Statement re Confirmation of Ownership Structure

Magellan Capital Holdings PLC-Confirmation of Ownership Structure

23 May 2025

Magellan Capital Holdings PLC (the "Issuer") wishes to reconfirm its ownership structure in response to recent queries.

The Issuer was created in connection with the issuance of $360 million 8.375% Fixed Reset Senior Secured Notes due 2029 (the "Bonds") pursuant to Regulation S of the U.S. Securities Act of 1933, as amended. The Bonds were used as part of the financing package for the Issuer's acquisition of the majority of the shares of Danmarks Skibskredit A/S ("DSF"), which closed on 10 July 2025. 

The Issuer's obligations under the Bonds are unconditionally and irrevocably guaranteed by Magellan Holding Limited (the "Guarantor"). 100% of the Issuer's shares are held by the Guarantor.

Mr. Hassan Elali is the owner of 100% of the issued share capital of the Guarantor.

Mr. Hassan Elali has over 40 years of experience in the marine services industry and founded ZMI Holdings, the world's largest owner and operator of self-propelled, self-elevating jack-up barges. He built a strong reputation in the maritime sector and sold the business to ADNOC Logistics and Services in November 2022, establishing a strong liquidity position. Mr. Hassan Elali is the 100% owner of a separate group of companies that include the name "Magellan" which operate in the United Arab Emirates as private investment companies. This group includes an entity regulated by Dubai's DFSA that is being established as a fund manager. 

The Issuer, the Guarantor and DSF are independent companies with separate and robust audit procedures designed to create transparency and mitigate risk for bondholders.

About Danish Ship Finance

Danish Ship Finance is a highly specialised niche player in the ship finance market and has been

committed to the industry since 1961. The company is a trusted partner for Danish and international shipping companies and leverages its extensive sector knowledge to act as more than a financier for its clients. It has a strategic focus on financing the transition to a sustainable shipping industry.

For further information, please contact:

Magellan Capital Holdings PLC

Investor Relations

[email protected]

+44 203 960 4488

+971 4380 8400