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DHT Holdings, Inc. To Acquire Saga Tankers ASA

Stocks in this article: DHT

Based upon DHT's outstanding share capital as of the date hereof and assuming a 100% acceptance level under the Offer, current DHT shareholders will have an ownership of approximately 74.8% while current Saga shareholders will have an ownership of approximately 25.2% of the combined company. Under the laws of the Republic of Marshall Islands, DHT shareholders are not required to approve the Offer or the issuance of DHT shares to Saga shareholders.

DHT is in the process of preparing the Offer Document which is expected to be filed with the Norwegian Financial Supervisory Authority during the week starting 13 June 2011. It is expected that the Offer Document will be sent to Saga shareholders during the week starting 4 July 2011. The acceptance period for the Offer will be 10 business days from the date of the Offer Document being released. The Offer will not be made in any jurisdiction in which the making of the Offer would not be in compliance with the laws of such jurisdiction. This notification does not in itself constitute an offer. The Offer will only be made on the basis of the Offer Document and can only be accepted pursuant to the terms of such document

DHT invites analysts, investors and media to a conference call for a presentation of the Offer at 11:00 a.m. (US Eastern time) on Tuesday May 31, 2011. Individuals can access the call by dialing 1 888 935 4575 within the United States, +47 23162189 within Norway and +44 207 806 1953 for international callers. The passcode is “DHT”.

Carnegie ASA is acting as financial adviser to DHT in connection with the Offer.

Pareto Securities AS is acting as financial adviser to Saga in connection with the Offer.

Wikborg Rein is DHT’s legal advisor as to Norwegian law in connection with the Offer and Cravath, Swaine & Moore LLP is acting as DHT’s legal advisor with respect to U.S. matters.

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