Farstad Shipping ASA – Approval of restructuring plan for the company

Reference is made to the stock exchange releases published on 6 February 2017 at 08:00 CET and on 10 February 2017 at 14:46 CET regarding (i) a restructuring plan for Farstad Shipping ASA and (ii) the Extraordinary General Meeting in Farstad Shipping ASA on 3 March 2017.

The restructuring plan has been approved by the general meeting with the required majority of votes. More specifically, all of items 4 – 10 of the agenda have been duly approved, however so that item 8 was removed from the agenda as there will be no issuing of convertible bonds (as previously communicated).

The minutes from the Extraordinary General Meeting will be available shortly. 

Contacts:

CEO Karl-Johan Bakken – tel. +47 901 05 697

CFO Olav Haugland – tel. +47 915 41 809

Farstad Shipping’s fleet currently consists of 56 vessels (27 AHTS, 22 PSV and 7 SUBSEA). The company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 1,500 employees engaged onshore and offshore. The company’s strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry.

www.farstad.com  

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