Allied Shipbroking Ltd. would like to take the opportunity today to announce to you the completion of a spinoff of our research and valuations department into a completely separate private company renamed ALLIED QuantumSea S.A.

Over the past 7 years we have developed a real commitment to providing accurate, unbiased and independent information services for the shipping industry. Having been able to further strengthen our position and establish a prominent reputation in the market we have now decided that a separation of these services into a completely independent entity can ensure and further reaffirm our strong commitment to autonomy, accuracy and accountability.

This new company will take up all the shipping market research and ship valuation services previously provided by our in-house Market Research and Valuations department along with all running income streams of said services.

It will also allow for further value to be unlocked while permitting the implementation of unique growth strategies, letting for refinement and refocus of our business mix and strategic priorities independent from the parent company. As each company will have its own separate financial results and income streams, each company will also be able to be in an improved position to better align management and employee incentives with business goals and strategies in each of their focused markets and completely eliminate any concerns over conflicts of interests with regards to the services provided.

ALLIED QuantumSea S.A. will continue to provide the same prominent quality of services that our customers have been accustomed to, while still having access to primary market data and information through the ALLIED Group of companies, yet have complete impartiality in terms of management and employee decision making. This should further reassert our complete independence from market participants and our continued commitment to an unbiased approach in providing market intelligence, consultation and valuations that most accurately reflect the market.

The spun-off company will retain the same human resources, intellectual property and assets previously held by our in-house Market Research and Valuations department.