Hansa Investment Company Limited (LSE:HAN) a fund managed by Hanseatic Asset Management LBG reached preliminary agreement to acquire Ocean Wilsons Holdings Limited (LSE:OCN) from Christopher Townsend, Victualia Limited Partnership and others for approximately £250 million on June 17, 2025. Under the terms of the Scheme, Ocean Wilsons shareholders would be entitled to receive, in exchange for their Ocean Wilsons shares, new Hansa shares, which will be issued in units comprising one Hansa voting ordinary share and two Hansa non-voting 'A' ordinary shares ("Hansa Share Units"), being the same ratio in which Hansa's shares are currently issued. It is proposed that, on completion of the Possible Combination, Andrey Berzins and Christopher Townsend, existing directors of Ocean Wilsons, will join the Board of Hansa. Under the terms of the Scheme, Ocean Wilsons shareholders would be entitled to receive, in exchange for their Ocean Wilsons shares, new Hansa shares, which will be issued in units comprising one Hansa voting ordinary share and two Hansa non-voting 'A' ordinary shares ("Hansa Share Units"), being the same ratio in which Hansa's shares are currently issued. In addition, the Possible Combination is expected to be conditional on the approval by the requisite majority of holders of Hansa voting ordinary shares present and voting of resolutions to authorise the issue of Hansa shares to Ocean Wilsons shareholders and to amend Hansa's existing investment policy so as to permit the acquisition of further Ocean Wilsons shares in connection with the Possible Combination, as well as on customary matters relating to the admission to listing and trading of the new Hansa shares. The Possible Combination is subject to the satisfaction or waiver of a number of customary pre-conditions, including, amongst other things, the completion of mutual confirmatory due diligence to the satisfaction of Hansa and Ocean Wilsons and the definitive agreement of terms in respect of the Possible Combination. Accordingly, there can be no certainty that the Possible Combination will proceed, nor as to its terms.

Winterflood Securities Limited acted as financial advisor to Hansa, Peel Hunt LLP acted as financial advisor to Ocean Wilsons, Dentons UK and Middle East LLP is acting as legal adviser to Hansa as to English law, and Conyers Dill & Pearman Limited is acting as legal adviser to Hansa as to Bermudian law, in each case in connection with the Possible Combination. Slaughter and May is acting as legal adviser to Ocean Wilsons as to English law, and Carey Olsen Bermuda Limited is acting as legal adviser to Ocean Wilsons as to Bermudian law, in each case in connection with the Possible Combination.