Pioneer Marine Inc. Registration on the NOTC List

25 Mar 2014

Pioneer Marine Inc. is registered on the NOTC-list as of 25 March 2014 with ticker code PNRM. The company has issued 23,188,690 common shares each with a par value US$ 0.001, all of which is registered in the VPS with ISIN code MH Y69 8351092. Based on the issue price of USD 13.00 per share (equivalent to NOK 77 per share), the market capitalization is USD 301 million equivalent to approx. NOK 1,785 million.

The company has entered into an agreement whereby it will be able to use the reporting systems as of 25 March 2014.

Pioneer Marine Inc is a newly incorporated Marshall Islands corporation. It will own and operate dry bulk vessels with a focus on geared vessels 65,000dwt. The company’s affiliates will have offices in Singapore and Chennai, India. Pioneer Marine Inc affiliates anticipate opening a third office in Athens, Greece.