans ASA ("Sølvtrans" or the "Company") at a offer price of
NOK 35 per share, subject to adjustment for the dividend proposed to be
resolved by the Company's annual general meeting to be held on 16 May 2014 of
NOK 0.60 per share.

Prior to announcement of the Offer, the Offeror and the Company represented by
the non-conflicted members of the board of directors, being Oddbjørn Lende,
Torstein Dehn, Kristin Krohn Devold and Kristin Alm (the "Board") have
negotiated and entered into a transaction agreement (the "Transaction
Agreement") as the Board concluded that the Offer Price is at a level where
the shareholders ought to be able to receive and evaluate the Offer. In
connection with the negotiating of the Transaction Agreement, the Offeror
agreed to increase the Offer Price compared to the first non-binding
indicative offer price previously provided by the Offeror.

The Board will review the offer document as soon as this has been published
and prepare and publish a statement on the Offer in accordance with the
deadlines set out in the Norwegian Securities Trading Act section 6-16. The
Board has engaged RS Platou Markets as an independent expert for the purpose
of providing an independent fairness opinion on the Offer.

Board member Torstein Dehn is the indirect owner of 80,000 shares through
Kalven Shipping AS and intends to accept the Offer unless a higher competing
offer is announced.

For more information, please contact:

Oddbjørn Lende

Tel: +47 95 19 53 03.

About Sølvtrans ASA

Sølvtrans ASA is one of the world's leading wellboat companies for transport
of live salmon and trout.

The company is leading within "closed technology", a cost efficient system
which also is positive for the environment and animal welfare.

The fleet consists of 13 modern wellboats, mainly employed on long-term
contracts with leading fish-farming companies in Norway, Scotland, Canada and
Chile. The company has one wellboat of 3.200 m³ under construction, for
delivery in the autumn of 2014.

Sølvtrans was established in 1986 and listed at the Oslo Axess in 2010. The
company has its head office in Ålesund, Norway.

For more information, please visit:www.solvtrans.no

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

BorsmeldENG
http://hugin.info/150078/R/1786161/612982.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: Sølvtrans ASA via Globenewswire

HUG#1786161

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