Avance Gas Holding Ltd: Final extraordinary distribution of USD 0.74 per share

16 Apr 2025 07:01 CEST

Hamilton, Bermuda. April 16, 2025

This refers to the Fourth Quarter 2024 Earnings Release announced on February
12, 2025. In that release, the Company stated that it would distribute a final
dividend of approximately $0.70 per share upon receiving the remaining $34.2
million from Exmar in connection with the sale of the four Mid-Sized Gas
Carriers (MGCs). We are pleased to announce that the final settlement with Exmar
has been received. As a result, the Company will proceed with a final
extraordinary distribution of $0.74 per share, totalling $56.7 million, of which
$0.16 per share is return of capital and $0.58 per share is dividend. Key
information of the extraordinary distribution is published in a separate press
release.

As announced in our third-quarter presentation on November 27, 2024, and
reaffirmed in our fourth-quarter presentation on February 12, 2025, Avance Gas
has completed the sale of all its assets and has been returning capital to
shareholders, with today's announced extraordinary distribution marking the
final payment. The Company is not planning to make new investments and are
proceeding with the winding-up process where the next step is a Special General
Meeting. A separate notice of this meeting will be published, to appoint a
liquidator and to resolve the delisting of Avance Gas. The last trading date of
the shares will be determined by the Oslo Stock Exchange, which we anticipate
will occur in June 2025.

The Company will publish its First Quarter 2025 Report on April 25, 2025. Given
the limited level of activity, there will be no accompanying presentation or
webcast. Press releases will be issued to announce the resolutions passed at the
Special General Meeting and to provide updates on the delisting process.

For further information, please contact:

Randi Navdal Bekkelund, CFO

Email: ir@avancegas.com

Tel: +47 23 11 40 00


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

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