Detailed stock exchange announcement: Proposed demerger of Wilh. Wilhelmsen ASA with transfer to Treasure ASA and call for an EGM

Detailed stock exchange announcement: Proposed
demerger of Wilh. Wilhelmsen ASA with transfer to
Treasure ASA and call for an EGM

Reference is made to the stock exchange notice of 10
February 2016 regarding the proposed restructuring of
the Wilh. Wilhelmsen ASA (WWASA), whereby the shares
in Den Norske Amerikalinje AS (owning the 12.04%
shareholding in Hyundai Glovis Co. Ltd. (Hyundai
Glovis) is demerged from WWASA and merged into a
separately entity, Treasure ASA, which will be listed
on Oslo Børs upon the completion of the demerger.

The board of directors of WWASA and Treasure ASA today
announce that they have signed a joint demerger plan
and resolved to propose to the respective general
meetings that the shareholders shall approve the
demerger of WWASA, whereby all WWASA's shares in Den
Norske Amerikalinje AS are transferred to Treasure ASA.

An EGM to deal with the demerger is to be held on 20
April 2016.

The detailed stock exchange announcement, as well as
the demerger documents and notice to an EGM is
attached hereto.