Belships Completes Merger with Lighthouse Group

Maritime Activity Reports, Inc.

December 11, 2018

Pic: Belships

Pic: Belships

Norway-based  bulk ship operator and management company Belships has finalized its merger with Lighthouse Group after receiving an approval of the merger plan by the extraordinary general meeting (AGM).

"All the conditions for the completion of the merger, including the expiry of the creditor notice period, have been fulfilled and the Merger has been registered as completed by the Norwegian Register of Business Enterprises today on 10 December 2018," said a press statement.

Belships ASA has upon completion of the merger issued 127,765,993 consideration shares to the shareholders of the assigning companies, and following the issuance there are 175,117,993 shares outstanding in Belships ASA, each with a nominal value of NOK 2. The new share capital of the Company is NOK 350,235,986.

Two months ago, Belships ASA announced a merger between certain subsidiaries of Kontrari (the Lighthouse Companies) and one or more subsidiaries of Belships with consideration in Belships shares.

A reference was then made to the stock exchange announcement made by Belships on 6 July 2018 regarding the acceptance by Sonata of an offer from Kontrari AS and Kontrazi AS relating to a contemplated sale of 14,285,714 shares (30.2%) in the Company from Sonata to Kontrari.

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