HAFNIA LIMITED: Mandatory Notification of Trade by Primary Insider

On April 11, 2024, Hafnia Limited, an international crude oil tanker company, announced that its Chief Financial Officer (CFO), Perry Van Echtelt, had sold 250,000 shares of the company on Oslo Børs, the Oslo Stock Exchange. The sale was made at a price of NOK 80.7261 per share.

According to the mandatory notification of trade filed with the Norwegian Securities Exchange, following the sale, Perry Van Echtelt continues to hold a total of 1,138,348 shares in Hafnia Limited. This represents approximately 0.3% of the company's total outstanding shares.

The sale by the primary insider comes after the release of Hafnia's Q1 2024 financial results on March 31, 2024. The company reported a net loss for the quarter of $11.3 million, compared to a net loss of $11.7 million in the same period last year. Revenue for the quarter was $118.3 million, up from $113.4 million in Q1 2023.

Hafnia's stock price reacted negatively to the earnings report, with the share price dropping from around NOK 83 to NOK 78 following the release. It is unclear whether the sale by Perry Van Echtelt is related to the earnings report or if it is part of a larger selling plan.

Hafnia Limited is a leading international crude oil tanker company with a fleet of 76 modern very large crude carriers (VLCCs) and two Suezmax tankers. The company's fleet is among the youngest and most modern in the industry, with an average age of approximately six years. Hafnia's fleet serves the major crude oil markets worldwide and employs over 3,300 seafarers and land-based personnel.

The sale by Perry Van Echtelt is required to be disclosed under the Norwegian Securities Trading Act and the Norwegian Securities Trading Regulations. The notification was made to the Norwegian Securities Exchange on April 11, 2024.

In summary, Perry Van Echtelt, the CFO of Hafnia Limited, sold 250,000 shares of the company on Oslo Børs on April 11, 2024, at a price of NOK 80.7261 per share. Following the sale, he continues to hold a total of 1,138,348 shares in the company, representing approximately 0.3% of the total outstanding shares. The sale comes after the release of Hafnia's Q1 2024 financial results, which showed a net loss for the quarter and caused the stock price to drop. The sale is required to be disclosed under Norwegian securities regulations.