BW Epic Kosan Ltd.

09/20/2021 | Press release | Distributed by Public on 09/20/2021 03:51

SHARE ISSUANCE RELATED TO THE TRANSACTION WITH ODFJELL GAS SHIPOWNING AS AND EXERCISE OF SHARE OPTIONS

Singapore, 20 September 2021 - Reference is made to the stock exchange announcement published by BW Epic Kosan Ltd. (ticker 'BWEK', 'BW Epic Kosan' or the 'Company') on 17 September 2021 regarding the delivery of a 9,000 cbm ethylene capable carrier Bow Gallant acquired from Odfjell Gas Shipowning AS against a combination of cash and 3,444,806 shares. Pursuant to the authorisation to issue shares granted by the shareholders in the annual general meeting, the board of directors of the Company has resolved to issue a total of 3,444,806 to Odfjell Gas Shipowning AS. Post-completion, there are 155,955,561 shares issued, and Odfjell Gas Shipowning AS will hold 2.2% of the shares. Furthermore, the Company announces that 66,667 share options have been exercised, giving the holder a right to 66,667 shares at a strike price of US$2.05. Pursuant to the authorisation to issue shares granted by the shareholders in the annual general meeting, the board of directors of the Company has resolved to issue an additional 66,667 shares to settle the option exercise. Post-completion of both share issuances, there are 156,022,228 shares issued in the Company. Please refer to the attached announcement for further details. BW Epic Kosan Ltd. www.bwek.com [email protected]