Farstad Shipping ASA – Company update
Reference is made to the company update from Farstad Shipping ASA of 24 November 2016. Although the term sheet with Siem Industries, Inc. has formally lapsed, Farstad Shipping ASA and Siem Oil Service Invest, Limited (a fund managed by Siem Industries, Inc.) continue their joint efforts to obtain a solid financial platform for the operations of the Farstad Shipping group. Constructive discussions are currently being carried out with all affected creditors. In order to preserve the liquidity reserves of the Farstad Shipping group, Farstad Shipping ASA and a majority of its