Havila Shipping ASA: The Financial Supervisory Authority of Norway (Finanstilsynet)– Order following control of the company’s financial accounts

Reference is made to the stock exchange announcement from Finanstilsynet published today after checking the company's accounts for 31.12.19 and 30.06.20.

The report from Finanstilsynet states that the company shall carry out new impairment assessments of the company's offshore vessels for the relevant accounting periods.

The control from Finanstilsynet started in March 2020 and has now been concluded.

As is appear in the report from Finanstilsynet, the company has continuously aligned itself with the conditions pointed out by Finanstilsynet and with which the company has agreed.

Finanstilsynet has notified the company of a 5-week deadline to appeal the decision to the Ministry of Finance.

Before the appeal deadline expires, the company will take a position on the appeal issue and at the same time assess the consequences of compliance with the order from Finanstilsynet.

The company will inform the market as soon as a conclusion of the assessments is available.

If the company complies with the order, this will affect reported results and equity in historical periods. A correction will not have a significant impact on the group's equity on 31.12.21

Contacts:
CEO Njål Sævik, +47 909 35 722
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