New Chairman of the Board

At the Annual General Meeting in Solstad Farstad ASA (“SOFF”), May 9th 2018, Terje Vareberg stepped down as Chairman and Board member after 7 years of service. At the same time Harald Espedal was elected as new Board member.

The Board of Directors has appointed Harald Espedal as the new Chairman of the Board.

Harald Espedal is a graduate from The Norwegian School of Economic (NHH) in economics with additional studies in auditing. Today he is the Chairman of Lyse ASA, Sandnes Sparebank, Espedal & CO AS, Deputy Chair in Stavanger Concert Hall, and Board member in Aaspelin Ramm and The Norwegian National Opera & Ballet.

Espedal has a long career within the Finance and Investment industry including as CEO and Investor Director for SKAGEN and Investment Director for Vesta.

Skudeneshavn, May 14th 2018

Contact:
Lars Peder Solstad CEO, at +47 91 31 85 85.
Anders Hall Jomaas CFO, at +47 40 04 29 18

Solstad Farstad ASA
www.solstadfarstad.com 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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About Us

Philosophy, Objectives and StrategiesSolstad Offshore ASA’s (SOFF) philosophy is to run a profitable and integrated shipping company with high specification vessels in its market segment, using owned or chartered vessels. The core business is to offer services to petroleum related offshore activities.The Company aims to be a significant player and offer a wide range of services based on high quality vessels, equipment and maritime personnel with extensive experience. In the North Sea the aim remains to be one of the heavy weights in the industry, and internationally, a major player in deep waters, subsea- and construction related activities. Based on extensive market knowledge and maritime experience within the offshore industry, SOFF will continuously seek for profitable investments in areas closely related to the core business. The Company continues to focus on Health, Safety and Environment (HSE) as well as profitability and aims to meet the targets set in these areas. The most important target within HSE is to avoid injury to personnel and equipment, and any uncontrolled spillage from the vessels. SOFF’s strategy is to be customer-focused and deliver high quality services in accordance with customer demands and furthermore to actively develop services in close co-operation with existing and new customers. In general, the Company manages the total operation of the vessels including freight, crewing and technical management. The Company will evaluate where it is possible to operate cost effective operations with an optimal return on capital employed, in co-operation with suppliers and clients, particularly with a view to long-term strategic co-operations. This co-operation is important with regards to both risk and capital injection.

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