Subsea services

A long track record of leading in IMR & light construction

Renewables

Advancing Floating Wind Services

Marine management

Setting the standard in ship management since 1981

The fleet

Modern, purpose-built OSVs & subsea assets

Sustainability

A responsible partner

Vision, values, & history

We are a values-driven organisation

Board & Management

Meet our Board of Directors & executive management

HSEQ

Health, Safety, Environment, & Quality

Newsroom

Read our press releases & announcements

Our people

Meet our wonderful employees & how to join the team

Careers

Learn about our many career paths

Vacancies

Direct access to all of our opportunities

Ethics Helpline

Reporting your concerns

Visit us on LinkedIn

Reports & presentations

Key investor publications

Financial calendar

Key dates for investor events, financial reports, & presentations

Webcast

Investor webcasts

Shareholder information

Analyst coverage, key figures, & event support

Financial news

Read our press releases & latest IR updates

Our newsroom

DOF Group ASA - Invitation to presentation of Q1 2025 results

articles

Select a category.

No articles found.

DOF Subsea

NOT FOR DISTRIBUTION OR RELEASE OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE IMPORTANT INFORMATION AT THE END OF THE ANNOUNCEMENT. Reference is made to press release by DOF Subsea AS (""DOF Subsea"" or the ""Company"") earlier today 25 June 2019 announcing the intention 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). The summons is being issued today and a copy of this is attached. For further information please contact: CEO Mons Aase tel. +47 91 66 10 12 CFO Jan Nore tel. +47 48 09 46 99 SVP Marianne Møgster tel. +47 99 30 69 16 ABOUT DOF Subsea The DOF Subsea Group is a specialist subsea service business that provides subsea construction subsea engineering inspection repair and maintenance and survey services which involve complex and challenging engineering in an international environment. DOF Subsea owns a large fleet of modern subsea construction intervention and survey vessels that enable it to offer differentiated positions with its clients and work in long term relationships which enhance service delivery and reduce the overall risk. The company’s core business is project management engineering vessel operations survey remote intervention and diving operations primarily for the Oil and Gas Marine Telecommunications and Renewables markets. www.dofsubsea.com IMPORTANT INFORMATION This communication may not be published distributed or transmitted in the United States Canada Australia or Japan. These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of the Company in the United States Norway or any other jurisdiction. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933 as amended (the ""U.S. Securities Act""). The securities of the Company have not been and will not be registered under the U.S. Securities Act. Any sale in the United States of the securities mentioned in this communication will be made solely to ""qualified institutional buyers"" as defined in Rule 144A under the U.S. Securities Act and to ""major U.S. institutional investors"" under SEC Rule 15a-6 to the United States Exchange Act of 1934. No public offering of the securities will be made in the United States. In any EEA Member State that has implemented the Prospectus Directive this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive i.e. only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression ""Prospectus Directive"" means Directive 2003/71/EC (and amendments thereto including Directive 2010/73/EU to the extent implemented in any relevant Member State) and includes any relevant implementing measure in the relevant Member State. In the United Kingdom this communication is only addressed to and is only directed at Qualified Investors who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the ""Order"") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies unincorporated associations etc.) (all such persons together being referred to as ""Relevant Persons""). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as ""anticipate"" ""believe"" ""continue"" ""estimate"" ""expect"" ""intends"" ""may"" ""should"" ""will"" and similar expressions. The forward-looking statements in this release are based upon various assumptions many of which are based in turn upon further assumptions. Although the Company believes that these assumptions were reasonable when made these assumptions are inherently subject to significant known and unknown risks uncertainties contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks uncertainties contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. This announcement is made by and and is the responsibility of the Company. Pareto Securities AS and ABG Sundal Collier (the ""Managers"") are acting exclusively for the Company and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for advice in relation to the contents of this announcement or any of the matters referred to herein. Neither the Managers nor any of their respective affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein. This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement. Each of the Company the Managers and their respective affiliates expressly disclaims any obligation or undertaking to update review or revise any statement contained in this announcement whether as a result of new information future developments or otherwise. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act."

DOF Subsea

DOF Subsea AS – Summons to bondholder meetings

June 25, 2019

DOF Subsea

Contract awards in Brazil

May 22, 2019

DOF Subsea

DOF Subsea Interim Financial Report Q1 2019

May 22, 2019

DOF Subsea

DOF Subsea is awarded key North Sea contracts and frame agreements

May 9, 2019

DOF Subsea

DOF Subsea Annual Report

March 22, 2019

Historical OSE Notices

DOF Subsea awarded multiple contracts across the North America Region

January 29, 2020

Historical OSE Notices

DOF Subsea awarded contracts Australia

January 22, 2020

Historical OSE Notices

DOF ASA: NOTIFICATION OF LARGE SHAREHOLDING

January 9, 2020

As previously announced, the DOF Group is negotiating with its banks and bondholders with a view to finding sustainable long-term financing structure that is aligned with the current market environment. The negotiations have been constructive, and good progress has been made. On Friday 20 December, the bondholders in each of DOFSUB07, DOFSUB08 and DOFSUB09 bond loans resolved to continue and extend the engagements on certain terms and conditions which are deemed beneficial by the bondholders, DOF Subsea AS and DOF ASA. Reference is made to a separate Press Release sent out on 20 December. The final approval of the terms now agreed will be given in a bondholders' meeting to be held medio January, 2020. Banks involved in the DOF Subsea AS refinancing process are showing good will to contribute to achieving a positive result. The refinancing proposal includes adjustments to the current amortization profile among others. The negotiations are still ongoing and a few of the banks, representing less than 10% of the outstanding loan balances, show reluctance, but will hopefully agree to a continued beneficial participation. DOF ASA is engaged in constructive dialogue with the banks in the DOF Rederi AS fleet facility, and together with DOF Subsea AS with major financing institutions in Brazil, in order to discuss adjustments to the current amortization profile, and thereby align, strengthen and support the financial operations throughout the DOF Group structure. The Board of Directors and the management believe that a solution is obtainable early 1[st] quarter., however no assurance can be given the DOF Group will be successful in this respect. All of the DOF group of companies will in the meantime relentlessly carry on their business without change. The market will be kept updated on further progress. 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, Canada, Angola, and Australia. DOF ASA is listed on the Oslo Exchange since 1997.

Historical OSE Notices

DOF ASA - REFINANCING UPDATE

December 23, 2019

Historical OSE Notices

Financial calendar

December 23, 2019

Historical OSE Notices

DOF Subsea AS: Withdrawal of summons to Bondholders' Meeting

December 20, 2019

As previously reported by DOF Subsea AS ("DOF Subsea" or the "Company"), DOF Subsea has approached banks, bondholders, and shareholders in a process to negotiate a long-term financing solution aligned with the current market. The proposal as outlined in the Summons to Bondholders' Meetings dated 5 December 2019 (the "Proposal") was approved by a necessary majority of Bondholders in all three bond issues, after the Company undertook not to implement the Proposal until certain changes which have been accepted by the Company have been approved by the bondholders in each of DOFSUB07, DOFSUB08 and DOFSUB09. These changes, once approved, will update and supersede the Proposal. The deferral of the NOK 100 million scheduled instalment that was due under DOFSUB07 today has become effective in accordance with the terms of the Summons. For the DOFSUB07 bond, the changes include a 5% PIK Interest and a call option at 100% of the nominal amount at any time (vs the Proposal with increasing call option prices). The DOFSUB07 bond shall be redeemed at 100% at maturity. For the DOFSUB08 bond the maturity date will be extended to January 2025 (vs August 2024 in the Proposal) and for the DOFSUB09 bond the maturity date will be extended to May 2025 (vs. December 2024 in the Proposal). Laco AS has also agreed to convert its indirect holding (through Møgster Mohn Offshore AS) of approx. NOK 60m in nominal value of DOFSUB 07 bonds into shares in DOF ASA, and the Company has agreed to cancel its treasury bonds. Further details of the changes are included in the attached schedule. These changes will be implemented through new bondholder meetings in DOFSUB07, DOFSUB08 and DOFSUB09. The Ad-Hoc group of bondholders in DOFSUB07 and major holders of DOFSUB08 and DOFSUB09 bonds have given their pre-approval to these changes, which will be formalized through follow-up bondholder meetings in January 2020. The Company engaged ABG Sundal Collier ASA and Pareto Securities AS as its financial advisors with respect to the Proposal. Accordingly, Bondholders may contact ABG Sundal Collier ASA at +47 22 01 61 66 or Pareto Securities AS Fixed Income Sales at +47 22 87 87 70 for further information. 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, Canada, Angola, and Australia. DOF ASA is listed on the Oslo Exchange since 1997.

Historical OSE Notices

DOF ASA AND DOF SUBSEA AS: RESULT OF BONDHOLDER MEETINGS IN DOF SUBSEA AS, REFINANCING UPDATE

December 20, 2019

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"). 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 68,750,000 to new shares in the Company. As a result, the share capital of the Company has today, 20 December 2019, been increased with NOK 6,875,000 by issuance of 6,875,000 new shares, each with a nominal value of NOK 1, at the conversion price of NOK 10.00 per share. Following the share capital increase, the Company's share capital is NOK 307,762,779, divided into 307,762,779 shares, each with a nominal value of NOK 1. The new shares will be registered on the respective bondholders' VPS accounts and be tradable on the Oslo Stock Exchange from and including 23 December 2019. Following the conversion, the new outstanding amount under the Subordinated Convertible Bond is NOK 86,933,885. 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, Canada, Angola, and Australia. DOF ASA is listed on the Oslo Exchange since 1997.

Historical OSE Notices