DOF ASA: Hordaland tingrett has resolved to open bankruptcy proceedings
Reference is made to DOF ASA's (the "Company" or "DOF ASA", and together with
its subsidiaries the "Group") announcement at 21:00 on 1 February 2023 regarding
the request to Hordaland tingrett to open bankruptcy proceedings in DOF ASA and
continuation of the financial restructuring to ensure continued operations of
all other companies in the Group in spite of the bankruptcy in DOF ASA.
Hordaland tingrett has now resolved to open bankruptcy proceedings in DOF ASA
and it is expected that the administrator of the bankruptcy estate shortly will
enter into the agreement with the financial creditors of the Group facilitating
that the other companies in the Group than DOF ASA will remain unaffected by the
bankruptcy in DOF ASA. As a result of said agreement, the bankruptcy of DOF ASA
will be limited solely to such Company and will not affect any other company in
the Group. Such alternative implementation of the agreed financial restructuring
has been structured to avoid any interruption to the ongoing operations of the
Group and to avoid losses for the Group's customers, suppliers and other trade
creditors. Consequently, no other creditors than the financial creditors, nor
any of the employees of the Group, are to be affected by such alternative
implementation of the financial restructuring.
For further information, please contact:
CEO Mons Aase, tel. +47 91 66 10 12
CFO Hilde Drønen, tel. +47 91 66 10 09
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange
announcement was published by Hilde Drønen, CFO, DOF ASA.
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. 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, Canada, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.