Belships ASA : 25 per cent of Belships shareholders accept mandatory offer

When the offer period for Kontrari AS’ and Kontrazi AS’ mandatory offer for all outstanding shares in Belships ASA expired, shareholders representing 7.11 per cent of the shares had accepted the offer.
“We see the acceptance rate as an expression of confidence in Belships and our growth strategy. A majority of the shareholders who were recipients of the mandatory offer have decided to remain on board,” said Belships CEO, Lars Christian Skarsgård.
In December 2018, subsidiaries of Kontrari AS and Kontrazi AS (the Lighthouse companies) merged with Belships to form a significant ship owning company in the supramax/ultramax dry bulk segment. Following recent acquisitions and a newbuilding, the Group will operate a fleet of 18 vessels.
The Oslo Stock Exchange Appeals Committee on 28 February 2018 ruled that the merger triggered an obligation by Kontrari AS and Kontrazi AS to present an offer to acquire all outstanding shares in Belships ASA. Consequently, an offer to acquire all outstanding shares at a share price of NOK 7.00 per share was presented by the offerors.
When the offer period expired at 16:30 CET on Friday 12 April, 2019, 113 shareholders representing a total of 7.11 per cent of the Belships shares had accepted the offer. 
Following the acceptances, Kontrari AS and Kontrazi AS currently have a combined shareholding of 75.89% in Belships ASA. The ultimate owner of the two companies is Frode Teigen, board member of Belships ASA.
For further information, please contact Lars Christian Skarsgård, Belships CEO, phone +47 977 68 061 or e-mail

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