Gram Car Carriers increases to 97.5% ownership in the mid-size car carrier Mediterranean Sea

Oslo, 4 September 2023: Gram Car Carriers ASA (“GCC”) has agreed to acquire a further 21.6% equity ownership for a total consideration of USD 6.10 million, in Gram Car AS, the single purpose company owning the Pure Car Truck Carrier the Mediterranean Sea (5,000 CEU, built 2010).

The transaction is expected to support increased dividend distributions and is financed with available liquidity.

GCC is the commercial manager of Gram Car AS and held an initial 1% of the shares outstanding prior to a series of acquisitions announced earlier this year and today, bringing total ownership to 97.5%. The transactions provide an implicit valuation of the Mediterranean Sea of USD 34.2 million.    

For further information, please contact:

CEO Georg A. Whist
Telephone: +47 41 60 16 81
E-mail: georg.whist@gramcar.com   

Head of Projects and IR Mas Gram
Telephone: +47 95 41 00 93
E-mail: mas.gram@gramcar.com

About Gram Car Carriers:
GCC is the world's third-largest tonnage provider within the Pure Car Truck Carriers (PCTCs) segment with 20 vessels, across the Distribution, Mid-size and Panamax segments. The Company serves as a trusted provider of high-quality vessels and logistics solutions ensuring safe, efficient and punctual shipment of vehicles for a network of clients comprising of major global and regional PCTC operators.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange notice was published by Mas Gram, Head of Projects and IR at Gram Car Carriers ASA, on 4 September 2023 at 22.55 CEST.

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