SOFF - FAR - DESSC: Key date announcement

21.06.2017 08:30

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Skudeneshavn, Ålesund and Limassol, 21 June 2017

Reference is made to previous stock exchange notices
regarding the proposed mergers between (i) Farstad Shipping
ASA ("FAR") and Solship Invest 2 AS with the latter as the
surviving entity and with settlement in Solstad Offshore ASA
("SOFF") shares, (ii) Deep Sea Supply Plc ("DESSC") and
Solship Sub AS with the latter as the surviving entity
(the "DESSC Merger I") and (iii) Solship Sub AS and Solship
Invest 3 AS with the latter as the surviving entity and with
settlement in SOFF shares (the "DESSC Merger II"), together
referred as the "Mergers" and the settlement shares in the
Mergers are referred to as the "Merger Shares".

In connection with completion of the Mergers, please note
the following key dates:

Last day when FAR and DESSC shares are trading: 21 June 2017

Expected date of completion of the Mergers: 21 June 2017
after close of trading

First day of the merged SOFF (now renamed Solstad Farstad
ASA ; ticker "SOFF" will be continued) trading alone: 22 June
2017

Record date: 23 June 2017

Date of delivery of the Merger Shares in VPS: 26 June 2017

First day of trading of the Merger Shares will be 22 June
2017, i.e. before delivery of the Merger Shares to the VPS
accounts of eligible former shareholders of FAR and DESSC.
Therefore no account-to-account transactions and no
transactions with settlement prior to 26 June 2017 will be
allowed in the Merger Shares on the Oslo Stock Exchange in
this period.

Merger conversion ratios:
SOFF - FAR: 0.028 SOFF share per 1 FAR share

Solship Sub AS - DESSC: 1 Solship Sub AS share per 1 DESSC
share

SOFF - Solship Sub AS: 0.1052631578947368 SOFF share per 1
Solship Sub AS share

ISIN (SOFF): A-shares (ordinary): NO0003080608

Transferor companies: FAR, DESSC (DESSC Merger I) and
Solship Sub AS (DESSC Merger II)

Transferee companies: Solship Invest 2 AS and Solship Invest
3 AS

Issuer of Merger Shares: SOFF

Date of approvals: 25 April 2017 (extraordinary general
meetings)

Fractional shares will not be delivered. The number of
Merger Shares issued to the shareholders of DESSC and FAR
will be rounded down to the nearest whole number of SOFF
shares. Fractions will be sold for the benefit of FAR and
DESSC shareholders who have been subject to such rounding
down.

In connection with the Mergers, a total of 166,845,478 new
SOFF shares will be delivered as Merger Shares to the
eligible former shareholders of FAR and DESSC.

Furthermore, 16 million new shares will be issued and
delivered to Hemen Holding Limited ("Hemen") in a private
placement of shares.

In addition, 20 million new shares will be issued and
delivered to Aker Capital AS ("Aker") in connection with the
conversion of a convertible loan.

The total number of issued shares in SOFF will increase with
202,845,478 from 88,686,821 to 291,532,299 shares.

The new shares to be issued to Hemen and Aker will be
tradeable from 22 June 2017 and delivered in VPS on 26 June
2017.

Contact:
Lars Peder Solstad, Chief Executive Officer of Solstad
Offshore ASA at +47 913 18 585 or Sven Stakkestad, Deputy
Chief Executive Officer of Solstad Offshore ASA at +47 905
15 802.

Karl-Johan Bakken, Chief Executive Officer of Farstad
Shipping ASA at +47 901 05 697 or Olav Haugland, Chief
Financial Officer of Farstad Shipping ASA at +47 915 41 809.

Anders Hall Jomaas, Chief Financial Officer of Deep Sea
Supply Plc at +47 400 42 918.

This information is published in accordance with the
requirements of the Continuing Obligations of the Oslo Stock
Exchange.