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ADS Maritime Holding Plc ("ADS Maritime Holding" or the "Company") announces the release of its fourth quarter and preliminary full year 2020 report. Feb 26, 2021 HEADLINES Q4 2020: • Completion of remaining vessel sales and repayment of all debt during the quarter • Accounting gain on vessel sales USD 4.8 million in Q4 2020 • Cash held of USD 55.7 million at 31 December 2020 • USD 51 million capital to be paid to shareholders around 1 March 2021 • Change of company name to reflect a broader focus on the shipping sector in future KEY FINANCIALS 
1 Net revenue, vessel operating days and TCE per day are non-IFRS measures. 2 Cash flow from operations before working capital movements
"The fourth quarter marked the completion of the sale of our first three vessels and we delivered on our commitment to return sales proceeds to shareholders, with a total of USD 51 million capital payment to be paid on or around 1 March 2021. As expected, net profit for the fourth quarter was around breakeven as we generated no revenue as a result of the disposal of the vessels, while we recognized an accounting gain of USD 4.8 million on vessel sales in Q4 2020. Since we made the decision to sell our vessels the reported day rates for tankers have been at consistently low levels, including below OPEX-levels for a prolonged period. We continue to closely follow the market for investment opportunities in tankers, as well as bulkers and the wider shipping sectors, but will remain highly disciplined with regards to vessel entry price since we believe this is critical in terms of limiting downside investment risk. Following the forthcoming capital repayment we expect to have approximately USD 4 million cash at bank and will return to the market for fresh capital when we invest in new vessels in the future." Full report About ADS Maritime Holding ADS Maritime Holding Plc is a public limited company listed on the Euronext Growth at the Oslo Stock Exchange (ticker ADS). The Company is incorporated and domiciled in Cyprus and has Norwegian subsidiaries based in Arendal, Norway. ADS Crude Carriers Plc press release 
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