Gram Car Carriers: Completion of acquisition of mid-size car carrier Paglia

29 Nov 2022 14:50 CET

Reference is made to the stock exchange notice by Gram Car Carriers ASA (the
"Company") on 31 October 2022 regarding the contemplated acquisition of the pure
car truck carrier "Paglia" (5,000 CEU) (the "Transaction").

The Company is pleased to announce that the Transaction has been successfully
completed by the Company's 100% owned subsidiary, Gram Car Carriers Shipowning
AS (the "Purchaser") and MS "Paglia" GmbH & Co. KG (the "Seller"), a 100% owned
subsidiary of F. Laeisz GmbH ("F. Laeisz"). Of the total purchase price of USD
49 million, USD 39.2 million has been settled in cash (the "Cash Payment") and
USD 9.8 million has been settled by the issuance of a seller's credit by the
Purchaser. The seller's credit will be contributed to the Company against the
issuance of 563,218 new shares in the Company to F. Laeisz, at a subscription
price of USD 17.4 (equal to approximately NOK 172.4) per share (the
"Consideration Shares").

The Cash Payment has been facilitated by a drawdown of an accordion facility
under the Purchaser's existing senior secured credit facility, under which the
available commitments have been increased from USD 262 million to USD 302
million for the purpose of the Transaction. The Consideration Shares will be
issued by the Company's board of directors pursuant to the authorization granted
by the annual general meeting on 12 May 2022. Further details will be disclosed
in due course.

F. Laeisz has agreed to a 12-month customary lock-up undertaking with respect to
the Consideration Shares.

For more information, please refer to the Company's stock exchange notice of 31
October 2022.

Contacts:

CEO, Georg A. Whist

Telephone: +47 41 60 16 81

E-mail: georg.whist@gramcar.com

Head of Projects and IR, Mas Gram

Telephone: +47 95 41 00 93

E-mail: mas.gram@gramcar.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act. This stock exchange notice
was published by Mas Gram, Head of Projects and IR at Gram Car Carriers ASA, on
29 November 2022 at 14.50 CET.

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