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Annual Report 2012

Annual Report 2012

4)In December

4)In December 2012, the Company sold shares in subsidiary companies to the subsidiary Eitzen Chemical ShipholdingAS for USD 1 each company. Refer to note 6 for further information.Note 13 – Subsequent eventsOn 4 January 2013 the Company finalized the new loan agreements with its syndicate banks and the trustee ofthe bond loan.On 17 January 2013 the exchange of bonds was implemented in accordance with the restructuring proposaladopted at the bondholders’ meeting held 7 December 2012.On 5 February 2013 the Company held an extraordinary general meeting whereby a reverse share split in theratio 100:1 was approved. The company’s share capital is currently NOK 846,016,800 divided by 11,280,224shares, each with a nominal value of NOK 75.72

Oslo, 15 March 2013The Board of Directors of Eitzen Chemical ASAAage Rasmus Bjelland FigenschouChairman of the BoardCarl Erik SteenHelene Jebsen AnkerHeidi Marie PetersenPer Sylvester JensenChief Executive Officer73

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