Information to the Market
QUOTE
It is hereby announced that the marine vessel MV AST Malta with hull (IMO) number 9143398, previously owned by AST Shipping 1 Ltd, has been sold to a third-party with effect 19 August
2025 in consideration of the sum of US$2,370,000.
It is the Group’s intention to utilise the proceeds from the sale of the MV AST Malta to acquire a replacement vessel/s to continue to strengthen the AST Group’s existing fleet of marine
vessels in line with its current operating model.
The first priority mortgage which was registered in favour of Onyx Trustees Limited, qua trustee of the AST Trust II has been discharged pursuant to the aforementioned sale and accordingly, the Company confirms that part of the consideration from the sale of the afore mentioned vessel equivalent to circa the original acquisition value of the MV AST Malta, in an amount of US$1,500,000, is to be held in the Company’s bank account which is pledged in favour of Onyx Trustees Limited, qua trustee of the AST Trust II, until such time as a replacement vessel/s is/are identified and acquired.
The balance of the funds remaining pursuant to the sale shall be utilized for maintenance and upgrades to the Group’s other two vessels, MV AST Eco and MV AST Rising, which currently have an aggregate value of circa EUR8.5 million. The first preferred mortgages registered over the MV AST Eco and MV AST Rising shall remain in full force and effect.
The Company will issue further announcements in due course in connection with the acquisition of the replacement vessel/s detailed above.
UNQUOTE
Katia Cachia
Company Secretary
19 August 2025
