Havila Kystruten AS: Information about the financing of the company

The financing of the company is ordinary for companies like Havila Kystruten.  The ships are financed through leasing agreements for an agreed period.  Havila Kystruten has purchase option for the ships after two years following the delivery of each ship and purchase obligation after 10 years.

The financing of the company is through leasing companies registered in Hong Kong for Havila Capella and Havila Castor and in Ireland for Havila Polaris and Havila Pollux.  Since Havila Capella and Havila Castor is leased through companies outside EU, the company has applied for and got approval form the Ministry of Trade, Industry and Fisheries for registration of the ships in Norway.  Havila Capella is sailing under Norwegian flag in accordance with Norwegian legislation (Sjøloven).  Norwegian flag will also apply for all ships.

The situation that has arisen is unfortunate for Havila Kystruten, which complies with the current regulations implemented by Norway’s and other countries authorities.  Owner of the leasing companies in Hong Kong and Ireland is the Russian GTLK.  GTLK is not sanctioned and thus does not impede the business of Havila Kystruten and the company’s business partners in normal business activities.  Transactions related to the financing with leasing companies in Hong Kong and Ireland goes through reputable European banks.

Havila Kystruten has ongoing contact with Norwegian authorities and ensures necessary adaption to current measures and regulations.  The company follows the developments closely and takes measures that the company finds natural at any time.  The company will keep the market informed of changes affecting the company’s financing.

Contacts:
CEO Bent Martini, +47 905 99 650
CFO Arne Johan Dale, +47 909 87 706

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