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Oslo, 26 October 2023 - Web Holding Limited (the "Offeror") refers to the
composite offer document dated and published 23 October 2023 (the "Offer
Document") issued by the Offeror and BW Epic Kosan Ltd. (the "Company"), in
connection with the recommended voluntary unconditional offer (the "Offer") for
all the issued and paid-up ordinary shares in the capital of the Company (the
"Shares").
All capitalised terms used but not defined herein shall have the same meanings
given to them in the Offer Document, unless otherwise expressly stated or the
context otherwise requires.
The Offeror wishes to announce that:
(a) As at 16:00 CEST on 25 October 2023, the Offeror has received valid
acceptances amounting to 92,525,248 Shares, representing approximately 58.0% of
the total number of Shares, and this includes acceptances received from Odfjell
SE and BW Group Limited, pursuant to their respective Irrevocable Undertakings,
amounting in aggregate to 86,389,920 Shares, representing approximately 54.1% of
the total number of Shares.
(b) As at 9 October 2023, being the date of the Offer Announcement, the Offeror
and parties acting in concert with it collectively owned or controlled an
aggregate of 65,427,545 Shares, representing approximately 41% of the total
number of Shares.
(c) From the date of the Offer Announcement and up and until 16:00 CEST on 25
October 2023, the Offeror and parties acting in concert with it have not
acquired or agreed to acquire any Company Shares (other than pursuant to valid
acceptances of the Offer).
Accordingly, as at 16:00 CEST on 25 October 2023, the total number of (a) Shares
owned, controlled or agreed to be acquired by the Offeror and persons acting in
concert with it