DOF ASA (DOF) 🚢

TekBot · mars 22, 2019, 12:52pm

22/03-2019 13:51:03: (DOF) Financial calendar

TekBot · mars 22, 2019, 1:01pm

22/03-2019 14:00:17: (DOF) DOF ASA Annual Report 2018

Please find attached the DOF ASA Annual Report 2018. The Annual Report and
the Sustainability Report 2018 are available on the company’s web site
www.dof.com.
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For further information, please contact:

CEO Mons S. Aase, +47 91 66 10 12
CFO Hilde Drønen, +47 91 66 10 09
With a multi-national workforce of about 3,600 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://www.netfonds.no/quotes/release.php?id=20190322.OBI.20190322S65

TekBot · mai 3, 2019, 6:01am

03/05-2019 08:00:07: (DOF) Notice of ordinary general meeting DOF ASA

Please find attached the Notice of Ordinary General Meeting of DOF ASA.

The Ordinary General Meeting will be held on Friday 24 May 2019 at 11.00 hours,
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in the company’s facilities at Storebø in the municipality of Austevoll. A
printed version of the notice will be sent by post to all shareholders.

The Annual report 2018 is available on the company’s web site www.dof.com.

The information is subject of the disclosure requirements acc. to § 5-12 vphl
(Norwegian Securities Trading Act).

Contact persons:

CEO Mons S. Aase, +47 91 66 10 12
CFO Hilde Drønen, +47 91 66 10 09
With a multi-national workforce of about 3,600 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://www.netfonds.no/quotes/release.php?id=20190503.OBI.20190503S22

TekBot · mai 9, 2019, 12:00pm

09/05-2019 14:00:16: (DOF) DOF Subsea is awarded key North Sea contracts and frame agreements

DOF Subsea, a subsidiary of DOF ASA, has recently secured several new contracts
for project scopes to be carried out over the next few months in the North Sea.

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The contracts, which have been secured for key clients in the UK and Norway,
involve a variety of different activities and capabilities including UXO
investigation/detonation, Seabed Mapping, Pipeline and Structural Inspection and
Seabed rectification support using DOF Subsea’s vessels Skandi Skansen, Geosund
and Skandi Hera. In addition, the company has also recently been awarded three
new North Sea frame agreements for IRM and Survey work. The accumulated revenue
from these contract awards are estimated to be around 80 million NOK and secures
utilisation of approximately 100 vessel days.

Commenting on these awards, Jan-Kristian Haukeland, EVP DOF Subsea Atlantic
said, “The award of these contracts and frame agreements highlights DOF Subsea’s
versatility and ability to respond to differing client requirements using the
extensive experience and competence within our resource pool.”

For further information, please contact:

Mons S. Aase, CEO Tel: +47 91 66 10 12

Hilde Drønen, CFO Tel: +47 91 66 10 09
With a multi-national workforce of about 3,600 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://www.netfonds.no/quotes/release.php?id=20190509.OBI.20190509S127

TekBot · mai 13, 2019, 6:03am

13/05-2019 08:03:16: (DOF) Invitation to presentation of Q1 2019 results

DOF ASA will present the Q1 results 2019 at Norges Rederiforbund, Rådhusgt. 25,
7th floor, Oslo, on Thursday 23 May 2019 at 08:30.

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The presentation will be held by CEO Mons S. Aase and CFO Hilde Drønen.

Due to practical reasons we ask those of you interested in attending the
presentation, to please register to Margrethe R. Østervold, e-mail mro@dof.com,
within Tuesday 21 May 2019.

The presentation will be webcasted at www.dof.com.
With a multi-national workforce of about 3,600 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://www.netfonds.no/quotes/release.php?id=20190513.OBI.20190513S19

TekBot · mai 20, 2019, 9:00am

20/05-2019 11:00:07: (DOF) DOF, KONGSBERG, SINTEF Ocean, and NORCE join forces to deliver ‘Intelligent Efficiency’ for offshore operations

New Decision Support System under development to improve operational, economic
and environmental sustainability.

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DOF has formed a partnership with Kongsberg Maritime, SINTEF Ocean and NORCE,
which aims to reduce fuel consumption and greenhouse gas emissions for complex
offshore operations, while streamlining fleet-wide maintenance.

Enabled through sponsorship and support from Innovation Norway, the new
partnership between four of Norway’s most established and advanced maritime
organisations will develop a sophisticated new Decision Support System (DSS) for
offshore vessel operations.

This new predictive, intelligent, and dynamic guidance tool will act as the
foundation for DOF to simplify operational complexity with objective
measurement, ultimately enabling optimal utilisation and more sustainable fleet
management.

Highlighting the potential of the partnership to catalyse a tangible
transformation, the multi-year project is backed with Innovation Norway’s
largest funded offshore vessel, environmental technology project in 2018. It
will be a gamechanger in how marine operational decisions are supported by
providing more accurate, timely, and easily consumable information to decision
makers; from the vessel’s Chief Engineer to the Chief Operation Officer based
shore-side.

“The partnership is focused on building a platform for intelligent efficiency,
made possible only through the integration of operational, information and
communication technologies,” said," Eirik Mathiesen, Director of Energy Products
Integration, Kongsberg Maritime. “Encompassing IoT, new smart sensors on board
will stream accurate data to the cloud-based DSS, where deep analysis with
intuitive presentation and application will drive equitable and predictable
operational performance.”

“Going ‘smart’ is integral to maintaining our position as the number one OSV
ship manager today and into the future, in a sustainable way,” said Lars
Christian Larsen, Senior Project Manager for Energy Management, DOF. “Smart is
not just deploying the right technologies. Developing our culture to focus even
more on sustainable operations with minimal environmental impact will be as
important as the technology we create with KONGSBERG, SINTEF Ocean and NORCE.
DOF’s maritime experience together with the collection of big data in an
operationally logical way will ensure success.”

“Information is power, and when that information relates directly to power
consumption, it can revolutionise vessel operations, from onboard electrical
load management to route optimisation for passage by sea,” said Anders Valland,
Research Manager, Maritime Energy Systems, SINTEF Ocean. “This is an exciting
project that strengthens Norway’s position as the world’s leading offshore and
maritime innovator with focus on efficient and sustainable operations.”

For further information, please contact:

Mons S. Aase, CEO, Tel: +47 91 66 10 12

Hilde Drønen, CFO, Tel.: +47 91 66 10 09

Lars Christian Larsen, Senior Project Manager, Tel.: +47 56 18 13 61
With a multi-national workforce of about 3,600 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://www.netfonds.no/quotes/release.php?id=20190520.OBI.20190520S31

TekBot · mai 22, 2019, 12:00pm

22/05-2019 14:00:15: (DOF) Contract awards in Brazil

The DOF Group has been awarded several contracts for its fleet in Brazil
commencing during the next months.

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Norskan Offshore has been awarded a contract from Total in Brazil for the AHTS
Skandi Rio. The vessel will perform anchor handling and supply activities
supporting Totals growing operations in Brazil. The contract will commence
shortly and has a maturity of 13-months firm and 2 x 6 months option.

DOF Subsea Brasil has been awarded a contract from Sapura Energy do Brasil in
Northeast of Brazil for final Client CELSE (Centrais Elétricas de Sergipe S.A.).
Skandi Seven will be utilised for this project and will perform a Riser and
Umbilical installation for a Floating Storage and Regasification Unit (FSRU) for
natural gas supply to Celse’s power plant. The project is 20 days firm and 4 x 5
days options commencing last week of May.

The PLSV Skandi Niterói has been committed with TechnipFMC for the Peregrino
Phase II SURF Project of Equinor in Brazil. She will start operations in the
next few months on this project announced by TechnipFMC on September 28th, 2017.
The Skandi Niterói, a Brazilian flagged flexible lay and construction vessel was
built in Brazil and is owned by a Joint-Venture formed by DOF (50%) and
TechnipFMC (50%).

The CEO Mons Aase states that he is very pleased with this contract awards,
which confirms the DOF Group’s strong position in the South America region.

For further information, please contact:

Mons S. Aase, CEO - Tel: +47 91 66 10 12

Hilde Drønen, CFO - Tel: + 47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://www.netfonds.no/quotes/release.php?id=20190522.OBI.20190522S76

TekBot · mai 22, 2019, 7:11pm

22/05-2019 21:11:19: (DOF) Financial Report 1st quarter for DOF ASA

Financial Report 1st quarter for DOF ASA

The Group’s operating income for 1st quarter (management reporting) totals NOK
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1,633 million (NOK 1,690 million) and the operating profit before depreciation
and impairment (EBITDA) totals NOK 496 million (NOK 479 million). The Ebitda
adjusted for hedge accounting is NOK 541 million (NOK 520 million) and the
operating profit (EBIT) is NOK 133 million (NOK - 11 million), of which
depreciation and impairment totals NOK 363 million (NOK 490 million).

The average utilisation of the Group’s fleet during the 1st quarter was 70%; 67%
for the subsea fleet, 68% for the AHTS fleet and 78% for the PSV fleet.

The market has improved for the North Sea PSV fleet, but are still challenging
for the AHTS fleet and the subsea IRM fleet. All newbuilds (PLSVs) are delivered
and on contracts.

The Group’s backlog is NOK 20 billion.

As a result of the continued challenging market situation, the Group has
experienced that regular rollover (or refinancing) of existing loan facilities
is very challenging. This new situation is likely to result in the Group being
in breach of its financial covenants in the near future and the Group being
unable to repay (or rollover) certain of its existing loans when they fall due.
The management will commence a dialogue with the involved parties and believes
it is possible to reach agreements to solve the expected challenging situation
for the Group, although no assurance can be given that the Group will be
successful in this respect. The effects of such breach are further described in
note 9 (Net interest bearing debt) to the quarterly accounts.

Please see enclosed 1st quarter Financial Report 2019

Webcast is available Thursday, 23nd May 2019 at 08:30 on www.dof.com.

Contact:

CEO Mons Aase, Tel + 47 91 66 10 12

CFO Hilde Drønen, Tel + 47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://www.netfonds.no/quotes/release.php?id=20190522.OBI.20190522S120

TekBot · mai 24, 2019, 10:08am

24/05-2019 12:07:12: (DOF) Ordinary general meeting DOF ASA

Ordinary general meeting in DOF ASA was held today, 24 May 2019.

All items were resolved in accordance with the Boards calling notice and the
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Nomination committee’s recommendations.

Please find attached copy of the minutes of the ordinary general meeting in DOF
ASA 2019.

Contact person:

CEO Mons Aase, tel. +47 91661012

CFO Hilde Drønen, tel. +47 91661009
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://www.netfonds.no/quotes/release.php?id=20190524.OBI.20190524S47

TekBot · juni 7, 2019, 12:24pm

07/06-2019 14:23:29: (DOF) Extension contract in Brazil

Norskan has been granted a 1-year extension for the Skandi Hav with Petrobras
applicable from June 2019. Skandi Hav completed a conversion in 2009 and since
then operated as a field support vessel for Petrobras.
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DOF ASA CEO, Mons S. Aase, said “We are pleased with this contract which further
confirms our strong market position in Brazil”.

For further information, please contact:

Mons S. Aase, CEO - Tel: +47 91 66 10 12

Hilde Drønen, CFO - Tel: + 47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://www.netfonds.no/quotes/release.php?id=20190607.OBI.20190607S60

TekBot · juni 17, 2019, 9:48pm

14/06-2019 12:19:53: (DOF) Extension contract in Brazil

Norskan has been granted a 1-year extension for the Skandi Botagofo with
Petrobras applicable from June 2019. Skandi Botafogo is an AHTS (UT 722 L) built
in 2006.
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For further information, please contact:

Mons S. Aase, CEO - Tel: +47 91 66 10 12

Hilde Drønen, CFO - Tel: + 47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

http://quotes.hegnar.no/release.php?id=20190614.OBI.20190614S24

TekBot · juni 25, 2019, 6:00am

25/06-2019 08:00:02: (DOF) Update on refinancing and covenant amendments - DOF Subsea AS

DOF ASA - Request by DOF Subsea AS to amend the financial covenants in its bond
loan agreements and certain of its bank loans in order to align financial
covenants in the financing facilities of DOF Subsea AS
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Reference is made to the stock exchange announcement of DOF ASA (“DOF” or the
“Company” and together with its subsidiaries the “Group”) on 22 May 2019, in
which it was informed that the Group has experienced that regular rollover (or
refinancing) of existing loan facilities is very challenging and that the new
situation is likely to result in the Group being in breach of its financial
covenants in the near future and being unable to repay (or rollover) certain of
its existing loans when they fall due.

As also informed in such stock exchange announcement, the Group has commenced a
dialogue with the involved parties in order to reach agreements to solve the
situation for the Group.

Based on such dialogues, the Group has obtained an extension until end November
2019 of a loan and is working on solutions in order to reduce the refinancing
risk and further stabilize the situation.

The events have, in the Group’s view, highlighted the need to align loan
covenants as much as possible, as DOF Subsea AS currently has deviating
requirements for minimum cash in several of its bank debt agreements and also
for its bond loans. Consequently, DOF Subsea AS wants to align the DOF Subsea
group’s liquidity covenants for all its debt facilities including the bond
loans.

On this basis, DOF Subsea AS has resolved to summon bondholder meetings for all
of its three bond loans (FRN DOF Subsea AS Senior Unsecured Bond Issue
2013/2020, DOF Subsea AS 9.50% Senior Unsecured Bond Issue 2017/2022 and FRN DOF
Subsea AS Senior Unsecured Bond Issue 2018/2023). DOF Subsea is requesting that
all its minimum cash covenants are aligned to be measured using the proportional
consolidation method (“management accounts”), which implies a change for bonds
to the method already applied by banks, with a common threshold of NOK 400
million, which implies an increased amount from NOK 300 million for the DOFSUB07
bond, no change for the DOFSUB08/09 bonds and most banks, and a reduction from
NOK 500 million for certain banks. The proposal and the background for the
proposal will be further described in the summons to the bondholders in the
three bond loans expected to be announced by DOF Subsea AS later today. A
similar request is made to banks where required to align the cash covenants.

Provided that these changes are approved, the Group believes that it has
established a satisfactory short term platform, which may contribute to finding
a long term financing solution for the Group together with the relevant
stakeholders.

The Group (excluding the DOF Subsea group) will not request any amendments to
its financial covenants at this stage.

For further queries, please contact:

CEO Mons Aase, tel. +47 91 66 10 12

CFO Hilde Drønen, tel. +47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

Kilde

TekBot · juli 2, 2019, 10:19am

02/07-2019 12:19:18: (DOF) DOF Group received several new contract awards

DOF Rederi AS - Long-term contracts for Multi Role Vessels (MRV)

DOF Rederi AS (DOF) has been awarded three long-term contracts for the MRV’s;
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“Skandi Hugen”, “Skandi Nova” and “Skandi Marøy” by ConocoPhillips Skandinavia
AS.

The contracts have a duration of 5 years, with further 3 x 3 yearly options. The
contracts will commence in Q4 2019 and Q1 2020.

ConocoPhillips Skandinavia AS have declared the options for IMR and ROV services
from DOF Subsea Norway AS in connection with the MRV vessel Skandi Hugen, with
the same duration.

The commercial terms of the contracts are confidential between the parties.

In a statement Mons Aase said, “We are pleased to have these contracts signed
and are prepared to continue our good relationship with ConocoPhillips.”

For further information, please contact:

Mons S. Aase, CEO, DOF ASA Tel: +47 91 66 10 12

Hilde Drønen, CFO, DOF ASA,Tel: +47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

Kilde

TekBot · juli 3, 2019, 1:57pm

03/07-2019 15:57:24: (DOF) DOF ASA - New share capital

Reference is made to previous stock exchange announcements regarding the
subordinated convertible bond loan issued by DOF ASA (“DOF” or the “Company”) on
5 August 2016 (the “Subordinated Convertible Bond”).
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Bondholders in the Subordinated Convertible Bond have in accordance with the
terms and conditions of the Subordinated Convertible Bond requested to convert
bonds with an aggregate nominal value of NOK 55,500,000 to new shares in the
Company.

As a result, the share capital of the Company has today, 3 July 2019, been
increased with NOK 27,750,000 by issuance of 5,550,000 new shares, each with a
nominal value of NOK 5, at the conversion price of NOK 10.00 per share.
Following the share capital increase, the Company’s share capital is NOK
1,493,938,895, divided into 298,787,779 shares, each with a nominal value of NOK
5.

The new shares will be registered on the respective bondholders’ VPS accounts
and be tradable on the Oslo Stock Exchange from and including 4 July 2019.

Following the conversion, the new outstanding amount under the Subordinated
Convertible Bond is NOK 176,683,885.

For further information, please contact:

CEO Mons Aase, tel. +47 91 66 10 12

CFO Hilde Drønen, tel. +47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

Kilde

TekBot · juli 10, 2019, 1:31pm

Notice from bondholder meeting DOF Subsea AS

Reference is made to the summons letter dated 25 June 2019 regarding the DOF
Subsea’s three senior unsecured bond issues with ISIN NO 001 0670144
(“DOFSUB07”), ISIN NO 001 0788177 (“DOFSUB08”), and ISIN NO 001 0836810
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(“DOFSUB09”) issued by DOF Subsea AS, regarding a request for minimum cash
covenants under applicable loans to be measured using the proportional
consolidation method (“management accounts”), in an effort to align the
covenants with those in the group’s bank loans. The bondholders’ meeting was
held today and the proposed resolution received 70.43%, 70.37%, and 90.68% of
the votes in DOFSUB07, DOFSUB08, and DOFSUB09 respectively. Approval of the
proposal set out in the summons required 2/3 majority in all three bonds, and
the proposal was consequently approved. All three bond agreements will therefore
be changed as set out in the summons. Please see attached minutes from
bondholders’ meeting.

Following the bondholder’s approval of the DOF Subsea’s request for alignment of
the cash covenants, DOF Subsea intends to facilitate that limitations on
dividend and distributions from DOF Subsea under applicable loan agreements is
extended.

For further information, please contact:

Mons S. Aase, CEO Tel: +47 91 66 10 12

Hilde Drønen, CFO Tel: +47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

Kilde

TekBot · juli 11, 2019, 7:30am

New contracts

DOF has been awarded a 2 well firm plus 1 well option contract for Skandi
Caledonia by Premier UK. Commencement will be in Q3, firm period is estimated to
around 4 months.
…

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DOF (UK) Limited has been awarded a drilling support contract for the Skandi
Barra by an undisclosed client. Commencement is planned for July.

For further information, please contact:

CEO Mons S. Aase, +47 91 66 10 12
CFO Hilde Drønen, +47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

Kilde

TekBot · juli 15, 2019, 2:00pm

DOF Subsea contract awards

DOF Subsea has been awarded several contracts, securing utilisation for vessels
in the Subsea/IMR Projects segment.

…

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In the Atlantic region, Skandi Skansen has been awarded a contract for mooring
installation on the Njord Future project by Equinor.

The Atlantic region further announces successful contract awards on the UKCS for
two operators to undertake 60 days of work using the Geosund, one of which is
called off under a long-term frame agreement. The works include pipeline
inspection and environmental sampling.

In the North America region, DOF Subsea is pleased to announce a 3-year renewal
of a frame agreement with a major operator in the US Gulf of Mexico (GOM). Under
the frame agreement, DOF Subsea will be responsible for the final assembly,
transportation and installation of well production jumpers and control flying
leads to support new tie-ins to existing brownfields. The primary installation
vessel will be the Jones Act compliant vessel Harvey Deep Sea.

For further information, please contact:

Mons S. Aase, CEO, Tel: +47 91 66 10 12

Hilde Drønen, CFO, Tel: +47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

Kilde

TekBot · juli 30, 2019, 8:48am

DOF ASA - New share capital

Reference is made to previous stock exchange announcements regarding the
subordinated convertible bond loan issued by DOF ASA (“DOF” or the “Company”) on
5 August 2016 (the “Subordinated Convertible Bond”).
…

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Bondholders in the Subordinated Convertible Bond have in accordance with the
terms and conditions of the Subordinated Convertible Bond requested to convert
bonds with an aggregate nominal value of NOK 21,000,000 to new shares in the
Company.

As a result, the share capital of the Company has today, 30 July 2019, been
increased with NOK 10,500,000 by issuance of 2,100,000 new shares, each with a
nominal value of NOK 5, at the conversion price of NOK 10.00 per share.
Following the share capital increase, the Company’s share capital is NOK
1,504,438,895, divided into 300,887,779 shares, each with a nominal value of NOK
5.

The new shares will be registered on the respective bondholders’ VPS accounts
and be tradable on the Oslo Stock Exchange from and including 31 July 2019.

Following the conversion, the new outstanding amount under the Subordinated
Convertible Bond is NOK 155,683,885.

For further information, please contact:

CEO Mons Aase, tel. +47 91 66 10 12

CFO Hilde Drønen, tel. +47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

Kilde

TekBot · august 6, 2019, 6:31am

Long term contract for PSV Skandi Feistein with Esso Australia

DOF Rederi AS, a wholly owned subsidiary of DOF ASA, has signed a 5-year
contract for the PSV Skandi Feistein with Esso Australia Pty Ltd.

…

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The contract will commence in second half 2019. Skandi Feistein is a large PSV
built in Norway in 2011.

Mons S. Aase, CEO DOF ASA comments: “This is a very important win for us. It is
our first long term contract with Esso in Australia and an important step in our
strategy of growing our fleet in the APAC region. I think this award is further
proof of our ability to deliver world class services on a global basis.”

For further information, please contact:

CEO Mons S. Aase, +47 91 66 10 12
CFO Hilde Drønen, +47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

Kilde

TekBot · august 8, 2019, 1:00pm

Contract award for Skandi Skansen

DOF Subsea Group is proud to announce the successful contract award for a major
operator within the UKCS sector to decommission subsea infrastructure in Q3,
2019. The works will be undertaken by the Skandi Skansen together with DOF owned
…

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AHTS vessels. This is the second award with the same operator in as many months
in the decommissioning segment.

For further information, please contact:

Mons S. Aase, CEO - Tel: +47 91 66 10 12

Hilde Drønen, CFO - Tel: +47 91 66 10 09
With a multi-national workforce of about 3,500 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 35 years in the offshore business, the group has a
strong position in terms of experience, innovation, product range, technology
and capacity.
DOF’s 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 company’s main operation centers and business units are located in Norway,
the UK, the USA, Singapore, Brazil, Argentina, Egypt, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.

Kilde