Reference is made to the Stock Exchange release on 7 April 2020 about Agreements with lenders about restructuring of the Groups debt.

Reference also to Stock Exchange releases about support from bondholders meetings on the 27 April 2020 and from Extraordinary General Meeting on 28 April 2020.

The resolutions stated 31 May 2020 as the last day for entering into formal agreements. 

The documentation of the unified solution has taken longer time than the company expected.

Yesterday, the company sent Notice of an Extraordinary General Meeting to be held on the 18 June 2020 to set a new timeframe for implementation of the debt restructuring.

The company’s plan is to finalize the process as soon as possible after the 18 June 2020 subject to the General Meeting’s expected approval.

Contacts:

CEO Njål Sævik, +47 909 35 722
CFO Arne Johan Dale, +47 909 87 706

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