Akastor ASA

TekBot · april 18, 2023, 12:30pm

Akastor ASA: Agreement to transfer AGR AS completed

Akastor ASA (OSE: AKAST) has today completed the transfer of all shares in AGR
AS to ABL Group ASA (“ABL Group”) as per the terms described in the press
release dated 20 March 2023.
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Consequently, a total of 18,166,667 Consideration Shares in ABL Group will be
issued to Akastor’s wholly owned subsidiary RGA Energy Holdings AS (“RGA
Energy”), of which 2/3 will be transferred to Nordea and DNB (with 1/3 issued to
each bank) as settlement of the loans they previously had against AGR AS. RGA
Energy will retain 1/3 of the Consideration Shares (6,055,556), which equals an
ownership share in ABL of about 4.9%. All Consideration Shares are subject to a
12 month lock-up period.

In addition to the Consideration Shares, RGA Energy has received full payment of
the agreed NOK 80.4 million Cash Consideration, of which only a balance of NOK
5.3 million remained for payment at completion following an agreed distribution
of excess cash prior to completion. RGA Energy will also continue to own certain
assets which are not part of the transaction, including 44% of the shares in FØN
Energy Services AS.

The transaction is completed above book value and expected to generate an
estimated accounting gain for Akastor of approximately NOK 100 million, which
will be booked in Q2 2023.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

E-mail: oyvind.paaske@akastor.com

# #

About AGR

AGR is a multi-disciplinary engineering consultancy and software provider to the
energy sector. The company offers consultancy, asset evaluation, peer study,
software and integrated well engineering services. In 2022, AGR delivered
revenue of NOK 790 million and an adjusted EBITDA of NOK 60 million.

For further information, please visit homepage: https://agr.com/

About Akastor

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

For further information, please visit homepage: https://akastor.com/

About ABL Group

ABL Group (OSE: ABL Group ASA - ticker code “ABL”) offers independent energy and
marine consultancy to the global renewables, maritime and oil and gas sectors.
The group has offices in 39 countries worldwide. ABL Group operates under seven
brands: ABL, OWC, Longitude, AGR, Add Energy, Innosea and ABL Yachts.

For further information, please visit homepage: https://abl-group.com/

Kilde

TekBot · april 19, 2023, 10:25am

Akastor ASA: Minutes of Annual General Meeting 2023

The Annual General Meeting of Akastor ASA (OSE: AKAST) was held on Wednesday 19
April 2023. The meeting was held as a digital meeting.

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All proposals on the agenda were adopted, cf. Notice of Annual General Meeting
attached to the stock exchange release dated 29 March 2023.

The general meeting elected two shareholder-appointed directors to the board.
Luis Antonio G. Araujo and Kathryn Baker were both re-elected for a period of
two years.

The board of directors now comprises of:

Frank Reite (chairperson)

Lone Fønss Schrøder (deputy chairperson)

Svein Oskar Stoknes (director)

Kathryn Baker (director)

Luis Antonio G. Araujo (director)

Henning Jensen (director, employee-elected)

Stian Sjølund (director, employee-elected)

Asle Christian Halvorsen (director, employee-elected)

The complete minutes are attached to this release and are also available
at www.akastor.com.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Mob: +47 917 59 705

E-mail: oyvind.paaske@akastor.com

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

Kilde

TekBot · april 27, 2023, 5:02am

Akastor ASA: Resultat for første kvartal 2023

Høydepunkter fra første kvartal

· Avtale med ABL Group vedrørende salg av AGR mot en kombinasjoner av aksjer
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og kontanter inngått i kvartalet
· Sterk ordreinngang i HMH gjennom kvartalet med vekst på 20% sammenlignet med
samme periode i fjor drevet av flere vedlikeholds- og oppgraderingsprosjekter
sikret i perioden
· Netto sysselsatt kapital var 4,7 milliarder kroner mens bokført egenkapital
var 4,2 milliarder kroner per kvartalsslutt. Bokført egenkapital tilsvarer 15,3
kroner per aksje.

Akastor CEO Karl Erik Kjelstad kommenterer:

«I første kvartal var vi særlig fornøyde med å annonsere salget av AGR til ABL
Group. Transaksjonen skaper et sterkere selskap og gir Akastor økt grad av
fleksibilitet og likviditet som aksjonær i ABL. HMM leverte god vekst i både
inntekter og inntjening sammenlignet med første kvartal i fjor, og selskapet
hadde også høy ordreinngang innenfor vedlikehold drevet av
riggoppgraderingsprosjekter. Vi har god tro på økt service aktivitet for HMH
fremover basert på dagens ordrebok og positiv utvikling i rigg markedet.»

For ytterligere kommentarer vedr. Akastor sine porteføljeselskaper, vennligst se
engelsk versjon av børsmeldingen.

Mediekontakt

Øyvind Paaske

Chief Financial Officer
Tel: +47 917 59 705
Epost: oyvind.paaske@akastor.com

Opplysningene i denne meldingen er informasjonspliktig etter
verdipapirhandelloven § 5-12.

Kilde

TekBot · april 27, 2023, 5:02am

Akastor ASA: First Quarter Results 2023

First Quarter Highlights

· Agreement with ABL Group re. sale of all shares in AGR against a combination
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of shares in ABL and cash entered into in the quarter
· Strong order intake in HMH in period with 20% growth year-on-year driven by
Aftermarket Services, including strategic orders for digital technology upgrades
and equipment overhauls
· Net capital employed of NOK 4.7 billion and equity of NOK 4.2 billion per
end of quarter, corresponding to NOK 15.3 per share

Akastor CEO Karl Erik Kjelstad comments:

“During the first quarter, we were particularly pleased to announce the
agreement to sell AGR to ABL Group. The transaction creates a stronger company
and provides Akastor with more flexibility and increased liquidity as
shareholders in ABL. HMH delivered good growth year-on-year for both revenue and
EBITDA, and a solid service order intake driven by rig upgrade projects. We
remain optimistic that service activity will further increase going forward
based on the current order backlog and continued positive rig market
development.”

HMH
HMH reported revenues of USD 186 million in the quarter, with an adjusted EBITDA
of USD 19 million, corresponding to an EBITDA margin of approximately 10
percent.

Revenues from Aftermarket Services were USD 123 million in the quarter, a strong
increase compared to first quarter last year driven by improved order intake in
2022. Revenues down 12% quarter-on-quarter due to increase build up in previous
period due to ERP implementation and non-recurring performance bonus received in
4Q 2022. Order intake within this segment in period was up 25% year-on-year and
up 20% quarter-on-quarter driven by increased rig year activity and upside for
upgrade orders.

Revenues from Projects, Products & Other were USD 62 million in the first
quarter, Revenue up 38% year-on-year and up 13% quarter-on-quarter driven by
GMGS project and Middle East jack-up and North America land activity. HMH
continues to see significant single equipment opportunities in MENAT going
forward. The rig newbuilding market continues to be muted with few projects
expected to materialize in the short to medium term.

AKOFS Offshore

AKOFS Offshore reported revenues of USD 36 million and EBITDA of USD 11 million
in the quarter.

AKOFS Offshore delivered solid operational performance on the two vessels in
operations through the full quarter, Aker Wayfarer and AKOFS Seafarer, with
revenue utilization of 99 and 87 percent respectively. AKOFS Seafarer
utilization was affected by waiting on weather, with technical uptime of 97
percent. AKOFS Santos commenced its new contract on March 10[th] after some
delay related to a sub-supplier, which affected revenue utilization in the
quarter.

Other industrial holdings

As a result of the agreement with ABL Group regarding the sale of AGR, AGR was
presented as discontinued operations and held for sale and thus not included in
consolidated revenue and EBITDA in the period.

Financial holdings

Net financials were positive NOK 87 million in the quarter. Odfjell Drilling
contributed positively with NOK 11 million, while NES Fircroft contributed with
NOK 21 million. Net financial items also include non-cash net foreign exchange
gain of NOK 69 million.

Share of net profit from equity accounted investees, AKOFS Offshore and HMH,
contributed negatively with NOK 94 million. AKOFS Offshore contributed
negatively with NOK 59 million, whilst HMH contributed negatively with NOK 35
million.

Consolidated financial figures

Group revenue and EBITDA of Akastor was NOK 68 million and NOK -17 million,
respectively. Consolidated revenue and EBTDA include earnings from subsidiaries
which represent a minor part of Akastor’s total Net Capital Employed.

Financial calendar

Second Quarter and Half-Yearly Results 2023: July 13, 2023

Media Contact

Øyvind Paaske

Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

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

Kilde

Oil_investor.00 · mai 31, 2023, 8:34pm

Hvordan tror man utviklingen vil se ut her fremover? Har muligens nådd bunnen nå, og gjort klart for opptur? Potensielt solide triggere fremover, samt god track record fra ledelsen til å realisere investeringer godt over bokførte verdier.

26.05.23: AKAST APOLLO ASSET LIMITED 1.016.406 16.437.820 6,0(%).

aksjewonka · juni 1, 2023, 3:46am

Det tok tid, men 9 tallet kom til slutt

Midlang86 · juni 1, 2023, 4:35am

Takk dor denne påminnelsen, har ikke fulgt aksjen siden da.
Mulig fin inngang dette.

aksjewonka · juni 1, 2023, 4:53am

Jeg venter

Thx · juni 1, 2023, 8:49am

Inne igjen

Midlang86 · juni 1, 2023, 9:32am

Avventer enda😎

Midlang86 · juni 13, 2023, 7:32pm

Da har jeg satt første posisjon.
Har meget tro på Q2 her, det kommer til å reflektere 100 mill ekstra for ABL salget.
cash flow vil øke, og kurs BØR stige raskt over 15kr, da kun EK tilsier aksjeverdi kr 15.

Oil_investor.00 · juni 17, 2023, 8:11am

Meget spennende. På sen-sommeren / tidlig høst får vi også svaret på hvor mye penger Akastor skal ha i DRU-Arbitration. Kan potensielt bli 2-3kr ekstra per aksje, i tillegg til alt annet positivt som skjer. Må snart ta av denne!

TekBot · juni 29, 2023, 7:01am

Akastor ASA: Invitation to presentation of second quarter results 2023

Akastor ASA invites investors and analysts to a webcast presentation of second
quarter 2023 financial results on Thursday 13 July.

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Date and time:
Thursday 13 July 2023 at 15:00 CET

Presenters:
Akastor - Karl Erik Kjelstad, CEO and Øyvind Paaske, CFO
HMH - Eirik Bergsvik, CEO and Thomas McGee, CFO

Link to webcast:
https://channel.royalcast.com/webcast/hegnarmedia/20230713_6

Questions can be submitted throughout the streaming event.

The presentation material will be published at www.akastor.com and
www.newsweb.noat 07:00 CET on 13 July.

For further information, please contact:

Øyvind Paaske
Chief Financial Officer
Mob: +47 917 59 705
E-mail: oyvind.paaske@akastor.com

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

Kilde

TekBot · juni 30, 2023, 11:59am

Akastor ASA: Settlement of USD 20m seller’s credit

Akastor ASA: Settlement of USD 20m seller’s credit

Reference is made to the stock exchange announcement on 29 November 2022 by
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Akastor ASA (OSE: AKAST, “Akastor”) regarding the sale by Akastor of certain
preference shares to Odfjell Drilling, of which USD 20 million of the USD 95.2
million purchase price was to be settled pursuant to a seller’s credit
arrangement with maturity date 31 July 2024. Following a recent refinancing in
Odfjell Drilling, the USD 20 million seller’s credit has now been fully and
finally settled.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

Oyvind.paaske@akastor.com

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

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

Kilde

TekBot · juli 13, 2023, 5:00am

Akastor ASA: Second Quarter and Half Year Results 2023

Second Quarter Highlights

· Net capital employed of NOK 4.8 billion and equity of NOK 4.3 billion,
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corresponding to NOK 15.7 per share
· Odfjell Drilling USD 20 million seller’s credit fully settled in second
quarter, with proceeds reducing net bank debt
· HMH delivered increased EBITDA year-over-year and quarter-over-quarter
following increased service activity and continue to deliver growth in order
intake for the fifth consecutive quarter
· Sale of AGR to ABL Group against a combination of ABL shares and cash
completed in quarter

Akastor CEO Karl Erik Kjelstad comments:

“We are pleased to see HMH’s robust performance in the quarter with growth in
both revenues and earnings, driven by continued increasing aftermarket activity.
Furthermore, order intake grew for the fifth consecutive quarter, establishing a
solid foundation for growth also going forward. Akastor’s primary focus remains
on realizing its holdings and we are very pleased by having received full
settlement of our seller’s credit towards Odfjell Drilling in the quarter, with
proceeds having reduced net bank debt. Looking ahead, we are actively pursuing
further realizations and anticipate a resolution to the DRU arbitration in the
latter half of 2023.”

The full report and presentation are attached to this release and also available
at www.akastor.com.

Media Contact

Øyvind Paaske

Chief Financial Officer
Tel: +47 917 59 705
E-mail: oyvind.paaske@akastor.com

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

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

Kilde

TekBot · juli 24, 2023, 7:33pm

Akastor ASA: Completed sale of DDW Offshore vessels to OceanPact

Reference is made to the stock exchange announcement on 18 March 2021 by Akastor
ASA (OSE: AKAST, “Akastor”) regarding the two AHTS vessels Skandi Saigon and
Skandi Pacific, which are owned by Akastor’s subsidiary DDW Offshore AS ("DDW
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Offshore") and contracted out to OceanPact Servicos Maritimos S.A. (“OceanPact”)
under a bareboat agreement with a purchase obligation at the end of the bareboat
term. Following expiry of the charter period, both vessels are now sold to
OceanPact for the agreed cash payment of USD 18 million for both vessels, of
which 50% will be shared with the DDW Offshore lenders in accordance with the
profit split agreement that was part of the DDW Offshore restructuring completed
in October 2020 (see announcement issued 27 August 2020 for further details).
The remaining part of the sales proceeds will go to reduce net debt in DDW
Offshore.

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

Oyvind.paaske@akastor.com

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

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

Kilde

TekBot · august 17, 2023, 6:12am

Disclosure of large shareholding

TekBot · september 26, 2023, 5:29am

Akastor ASA: DDW Offshore completes USD 31 million refinancing

Akastor ASA’s (OSE: AKAST, “Akastor”) wholly owned subsidiary DDW Offshore AS
(“DDW Offshore”) has completed a USD 31 million refinancing provided by EnTrust
Global’s Blue Ocean Funds as lenders. The new loan agreement matures in
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September 2026 and is guaranteed by Akastor. The funds have been or will be used
for the following purposes:

i. settlement of the existing loan facility maturing in February 2024;
ii. settlement of the profit split arrangement for the two vessels Skandi
Atlantic and Skandi Emerald that was agreed with the previous lenders (see press
release 27 August 2020 for further details);
iii. reactivation of “Skandi Peregrino”, which is currently in warm lay-up, and;
iv. general corporate purposes.

Following these transactions, DDW Offshore holds full economic interest in its
fleet of three Anchor Handling Tug Supply (AHTS) vessels (Skandi Atlantic,
Skandi Emerald and Skandi Peregrino).

For further information, please contact:

Øyvind Paaske

Chief Financial Officer

Tel: +47 917 59 705

Oyvind.paaske@akastor.com

Akastor is a Norway-based oil-services investment company with a portfolio of
industrial holdings and other investments. The company has a flexible mandate
for active ownership and long-term value creation.

DDW Offshore owns three modern Anchor Handling Tug Supply (AHTS) vessels (Skandi
Atlantic, Skandi Emerald and Skandi Peregrino) with capability to operate and
support clients on a world-wide basis. The vessels are specially designed to
perform anchor-handling, towing, and supply services at offshore oil and gas
fields. On 24 July 2023, DDW Offshore completed the sale of Skandi Saigon and
Skandi Pacific to OceanPact Servicos Maritimos S.A.

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

Kilde

TekBot · oktober 12, 2023, 7:01am

Akastor ASA: Invitation to presentation of third quarter results 2023

TekBot · oktober 26, 2023, 5:01am

Akastor ASA: Resultat for tredje kvartal 2023

Høydepunkter fra tredje kvartal

· HMH leverte en justert EBITDA på 35 millioner dollar, det høyeste nivået
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siden det kombinerte selskapet oppsto i oktober 2021. EBITDA økte med 25%
sammenlignet med samme periode i fjor drevet av fortsatt økende service
aktivitet
· DDW Offshore fullførte salget av skipene Skandi Saigon og Skandi Pacific til
OceanPact
· DDW Offshore refinansierte sin gjeld i kvartalet gjennom en ny fasilitet på
31 millioner dollar. Provenyet ble brukt til å betale ned tidligere banklån,
samt å kjøpe ut delingsavtalen med bankene vedr. skipsverdier
· Aker Wayfarer påbegynte sin nye kontrakt med Petrobras i juli, hvorpå alle
AKOFS Offshore sine fartøy er på kontrakt
· Netto sysselsatt kapital var 4,8 milliarder kroner mens bokført egenkapital
var 4,1 milliarder kroner per kvartalsslutt. Bokført egenkapital tilsvarer 15,1
kroner per aksje

Akastor CEO Karl Erik Kjelstad kommenterer:

«Vi fortsetter å være fornøyde med HMH sin finansielle utvikling og at utsiktene
videre fremover ser lyse ut. Når selskapet nå har fullført ERP implementeringen
går vi inn i en ny fase for selskapet hvor vi sammen med ledelsen og vår medeier
vil fokusere mer på å utforske alternativer for å gjøre vår investering i HMH
mer likvid og tror tidspunktet for dette er godt. Vi er også glade for å ha
fullført refinansieringen av DDW Offshore i kvartalet, noe som gir Akastor full
økonomisk oppside i DDW Offshore og mer fleksibilitet når det gjelder å
realisere verdiene i selskapet.»

For ytterligere kommentarer vedr. Akastor sine porteføljeselskaper, vennligst se
engelsk versjon av børsmeldingen.

Mediekontakt

Øyvind Paaske

Chief Financial Officer
Tel: +47 917 59 705
Epost: oyvind.paaske@akastor.com

Opplysningene i denne meldingen er informasjonspliktig etter
verdipapirhandelloven § 5-12.

Kilde