HAFNIA LIMITED: Information about the Proposed Redomiciliation to Singapore – Distribution of Practice Statement Letter

Rhea-AI Summary

Hafnia (OSE: HAFNI, NYSE: HAFN) proposes a redomiciliation from Bermuda to Singapore through a scheme of arrangement. The Supreme Court of Bermuda will hold a hearing on August 5, 2024, to give directions for convening a shareholder meeting. The redomiciliation, expected in Q4 2024, will maintain Hafnia's assets, liabilities, board, and management. The company's name and stock tickers will remain unchanged, but it will receive a new registration number, ISIN code, and CUSIP number. Hafnia's new registered office will be in Singapore.

Hafnia, part of the BW Group, is a leading tanker owner with over 200 vessels, offering integrated shipping services including technical management, commercial and chartering services, pool management, and bunker operations. The company employs over 4,000 people and has offices in Singapore, Copenhagen, Houston, and Dubai.

Positive

• Redomiciliation maintains company's assets, liabilities, board, and management
• Company name and stock tickers (OSE: HAFNI, NYSE: HAFN) remain unchanged
• Hafnia operates a fleet of over 200 vessels
• Company offers fully integrated shipping platform

Negative

• None.

SINGAPORE--(BUSINESS WIRE)-- The board of directors of Hafnia Limited ("Hafnia” or the "Company", OSE ticker code: “HAFNI”, NYSE ticker code: “HAFN”) proposes to implement a scheme of arrangement (the "Scheme") between the Company and its shareholders pursuant to Section 99 of the Bermuda Companies Act 1981 as amended (the "Bermuda Companies Act”) in order to effect a discontinuance of the Company from Bermuda and continuance to Singapore in accordance with the provisions of Section 132G of the Bermuda Companies Act and Part 10A of the Singapore Companies Act 1967 (the "Redomiciliation").

There will be a hearing on 5 August 2024 at 11:00 a.m. (Bermuda time) at which the Supreme Court of Bermuda will be asked to give directions as to the convening of a meeting of shareholders of the Company that are eligible to vote on the Scheme (the “Convening Hearing”).

Please see the attached practice statement letter for further information about the proposed Scheme and the Convening Hearing which has been distributed to the shareholders today. Further information about the Scheme and the effects of the Redomiciliation will be made available to the shareholders following the Convening Hearing.

Subject to the Scheme being effective, the proposed Redomiciliation will be carried out by way of a discontinuance and continuance process, whereby the Company is continued into Singapore as the same company. Under Singapore law, the transfer of domicile will be a direct redomiciliation from Bermuda, and the Company will accordingly have the same assets and liabilities as prior to redomiciling. The board of directors and the management of the Company will also remain the same.

The Company’s name, Hafnia Limited, and tickers on the Oslo Stock Exchange and the New York Stock Exchange will remain the same after the Redomiciliation. The Company will have a new company registration number, a new ISIN code, and a new CUSIP number following the Redomiciliation, but it will retain the same LEI code. The Company's registered office will be the current office address in Singapore, 10 Pasir Panjang Road, #18-01, Mapletree Business City, Singapore 117438.

The effective date of the Redomiciliation is expected to be in Q4 2024.

* * *

About Hafnia Limited:

Hafnia is one of the world's leading tanker owners, transporting oil, oil products and chemicals for major national and international oil companies, chemical companies, as well as trading and utility companies.

As owners and operators of over 200 vessels, we offer a fully integrated shipping platform, including technical management, commercial and chartering services, pool management, and a large-scale bunker desk. Hafnia has offices in Singapore, Copenhagen, Houston, and Dubai and currently employs over 4000 employees onshore and at sea.

Hafnia is part of the BW Group, an international shipping group involved in oil and gas transportation, floating gas infrastructure, environmental technologies, and deep-water production for over 80 years.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20240721580289/en/

For further information:

Mikael Skov

CEO Hafnia Limited

+65 8533 8900

Source: Hafnia Limited

FAQ

What is Hafnia 's proposed redomiciliation plan?

Hafnia (NYSE: HAFN) proposes to redomicile from Bermuda to Singapore through a scheme of arrangement, maintaining its assets, liabilities, board, and management. The process is expected to be completed in Q4 2024.

When is the Bermuda Supreme Court hearing for Hafnia's redomiciliation?

The Supreme Court of Bermuda will hold a hearing on August 5, 2024, at 11:00 a.m. (Bermuda time) to give directions for convening a shareholder meeting regarding Hafnia's (NYSE: HAFN) proposed redomiciliation.

Will Hafnia's stock ticker (HAFN) change after the redomiciliation?

No, Hafnia 's stock tickers on the Oslo Stock Exchange (HAFNI) and the New York Stock Exchange (HAFN) will remain the same after the proposed redomiciliation to Singapore.

What changes will occur to Hafnia (HAFN) after the redomiciliation?

After redomiciliation, Hafnia (NYSE: HAFN) will have a new company registration number, ISIN code, and CUSIP number. However, it will retain the same LEI code, and its name, assets, liabilities, board, and management will remain unchanged.