Reference is made to the announcement by Northern Ocean Ltd. ("NOL") of 14
August 2024 regarding the final results of Hemen Holding Limited's ("Hemen")
mandatory offer (the "Offer") for all the issued and outstanding shares in NOL
(the "Shares") not already owned by Hemen at an offer price of NOK 7.00 per
share. Hemen received acceptances of the Offer amounting to 20,175,590 Shares,
which taken together with the 144,373,315 Shares held by Hemen prior to the
Offer equals 164,548,905 Shares, representing approximately 54.3% of the issued
share capital and voting rights in NOL. Consequently, Hemen has surpassed the
50% threshold set out in the Norwegian Securities Trading Act.
This notification is made pursuant to Section 4-2 of the Norwegian Securities
Trading Act.