The Board of Directors of Rex International Holding Limited informs that the Company, based on the successful developments in Norway as announced on 27 August 2018, has received unsolicited, non-binding indications of interest (the “Interest”) in the portfolio of licences held by Lime Petroleum AS (“LPA”), Rex’s 90 per cent subsidiary, from unrelated third parties.

The Company’s Management and Board are currently carefully considering the Interest. The Company has decided to make this announcement to avoid any unmerited rumours and/or speculations. There is no guarantee that the Interest or any discussions relating to the Interest will lead to a formal, binding proposal for the divestment of LPA’s portfolio of assets or LPA itself.

In the meantime, shareholders are advised to exercise caution when dealing in the shares and to refrain from taking any action in respect of their shares which may be prejudicial to their interests. Shareholders who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor or other professional advisers. Appropriate announcements will be made if and when there are any material developments.