Subsequent events

Solvang has decided to merge their fully owned subsidiary, International Gas Carriers (IGC), into Solvang ASA as of 01.01.2016.

Solvang ASA has also agreed to sell 37,5% of its ownership share in Partrederiet Clipper Sirius DA. New ownership share in the company will be 18,75%. The sale will generate a profit of approximately USD 2.9 million in the accounts for second quarter 2016. Moreover, it is exercised a purchase option for the vessel Clipper Harald with effect in July 2016.

There are no other subsequent events of material concern.