Following the acquisition, Hemen holds 22,535,853 shares in Avance, equalling 29.11% of the shares and votes in Avance.
In addition, Frontline Ltd, a company in which Hemen holds approximately 40.0% of the shares, owns a total of 442,384 shares in Avance, resulting in an aggregate holding of 22,978,237 shares equalling 29.68% of the shares and votes in Avance. The foregoing calculations are made based on 77,426,972 outstanding shares.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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