Reference is made to the announcement made by DOF ASA ("DOF") and its subsidiary
DOF Subsea AS on 22 June 2022 regarding the execution of an agreement (the
"Restructuring Agreement") with a substantial group of creditors and certain
other stakeholders on a comprehensive financial restructuring (the
"Restructuring") and the announcement on 13 October 2022 regarding the update on
the Restructuring process.
The Extraordinary General Meeting relating to the Restructuring will be held on
Friday 11 November 2022 at 12:00 hours as an electronic meeting. Shareholders
who wish to participate and vote at the Extraordinary General Meeting must be
registered with a user profile in the meeting portal Orgbrain (www.orgbrain.no)
or submit a proxy to the Company by 12:00 hrs CET on 7 November 2022.
Information about participation and registration is included in the notice and
its appendices and is attached to this announcement and also available on the
Company's website www.dof.com. Further information about the electronic
participation will be published on the Company's website www.dof.com and
distributed to the shareholders who fill in and return the registration form.
A paper version of the notice will be sent by post to those shareholders who
have reserved themselves against electronic communication on the VPS Investor
In addition, DOF is pleased to announce that the senior creditors that are
parties to the Restructuring Agreement have agreed to extend the Long Stop Date
in the Restructuring Agreement to 30 November 2022, and that the ad-hoc group of
bondholders in DOF Subsea AS' 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) has extended the
standstill arrangements with the bondholders to 30 November 2022 in accordance
with the authority granted in the bondholders' meetings held on 30 September
2022. The sole purpose of such extensions is to enable that the agreed
Restructuring can be implemented.
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 subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
With a multi-national workforce of about 3,900 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 Stock Exchange since 1997.