Company Disclosure
Notice of Annual General Meeting
The Annual General Meeting of Solstad Offshore ASA will be held at the company’s office in Skudeneshavn on Friday June 26th, 2020 at 10:00 am.
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Company Disclosure
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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Company Disclosure
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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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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Company Disclosure
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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News
Far Swan wins again
Far Swan has yet again being awarded and emerged as the winner of the Qatargas vessel of the Quarter for first quarter of 2020. This is the 2nd achievement, as she received the same award in 2Q of 2019, for this charter.
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Company Disclosure
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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News
Successful restructuring on multiple fronts
On May 8th of this year, we reported to the market that Solstad Offshore ASA, its creditors and industrial shareholders have come to an agreement in the financial restructuring process of the group. We are pleased to announce that the restructuring – a significant milestone which means that Solstad will continue to operate in a controlled manner, with predictability for employees, clients and other stakeholders – is now complete.
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