Philly Shipyard to pay Dividend

On 17 February 2016, the Board of Directors of Philly Shipyard ASA (Oslo: PHLY) resolved to pay a dividend to the shareholders of PHLY as of expiry of 23 February 2016, of USD 0.25 per share, in aggregate USD 3,026,975.25. The dividend is classified for accounting purposes as a repayment of previous paid in share premium. The resolution was made pursuant to an authorization granted by the Annual General Meeting of PHLY on 15 April 2015.

The shares in PHLY will be traded ex-dividend from and including 24 February 2016. The dividend will be paid on or about 4 March 2016 to the bank account registered on the relevant shareholder's securities depository (VPS) account.