Reference is made to the stock exchange releases of Western Bulk Chartering AS
(“Western Bulk” or the “Company”) dated 20 and 28 May 2026 concerning an offer
to acquire own shares in connection with the Company’s employee share purchase
program.
The Company’s board of directors has resolved to acquire 893,611 shares at a
price of NOK 20 per share. The settlement will take place on or about 26 June
2026. As a result of the buy back, the Company owns 893,611 own shares,
corresponding to 2.7% of the share capital and voting rights in the Company.
All the shares will subsequently be sold to employees of the Company through the
Company’s employee share purchase program.
CEO and primary insider Torbjørn Gjervik will purchase 83,972 shares through his
newly established investment company TG INV AS at a purchase price of NOK 14 per
share. His total holding of shares in the Company after this purchase will be
83,972 shares through TG INV AS and 133,026 shares in his own name.
CFO and primary insider Kenneth Thu will purchase 83,971 shares through his
investment company KTHU AS at a purchase price of NOK 14 per share. His total
holding of shares in the Company after this purchase will be 180,971 shares
through KTHU AS.
The remaining 725,668 shares will be purchased by a group of about 30 employees.