Bruton Limited (BRUT) – Completion of a Private Placement of USD 110 million

Hamilton, Bermuda, 21 October 2025
 
Bruton Limited (Euronext Growth Oslo: BRUT) (the “Company”) hereby refers to its press releases on 13 October 2025 and 20 October 2025 regarding a private placement (the “Private Placement”) of the NOK equivalent of up to USD 100 million in new Norwegian Depository Receipts (“NDRs”) representing new underlying common shares on a one-to-one basis (the “Private Placement Shares”).
 
The Private Placement has now been completed and the Company has resolved to increase the amount of the Private Placement to the NOK equivalent of approximately USD 110 million. In total, 25 636 900 Private Placement Shares have been allocated at USD 4.29 per share (the “Offer Price”).
 
Notice of conditional allocation and payment instructions to the applicants in the Private Placement will be communicated by the Managers (as defined below) on or about 22 October 2025. Delivery of the Private Placement Shares allocated in the Private Placement is expected to be settled through a delivery versus payment ("DVP"), expected on or about 24 October 2025. The Private Placement Shares are expected to be pre-paid by the Managers, pursuant to a pre-payment arrangement, to facilitate prompt issue of the Private Placement Shares.
 
The completion of the Private Placement is subject to customary conditions, including the issuance of the Private Placement Shares, and the due registration of the Private Placement Shares in Euronext VPS as NDRs.
 
The NDRs issued for the Private Placement Shares are not tradeable on Euronext Growth Oslo before the share capital increase pertaining to the Private Placement Shares has been completed and the NDRs have been registered in the Norwegian Central Securities Depository (Euronext Securities Oslo or the “VPS”). The Company will announce when such registration has taken place.
 
The Board has carefully considered the structure of the equity raise in light of the applicable rules and regulations concerning equal treatment. The Board is of the view that it will be in the common interest of the Company and its shareholders to raise equity through a private placement, in particular because the Private Placement enables the Company to secure equity financing to accommodate the Company's funding requirements. Further, a private placement will reduce execution and completion risk, as it enables the Company to raise equity efficiently and in a timely manner, with a lower discount to the current trading price, at a lower cost and with a significantly reduced completion risk compared to a rights issue. It has also been taken into consideration that the Private Placement is based on a publicly announced accelerated bookbuilding process.
 
Advisors
Clarksons Securities AS is acting as Global Coordinator and Joint Bookrunner and ABG Sundal Collier ASA, Arctic Securities AS, DNB Carnegie, a part of DNB Bank ASA, and Fearnley Securities AS are acting as Joint Bookrunners (together the “Managers”). Ro Sommernes advokatfirma DA is acting as legal advisor to the Company in connection with the Private Placement.
 
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange notice was published by Vidar Hasund, Contracted Chief Financial Officer, on the date and time as set out in the release.  
 
About Bruton Limited:
Bruton Limited is an industrial player incorporated in Bermuda and seeking to make strategic investments in the shipping, offshore and energy sectors, currently focusing on its VLCC newbuilding program.