Nimrod Sea Assets Limited Investment Update (6460P)

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RNS Number : 6460P

Nimrod Sea Assets Limited

19 February 2016

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN, OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY JURISDICTION IN WHICH SUCH AN OFFER OR SOLICITATION IS UNLAWFUL.

NIMROD SEA ASSETS LIMITED

Investment Update

19 February 2016

Despite recent remarketing efforts, no credible offer has been received to purchase the DSV Alliance from DSV Alliance DIS, the Norwegian partnership which owns the vessel and in which Nimrod Sea Assets Limited (NSA) is the majority shareholder.

NSA has therefore advised the directors of DSV Alliance AS (the general partner of the partnership) that it will no longer provide financial support for the maintenance of the vessel. In light of this, winding up proceedings in Norway are being commenced in respect of both DSV Alliance AS and DSV Alliance DIS.

NSA will write off its entire investment in the DSV Alliance which had a book value of US$2 million at 30 September 2015. This represented 2.23% of the published NAV as at 30 September 2015.

For further information please contact:

Nimrod Capital LLP + 44 (0) 20 7382 4565

Richard Bolchover

Marc Gordon

END OF ANNOUNCEMENT

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February 19, 2016 11:45 ET (16:45 GMT)