Bondholder approval for extension of NOR10

Oslo, 4 September 2018: Reference is made to the announcement from 21 August 2018 in which Norwegian Energy Company ASA ("Noreco" or the "Issuer") summoned bondholders in NOR10 (ISIN: NO0010697030) to a bondholders' meeting for a possible extension of the bond.

A bondholder meeting in NOR10 was held today at 10:00 CET, at Nordic Trustees offices in Oslo. There were sufficient Bondholders present at the meeting to form a quorum. The proposed resolution obtained 97.47 % of the votes, and the proposal was adopted according to the voting requirements of the Bond Agreement. The Bond Agreement will therefore be changed as set out in the summons to the meeting.

In addition, the interest payment due 6 September 2018 will be settled through the issuance of additional bonds (i.e. Payment-in-Kind).

Contact:

Frederik Rustad, Managing Director

Tel.: +47 22 33 60 00 or email: ir@noreco.com 

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About Norwegian Energy Company ASA

Noreco is a publicly owned company with focus on the oil, gas and offshore industry. The company's shares are listed on the Oslo Stock Exchange (ticker NOR). For further information, please visit: www.noreco.com.