Reference is made to announcement by Songa Bulk AS ("Songa
Bulk", Merkur: SBULK-ME) on 20 February 2017 in respect of
its new share capital following a private placement of
shares. North East Star Maritime Ltd., which prior to the
placement held 6.305% of the shares of Songa Bulk, was
allotted 267,100 of the 20,000,000 shares issued. As a
consequence, its holding passed below the 5% threshold and
currently amounts to 3,533% (based on a holding of 1,267,100
shares and a total of 35,860,000 shares in issue). North
East Star Maritime Ltd. does not hold any rights to
additional shares or votes.