Solstad Offshore ASA
Kjetil Ramstad is appointed as new CFO in Solstad Offshore ASA
Mr. Kjetil Ramstad will take up the CFO position as of today, June 2nd 2020. He comes from the position as Finance Director in Solstad Offshore and has worked for the company since 2018. He also brings experience from the position as Finance Director and CFO for the DeepOcean group from 2008 to 2018.
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Solstad Offshore ASA
Restructuring implementation agreement – update
Reference is made to the stock exchange notice 8 May 2020 where Solstad Offshore ASA (the “Company”) and its subsidiaries (“SOFF” or the “Group”) informed that it had agreed a Restructuring Implementation Agreement (the “RIA”) for a restructuring of the Group (the “Restructuring”).
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Solstad Offshore ASA
Bondholder meetings
Reference is made to the stock exchange notice on 14 May 2020 in which it was advised that bondholder meetings were summoned for 29 May 2020 for the SOFF 04 (ISIN NO 0010713548) and the Solship Invest 1 AS bond issues (ISIN 0010779945).
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Financial report for the 1st quarter 2020
The Company’s revenue in 2020 is expected to be negatively affected by the COVID-19 pandemic and sharp decline in the oil price.
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Solstad Offshore ASA
Annual Report 2019
Please find attached the Annual Report 2019 for Solstad Offshore ASA (“The Company”). The Annual Report is also available from the company’s web site www.solstad.com.
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Solstad Offshore ASA
Correction incl enclosures: Summons to bondholders’ meeting
Reference is made to the stock exchange notice by Solstad Offshore ASA 8 May 2020.
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Contracts for CSV’s Far Saga and Normand Energy
Solstad Offshore ASA (“SOFF”) is pleased to announce that the Brazilian flagged CSV, Far Saga, has been awarded a contract with Petróleo Brasileiro S.A. (“Petrobras”) for a period of 3 years firm.
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Solstad Offshore ASA
Restructuring Implementation Agreement
Reference is made to the stock exchange notice 31 March 2020 where Solstad Offshore ASA (the “Company”) and its subsidiaries (“SOFF” or the “Group”) informed that it had agreed on a plan with key stakeholders to finalise the negotiations for an agreement for the financial restructuring of the Group.
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Medium-term contracts for multiple vessels
Solstad Offshore ASA has entered into medium-term contracts for six of its vessels for a period of 80 to 170 days each with undisclosed Clients. Commencement will be around 1st July and the operation are outside the North Sea.
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Solstad Offshore ASA
Restructuring update
Reference is made to the stock exchange communication of Solstad Offshore ASA (the “Company”) of March 31st, 2020 in which it was announced that the Company and a large majority of its stakeholders had established a common plan to finalise the negotiations for the restructuring of the Company on the basis of a restructuring outline (as described in the communication, the “Restructuring Outline”).
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