Saga Tankers ASA :SAGA TANKERS ASA - KEY INFORMATION RELATED TO COMPLETION OF SHARE CAPITAL DECREASE THROUGH DISTRIBUTION TO SHAREHOLDERS

Reference is made to the minutes from the extraordinary general meeting held on
4 July 2017 and the pertaining stock exchange notice, whereby the general
meeting resolved to decrease the company's share capital with NOK
263,488,332.69 from NOK 266,149,831.00 to NOK 2,661,498.31 through reduction of
the par value of the shares from NOK 1 per share to NOK 0.01 per share. In
addition, the general meeting resolved to distribute NOK 127,515,543.33 through
reduction of other paid-in equity.

The reduction amount, including the reduction of other paid-in equity, shall be
used as distribution to the shareholders of Saga Tankers ASA.

Please find below key information related to the distribution:

Distribution amount 1.47 per share

Declared currency NOK

Last day including right 31 August 2017

Ex-date 1 September 2017

Record Date 4 September 2017

Payment Date 6 September 2017

Date of approval 4 July 2017


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For further information, please contact:
CEO Espen Lundaas
+47 92 43 14 17
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.