Farstad Shipping ASA – Approved annual accounts and Annual Report 2016

Ålesund, Norway, 31 March 2017 – Farstad Shipping ASA's audited 2016 annual accounts is approved by the Board of Directors on 31 March 2017. Except for some minor reclassifications in the Statement of financial position, the final annual accounts for 2016 are identical to the preliminary accounts published on 28 February 2017.

Annual Report 2016 is attached hereto and is also available on the company's website www.farstad.com.

Notice of Annual General Meeting including annexes will be distributed to the shareholders on 3 April 2017.

The Annual General Meeting will be held on 25 April 2017 at 12.00 CET. The Board of Directors has proposed to the Annual General Meeting that no dividend should be paid for the fiscal year 2016.

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 

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

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