Japanese Shares Rise in Cautious Trade

European equity markets were poised for a muted open on Monday as investors awaited an expected US Federal Reserve interest rate cut this week.

However, the outlook for 2026 remains less certain, with analysts expecting a “hawkish cut” in which Chair Jerome Powell may signal a more cautious path for further easing.

In Europe, investors will assess German industrial production data, while no major earnings reports are scheduled.

Looking ahead, the Swiss National Bank is expected to keep its policy rate at 0% on Thursday.

In premarket trading, Euro Stoxx 50 and Stoxx 600 futures hovered around the flatline.

LONDON--(BUSINESS WIRE)--December 08, 2025--

COOL COMPANY Ltd. ("CoolCo" or the "Company") ( / CLCO.OL) has announced today that it has established an updated record date of December 16, 2025 for a special meeting of its shareholders. At the special meeting, the date of which will be announced in due course, the Company's shareholders will vote on the previously announced proposed merger of CoolCo with a newly formed, wholly owned subsidiary of EPS Ventures Ltd. CoolCo shareholders of record at the close of business on December 16, 2025 will be entitled to receive notice of the special meeting and to vote at the special meeting.

A copy of the notice and associated information will be distributed to shareholders by normal distribution methods prior to the meeting and will also be made available on the website maintained by the SEC at www.sec.gov, and the Company's website at http://www.coolcoltd.com.

ABOUT COOLCO

CoolCo is an LNG Carrier pure play with a fleet of 13 vessels and a well-balanced portfolio of short- and long-term charters with the world's leading oil & gas, trading, and utility companies. In addition to organic growth from two newbuilds delivered in Q4 2024 and Q1 2025, CoolCo's strategy includes ongoing assessment of growth opportunities through vessel acquisitions and potential consolidation in the fragmented LNG market. Through its in-house LNG transportation and infrastructure management platform, CoolCo operates its own vessels and provides management services to third-party owners. The company benefits from the scale and support of Eastern Pacific Shipping, an affiliate of its largest shareholder and the owner of one of the world's largest independent shipping fleets. This affiliation strengthens CoolCo's strategic position with shipyards, financial institutions, and deal flow access. CoolCo is committed to supporting global decarbonization and energy security. As part of its LNGe upgrade program, the company aims to reduce emissions by 10-15%, contributing to a fleet-wide emissions reduction target of 35% from 2019 to 2030.

Additional information about CoolCo can be found at www.coolcoltd.com.

FORWARD LOOKING STATEMENTS

This press release and any written or oral statements made by us in connection with this press release include forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict," "potential," "positioned," "seek," "should," "target," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to, statements regarding the proposed transaction described above (the "Transaction"), including the expected timing of the Company's special general meeting of its shareholders, the expected impact of the Transaction and other statements about the Transaction and other non-historical statements.

Any forward-looking statements contained herein are based on our historical performance and our current plans, estimates, strategies, priorities and expectations and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent our expectations as of the date of this press release. Subsequent events may cause these expectations to change, and we disclaim any obligation to update the forward-looking statements in the future, except as required by law. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from our current expectations.

Important factors that could cause actual results to differ materially from those anticipated in our forward-looking statements include, but are not limited to, (i) the Transaction may not be consummated within the expected timeframe in accordance with expected terms and plans, or at all; (ii) litigation relating to the Transaction could be instituted against the Company, or other parties including their respective directors, managers or officers, and the outcome of any litigation cannot be predicted; (iii) disruptions from the Transaction may harm the Company's business, including current plans and operations; (iv) the Transaction may result in the diversion of management's time and attention to issues relating to the Transaction; (v) the Transaction may impact the Company's ability to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships may result from the announcement or completion of the Transaction; (vii) the announcement of the Transaction may impact availability of capital; (viii) potential business uncertainty, including changes to existing business relationships, during the pendency of the Transaction could affect the Company's financial performance; (ix) restrictions under the agreements governing the Transaction may impact the Company's ability to pursue certain business opportunities or strategic transactions during the pendency of the Transaction; (x) there will be costs in connection with the Transaction; (xi) an event, change or other circumstance could give rise to the termination of the definitive agreement governing the Transaction; (xii) competing offers or acquisition proposals may be made in response to the announcement of the Transaction; (xiii) the announcement or pendency of the Transaction may impact the Company's common share prices and/or the Company's operating results and cause uncertainty as to the long-term value of Company's common shares; and (xiv) the other risks described under the captions "Item 3. Key Information — D. Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statement" in our Annual Report on Form 20-F for the fiscal year ended December 31, 2024, filed with the U.S Securities and Exchange Commission (the "SEC"), as such factors may be updated from time to time in our other filings with and submissions to the SEC, which are accessible on the SEC's website at www.sec.gov and the Investor Relations page of our website at https://www.coolcoltd.com/investors/sec-filings.

IMPORTANT INFORMATION

This announcement is not and does not form a part of any offer to sell, or solicitation of an offer to purchase, any securities. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement is for information purposes only and does not constitute a tender offer document, prospectus or equivalent document.

This announcement is not to be relied upon in substitution for the exercise of independent judgement. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities.

The information contained in this announcement is for background purposes only and does not purport to be full or complete. This announcement has not been reviewed approved by any regulatory or supervisory authority. The information in this announcement is subject to change. No obligation is undertaken to update this announcement or to correct any inaccuracies except as required by applicable laws, and the distribution of this announcement shall not be deemed to be any form of commitment to proceed with any transaction or arrangement referred to herein.

This announcement is intended for the sole purpose of providing information. Persons needing advice should consult an independent financial adviser.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

This communication is being made in connection with the Transaction, which constitutes a "going private transaction" subject to the requirements of Rule 13e-3 under the U.S. Securities Exchange Act of 1934 and, therefore, certain participants in the Transaction have filed a Schedule 13E-3 Transaction Statement with the SEC. The Schedule 13E-3 contains important information on the Company, EPS Ventures Ltd. ("EPS"), the Transaction and related matters, including a proxy statement for a special meeting of the Company shareholders. These participants may also file other relevant documents with the SEC regarding the Transaction. This communication is not a substitute for the Schedule 13E-3 (as it may be amended or supplemented) or any other document that the Company or EPS may file with the SEC with respect to the proposed transaction. The proxy statement included in the Schedule 13E-3 will be mailed or otherwise furnished to the Company's shareholders. SHAREHOLDERS ARE URGED TO READ THE SCHEDULE 13E-3, ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PARTICIPANTS IN THE PROPOSED TRANSACTION AND THE PROPOSED TRANSACTION. Shareholders are able to obtain copies of these materials and other documents containing important information about the Transaction and participants in the Transaction, free of charge, through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by the Company are available free of charge on the Company's investor relations website at https://www.coolcoltd.com/investors/sec-filings.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251205747018/en/

CONTACT: For more information, questions should be directed to:

c/o Cool Company Ltd - +44 207 659 1111 / ir@coolcoltd.com

Richard Tyrrell - Chief Executive Officer

John Boots - Chief Financial Officer

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks may drift lower at open on Monday as investors await U.S. economic data and the Federal Reserve rate decision this week for new insights into the U.S. economic and rate outlook.

The delayed U.S. JOLTS report, weekly jobless claims figures and the employment cost index are due this week.

The Fed is widely expected to cut rates by a quarter point on Wednesday and remarks from Fed Chair Jerome Powell at the post-meeting press conference could shed light on the U.S. central bank's plans for 2026.

Besides the Fed rate decision, the Bank of Canada, Swiss National Bank and Reserve Bank of Australia will announce their monetary policy decisions this week.

On the earnings front, a handful of corporate earnings reports, including those from Oracle, Broadcom and Adobe may garner investor attention this week.

Closer home, German industrial production data and Eurozone Sentix investor confidence survey results will be in the spotlight later today.

Asian markets were mixed as investors reacted to rising Japan-China military tensions and weak GDP data from Japan.

China's yuan climbed on upbeat trade data and signs of easing trade tensions. China's exports rebounded in November after an unexpected drop the previous month.

U.S. Trade Representative Jamieson Greer at the weekend said China is complying with the terms of the bilateral trade agreements so far.

Elsewhere, French President Emmanuel Macron warned of potential tariffs if Beijing does not act to reduce its substantial trade surplus with Europe.

The U.S. dollar was steady after two straight weeks of declines. Gold held firm above $4,200 an ounce after data released on Sunday showed China's central bank added to its reserves for a 13th straight month in November.

Oil was marginally lower after settling above $60 a barrel on Friday amid concerns about limited supplies from Russia and Venezuela.

U.S. stocks eked out modest gains on Friday after the closely watched PCE price index ticked up to 2.8 percent in September from 2.7 percent in August, matching estimates and boosting rate-cut hopes.

Separately, a measure of U.S. consumer confidence rose for the first time in five months as respondents' inflation expectations improved.

The tech-heavy Nasdaq Composite rose 0.3 percent to reach a one-month high and the S&P 500 added 0.2 percent to extend gains for a fourth day running while the narrower Dow edged up by 0.2 percent.

European stocks ended mixed on Friday, failing to sustain early gains. The pan-European Stoxx 600 finished marginally lower, snapping a three-day winning streak but gaining 0.4 percent for the week.

The German DAX climbed 0.6 percent while the U.K.'s FTSE 100 shed half a percent and France's CAC 40 finished marginally lower.

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The BSE Sensex fell 229 points, or 0.3%, to 85,484 in early deals on Monday, erasing gains from the previous two sessions, as traders remained cautious ahead of the Fed's monetary policy decision later this week.

Traders also took profit after the index rose in the prior session following the RBI's decision to cut interest rates and boost liquidity in the banking sector.

Investors additionally braced for a week packed with IPO activity.

Most sectors traded in the red, including autos, metals, banking, and financial services.

The Nifty 50 also fell 0.3%, while mid-cap and small-cap stocks declined 0.5% and 0.8%, respectively.

Among the biggest laggards were JSW Steel (-1.9%), Bajaj Finance (-1.8%), Bajaj Finserv (-1.5%), Nestle India (-1.1%), and Adani Ports (-1.0%).

Meanwhile, InterGlobe Aviation plunged 5.4% following a regulatory warning over thousands of flight cancellations last week.

New Zealand's benchmark S&P/NZX 50 index finished little changed at 13,486 on Monday after two consecutive sessions of losses.

The market was relatively quiet amid a lack of domestic catalysts.

Shares of Tourism Holdings closed 0.4% higher, rebounding from an intraday drop of up to 5.4% after the company announced it would shut its RV manufacturing factory in Brisbane, Australia, from December 19.

Among index heavyweights, notable gains were seen in Fisher & Paykel (+0.7%), Mercury NZ (+1.1%), and Spark NZ (+1.3%), which were offset by losses in Auckland Intl Airport (-0.9%), Contact Energy (-1.2%), and a2 Milk (-0.9%).

Overseas, market focus is on the US Federal Reserve’s interest rate decision this week, with a quarter point cut widely anticipated.

CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Monday, following the broadly positive cues from Wall Street on Friday, as traders remain cautious ahead of the US Fed's monetary policy decision later in the week even though they are optimistic of an interest rates cut. They will look ahead to post meeting comments by Fed officials for hints about the outlook for interest rates into the next year. Asian markets closed mixed on Friday.

The Australian stock market is modestly lower on Monday, reversing the gains in the previous session, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is staying well below the 8,650.00 level, with weakness across most sectors led by gold miners and energy stocks.

Traders remain cautious ahead of the Reserve Bank of Australia's policy decision on Tuesday, where the RBA is widely expected to maintain the cash rate at its final meeting of the year after three rate cuts this year.

The benchmark S&P/ASX 200 Index is losing 25.30 points or 0.29 percent to 8,609.30, after hitting a low of 8,595.60 earlier. The broader All Ordinaries Index is down 26.10 points or 0.29 percent to 8,900.00. Australian stocks closed modestly higher on Friday.

Among the major miners, BHP Group and Fortescue are edging down 0.3 to 0.5 percent each, while Rio Tinto is declining almost 2 percent. Mineral Resources is gaining more than 2 percent.

Oil stocks are mostly lower. Beach energy is losing more than 1 percent, while Santos and Origin Energy are down almost 1 percent each. Woodside Energy is flat.

Among tech stocks, Afterpay owner Block is losing more than 2 percent and Xero is edging down 0.5 percent. Zip is adding almost 2 percent, while Appen and WiseTech Global are gaining almost 1 percent each.

Gold miners are weak. Northern Star Resources is declining almost 2 percent, Resolute Mining is edging down 0.5 percent and Newmont is slipping more than 2 percent, while Genesis Minerals and Evolution Mining are losing almost 1 percent each.

Among the big four banks, ANZ Banking and National Australia Bank are losing almost 1 percent each, while Commonwealth Bank is gaining almost 1 percent and Westpac is edging up 0.4 percent.

In the currency market, the Aussie dollar is trading at $0.664 on Monday.

The Japanese stock market is trading slightly lower on Monday, extending the losses in the previous session, despite the broadly positive cues from Wall Street on Friday, with the Nikkei 225 falling below the 50,450 level, with weakness is index heavyweights, financial and technology stocks partially offset by gains in automakers and exporter stocks.

The benchmark Nikkei 225 Index closed the morning session at 50,473.84, down 18.03 points or 0.04 percent, after hitting a low of 50,224.65 earlier. Japanese shares ended significantly lower on Friday.

Market heavyweight SoftBank Group is losing more than 2 percent and Uniqlo operator Fast Retailing is edging down 0.2 percent. Among automakers, Honda is edging up 0.1 percent and Toyota is gaining almost 1 percent.

In the tech space, Advantest is declining more than 1 percent, Screen Holdings is edging down 0.4 percent and Tokyo Electron is down almost 1 percent.

In the banking sector, Sumitomo Mitsui Financial is losing almost 1 percent, Mitsubishi UFJ Financial is declining more than 1 percent and Mizuho Financial is edging down 0.5 percent.

The major exporters are mostly higher. Mitsubishi Electric is gaining more than 2 percent, while Panasonic and Canon are adding almost 1 percent each. Sony is losing almost 1 percent.

Among the other major losers, Aeon is declining almost 5 percent, Lasertec is losing more than 3 percent and Resonac Holdings is down almost 3 percent.

Conversely, Secom, Fuji Electric and Toppan Holdings are advancing more than 4 percent each, while Japan Steel Works and Mitsubishi Estate are gaining almost 4 percent each. BayCurrent is adding almost 3 percent.

In economic news, Japan's gross domestic product contracted a seasonally adjusted 0.6 percent on quarter in the third quarter of 2025, the Cabinet Office said in Monday's preliminary reading. That missed forecasts for a decline of 0.4 percent following the 0.5 percent increase in the three months prior. On an annualized basis, GDP declined 2.3 percent - again missing expectations for a fall of 2.0 percent following the 2.2 percent gain in the second quarter.

Capital expenditure was down 0.2 percent on quarter, missing forecasts for an increase of 1.0 percent following the 0.6 percent gain in the previous three months. External demand was down 0.2 percent on quarter and private consumption was up 0.2 percent on quarter, while the GDP price index jumped 3.4 percent on year.

Meanwhile, Overall bank lending in Japan was up 4.2 percent on year in November, the Bank of Japan said on Monday - coming in at 652.547 trillion yen. That exceeded expectations for an increase of 4.0 percent and was up from 4.1 percent in October. Excluding trusts, lending was up 4.5 percent at 573.647 trillion yen - accelerating from 4.4 percent in the previous month.

In the currency market, the U.S. dollar is trading in the lower 155 yen-range on Monday.

Elsewhere in Asia, New Zealand, China, Taiwan and Indonesia are higher by between 0.2 and 0.6 percent each, while Hong Kong, Singapore, South Korea and Malaysia are lower by between 0.1 and 0.7 percent each.

On Wall Street, stocks saw modest strength during trading on Friday after ending Thursday's choppy trading session little changed. With the upward move, the Nasdaq and the S&P 500 reached their best closing levels in a month.

The major averages gave back ground after an early advance but remained in positive territory. The Dow rose 104.05 points or 0.2 percent to 47,954.99, the Nasdaq climbed 72.99 point or 0.3 percent to 23,578.13 and the S&P 500 increased 13.28 points or 0.2 percent to 6,870.40.

Meanwhile, the major European markets also turned mixed on the day. While the German DAX Index climbed by 0.6 percent, the French CAC 40 Index edged down by 0.1 percent and the U.K.'s FTSE 100 Index fell by 0.5 percent.

Crude oil prices edged higher on Friday on persistent geopolitical tension due to the Russia-Ukraine war and the U.S.-Venezuela standoff. West Texas Intermediate crude for January delivery was up $0.35 or 0.59 percent at $60.02 per barrel.

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