Reference is made to the announcements made by DOF ASA (the âCompanyâ) and DOF
Subsea AS on 22 June 2022 and 21 October 2022 regarding the execution of an
agreement (the âRestructuring Agreementâ) with a substantial group of the DOF
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groupâs financial creditors and certain other stakeholders on a comprehensive
financial restructuring (the âRestructuringâ), and the announcements on 1 and 2
February 2023 regarding the bankruptcy proceedings in the Company opened by
Hordaland district court, and the agreement between financial creditors and the
bankruptcy estate, facilitating that the Companyâs subsidiaries will remain
unaffected by the bankruptcy.
The Restructuring was today completed in accordance with the Restructuring
Agreement and the financial creditors of the DOF group have thereby acquired
100% of the ownership in New DOF ASA (renamed from DOF Services AS and in the
process of being converted to a public limited liability company), which is the
new holding company in the DOF group. Following the completion of the
Restructuring, the Company has no longer any ownership to the companies within
the DOF group.
For further information, please contact:
CEO Mons Aase, tel. +47 91 66 10 12
CFO DOF ASA Hilde Drønen, tel. +47 91 66 10 09
This information is subject to the disclosure requirements pursuant to Section 5
-12 of the Norwegian Securities Trading Act.
With a multi-national workforce of about 3,800 personnel, DOF ASA is an
international group of companies which owns and operates a fleet of modern
offshore/subsea vessels, and engineering capacity to service both the offshore
and subsea market. With over 40 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity. DOFâs core businesses are vessel ownership, vessel management,
project management, engineering, vessel operations, survey, remote intervention
and diving operations primarily for the oil and gas sector. From PSV charter to
Subsea engineering, DOF offers a full spectrum of top quality offshore services
to facilitate an ever-growing and demanding industry.
The companyâs main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Canada, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.
Kilde