GRINDROD SHIPPING HOLDINGS LIMITED - Grindrod Shipping announces update relating to the acquisition of additional 33.25% Stake in IVS Bulk Joint Venture

Grindrod Shipping announces update relating to the acquisition of additional 33.25% Stake in IVS Bulk Joint Venture

GRINDROD SHIPPING HOLDINGS LTD.
ABBREVIATED NAME: GRINSHIP
Registered in Singapore with registration number 201731497H
JSE Share code: GSH
ISIN: SG9999019087
Primary listing on NASDAQ Global Select Market
Secondary listing on the JSE Main Board


Grindrod Shipping Holdings Ltd. Announces Update Relating to the Acquisition of Additional 33.25% Stake in
IVS Bulk Joint Venture

Grindrod Shipping Holdings Ltd. (NASDAQ: GRIN) (JSE: GSH) (“Grindrod Shipping” or "Company" or “it” or “we”),
a global provider of maritime transportation services in the drybulk and product tanker sectors, provided an
update relating to the planned acquisition of an additional 33.25% stake in its IVS Bulk joint venture (“IVS Bulk”
or “JV”).

Grindrod Shipping is progressing negotiations to acquire all of the 33.25% ordinary and preference shares in IVS
Bulk held by one of its two JV partners for approximately $44.2 million, thereby increasing our stake in the JV to
66.75%. In the event the transaction is implemented as anticipated, we will consolidate IVS Bulk’s financial
results into our financial results going forward.

Term sheets have been executed with lenders and the parties are in the process of negotiating the financing
and other transaction documentation. All of the planned new finance facilities and the agreement to acquire
the additional 33.25% interest in IVS Bulk will be inter-conditional and in order to facilitate the closing of the
acquisition and related financings, the termination date of the existing IVS Bulk JV has been extended until
January 31, 2020. We can provide no assurance that we will complete the acquisition until such time that the
agreements have been concluded and implemented.


About Grindrod Shipping Holdings Ltd.

Grindrod Shipping owns and operates a diversified fleet of owned and long-term and short-term chartered-in
drybulk vessels and product tankers. The drybulk business, which operates under the brand “Island View
Shipping” (“IVS”) includes a fleet of 17 handysize drybulk carriers and 15 supramax/ultramax drybulk carriers on
the water with two chartered-in ultramax drybulk carriers under construction in Japan due be delivered in 2020.
The tanker business, which operates under the brand “Unicorn Shipping” (“Unicorn”) includes a fleet of seven
medium range tankers and two small tankers. The Company is based in Singapore, with offices in London,
Durban, Tokyo, Cape Town and Rotterdam. Grindrod Shipping is listed on NASDAQ under the ticker “GRIN” and
on the JSE under the ticker “GSH”.


Forward-Looking Statements

The statements in this press release that are not historical facts may be forward-looking statements. The Private
Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in
order to encourage companies to provide prospective information about their business. The Company desires
to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe harbor legislation. The forward-looking
statements in this press release are based upon various assumptions, including, without limitation, Grindrod
Shipping management's examination of historical trends, data contained in the Company's records and other
data available from third parties. Although the Company believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant uncertainties and contingencies which
are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you
that it will achieve or accomplish these expectations, beliefs or projections. These forward-looking statements
involve risks and uncertainties that could cause actual results to differ materially from those discussed in the
forward-looking statements. These risks and uncertainties include, among others, those discussed in Grindrod
Shipping's public filings with the SEC. Except as required by law, Grindrod Shipping undertakes no obligation to
update publicly or release any revisions to these forward-looking statements to reflect events or circumstances
after the date of this press release or to reflect the occurrence of unanticipated events.




 Company Contact:                                        Investor Relations / Media Contact:
 Martyn Wade / Stephen Griffiths                         Nicolas Bornozis / Judit Csepregi
 CEO / CFO                                               Capital Link, Inc.
 Grindrod Shipping Holdings Ltd.                         230 Park Avenue, Suite 1536
 200 Cantonment Road, #03-01 Southpoint                  New York, N.Y. 10169
 Singapore, 089763                                       Tel.: (212) 661-7566
 Email: ir@grindrodshipping.com                          Fax: (212) 661-7526
 Website: www.grinshipping.com                           Email: grindrod@capitallink.com




By order of the Board
3 January 2020
Sponsor: Grindrod Bank Limited




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Date: 03-01-2020 08:40:00
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