Western Bulk announces OTC listing

Western Bulk announces OTC listing from June 1st 2017.

In accordance with previous communication, Western Bulk will register on the Norwegian OTC list to facilitate the trading in our shares for our shareholders. The official registration date has been set to June 1st, 2017. Please be informed that the NOTC system is an information system for unlisted shares, not a stock exchange.

Western Bulk’s performance has gradually increased and the company is on track to deliver positive results in Q2 2017.

‘In line with, and as part of our previously communicated strategy, it has been our intention to register the company in the OTC system. The company has decided that the timing is now right to proceed with the registration, states CEO Jens Ismar.'

The listing will be announced through the N-OTC messaging system and in the company's newsletter on the date of registration. In order to subscribe to our newsletter, please go to our website www.westernbulk.com. Any questions will be addressed through email ir@westernbulk.com.

We are also pleased to announce that our new CFO, Mr. Kenneth Thu, is starting on June 1st. Mr. Thu joins us from the position as Acting CFO with Elkjøp Nordic.

For more information, please contact:
Jens Ismar, Chief Executive Officer
Tel: +47 9009 0897
E-mail: jens.ismar@westernbulk.com

Western Bulk

Email and IT-related Fraud Alert

There is an increasing risk of attempted fraud and other security threats via email. In particular, Western Bulk has noticed an increase of fraudulent requests to change bank account details of suppliers/creditors, in an attempt to redirect payments to criminals and not to the intended recipient. We encourage everyone to be vigilant and learn to detect fraudulent email instructions - seemingly legitimate emails may contain fraudulent information, this is not just a cybersecurity matter.

As a result, Western Bulk will treat any notice of bank account changes as suspicious. Urgent pressure to effect payment as soon as possible without verification of the changes will also be treated as suspicious.

Please note that Western Bulk would not inform of changes to bank account details by email notice alone. In the unlikely event that we need to change a beneficiary name or our other bank account details, we would personally contact our supplier or customer in order to personally verify any change in details.

Similarly, we ask that all our suppliers and creditors:

1. first notify us in writing and
2. personally verify any change in bank details or change in beneficiary in any payment advice to Western Bulk.

In summary, notices of bank account changes will require voice confirmation from your Western Bulk contact, either by telephone or face to face, before payment can be authorised so please make sure to notify any changes in good time.