Share capital increase completed

In accordance with the invitation to express initial interest of 29 May 2015 and conditions in the decision of the Management Board and the Supervisory Board of Tankerska Next Generation Inc. (hereinafter the “Company”) of 05 June 2015, subscription and payment of 1,533,345 new shares of the Company fulfilled the requirement of registration and payment of at least 1.3 to 1.6 million new shares, making this increase of share capital successful.

The Management Board, with the consent of the Supervisory Board, and based on the Decision to increase the share capital, determined the exact number of new shares increasing the share capital by issuing 1,533,345 new dematerialized ordinary registered shares, without par value, at a price of 68.00 HRK per share.

Increase of share capital and amendments of the Articles of Association have been carried out with the Decision of the Commercial Court in Zadar, as of 11 June 2015. Company's share capital was increased from HRK 360,000,000.00 by the amount of HRK 76,667,250.00 and equals to HRK 436,667,250.00, divided into 8,733,345 ordinary  dematerialized registered shares, without par value.

“This successful share capital increase justifies the listing of the Company on the Zagreb Stock Exchange yet once more – swift and efficient new capital raising for funding development as soon as supportive market circumstances arise. With the share capital increase, the Company gets to reinforce its financial standings with all presumptions to expand its fleet to 6 vessels amounting to over 300,000 dwt. I am grateful to the shareholders who have recognized and supported this investment opportunity” said John Karavanić, the Company’s CEO.