Ro Sommernes acts for Bruton Limited

Bruton Limited, a Bermuda-incorporated industrial player listed on Euronext Growth Oslo under ticker BRUT, successfully completed a private placement in October 2025, raising approximately USD 110 million through the issuance of 25,636,900 new Norwegian Depository Receipts (NDRs) at a subscription price of USD 4.29 per share.

The proceeds from the private placement are being used to finance the Company's newbuilding programme and general corporate purposes.

The placement received significant pre-commitments, including USD 11 million from Drew Holdings Ltd. and USD 38 million from Koch Shipping Pte. Ltd. Additionally, Bruton entered into newbuilding contracts New Times Shipbuilding Co. Ltd. for the building of two new scrubber-fitted VLCC vessels, with options for two additional vessels at the same price.

With the successful tender offer to the shareholders in Andes Tankers, the Bruton group will have six VLCC vessels under construction and options for two additional vessels.

Ro Sommernes acts as legal advisor to Bruton in connection with the legal development of the company, including the private placement, the tender offer and the newbuilding program.