Farstad Shipping ASA – Changes to the board

In understanding with the board, its legal counsel and board member Leif-Arne Langøy, Mr. Langøy has been excused from the board's handling of Farstad Shipping ASA's refinancing process since summer 2016. As the refinancing process continues, Mr. Langøy is unable to serve as a board member in Farstad Shipping ASA. Mr. Langøy has therefore retired from the board of the company, effective from today.

The chairman of the board expresses his sincere gratitude for Mr. Langøy's service and contribution to Farstad Shipping ASA.

Farstad Shipping ASA will continue its refinancing efforts in cooperation with its key stakeholders as communicated to the market.

Contact:

Chairman Sverre A. Farstad – tel. +47 909 79 057

Farstad Shipping’s fleet currently consists of 55 vessels (27 AHTS, 22 PSV and 6 SUBSEA) and 1 SUBSEA vessel under construction. The company’s operations are managed from Aalesund, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 1,725 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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