OW Bunker - Commencement of in-court restructuring procedure in two subsidiaries

COMPANY ANNOUNCEMENT
6 November 2014
No. 26/2014



      COMMENCEMENT OF IN-COURT RESTRUCTURING PROCEDURE IN TWO SUBSIDIARIES

Following the announcement on November 5, 2014 (company announcement 25/2014)
regarding fraud in Singapore and significant risk management loss, the board of
directors regrets that it has not been able to find a solution with the
syndicate banks. On this basis, it has been decided to file for commencement of
in-court restructuring procedure in the subsidiaries O.W. Bunker & Trading A/S
and O.W. Supply & Trading A/S at the probate court in Aalborg. The main
operational activities of the group are located in these companies, which are
expected to be insolvent.

The purpose of the in-court restructuring procedure is to establish an overview
of whether a basis for continued operations of the companies can be established,
including a basis for injecting further capital or other similar solution.

For the time being, the financial impact cannot be assessed, however, it must be
assumed that the group's equity is lost.

In court restructuring procedure is aimed at debtors who are insolvent but where
there is a chance that all or part of the debtor's business may be able to
continue operations after the completion of a restructuring. The procedure is
intended to provide a tool for management and creditors alike, offering the
possibility of rescuing an insolvent business, and thereby preserving its
assets, rather than proceeding straight to the filing of a bankruptcy petition.


For further information, please contact:
Niels Henrik Jensen, Chairman of the Board of Directors, tel.: +45 20 23 21 88
Jim Pedersen, CEO OW Bunker, tel.:  +45 98 12 72 77


This announcement contains forward-looking statements. Any forward-looking
statements involve known and unknown risks, uncertainties and other important
factors that could cause our actual results, performance, achievements or
industry results, to differ materially from any future results, performance or
achievements expressed or implied by such forward-looking statements. Should one
or more of these risks or uncertainties materialise, or should any underlying
assumptions prove to be incorrect, our actual financial condition, cash flows or
results of operations could differ materially from what is described herein as
anticipated, believed, estimated or expected.

In the event of any discrepancy between the Danish and the English version of
this announcement, the English version shall prevail.



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