DOF Subsea is pleased to announce multiple contract awards from undisclosed
clients across the North America region.
The Group has secured contracts for pre-lay and LBL array installation
activities in Guyana, subsea installation work in Trinidad and well-head removal
work in Canada. All three contract awards will utilise Skandi Neptune.
The Harvey Deep Sea has received an award for a large Ocean Bottom Node survey
in the GoM, in addition to other shorter IMR and light construction projects.
The awards will ensure good utilisation across the first half of the year for
the vessel.
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, Canada, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.
Historical OSE Notices
Contract awards
DOF Subsea awarded multiple contracts across the North America Region
January 29, 2020
DOF Subsea is pleased to announce several contract-awards in the APAC region,
securing further vessel and resource utilisation in Q1 and first part of Q2
2020.
The contracts, for undisclosed clients in Australia, will see Skandi Singapore
commence subsea project operations during Q1 2020 for two major operators in the
region over a period of 50-60 days.
In a statement Mons Aase, CEO of DOF Subsea, said, "These are important awards
for DOF Subsea and continue to build backlog from previous reported wins in Q1
2020, all of which secure good utilisation for our vessel and resources in the
Asia Pacific Region. We look forward to working with our key clients to deliver
safe and successful projects."
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, Canada, Angola, and Australia.
DOF ASA is listed on the Oslo Exchange since 1997.
Historical OSE Notices
Contract awards
DOF Subsea awarded contracts Australia
January 22, 2020
Following the recent conversions of the subordinated convertible bond loan of
DOF ASA to new shares in DOF ASA announced by DOF ASA on 20 December 2019, the
ownership percentage of Møgster Mohn Offshore AS ("MMO") in DOF ASA has been
diluted from 50.06% to 48.95%. The number of shares owned by MMO remains the
same (150,638,643 shares) and the downwards passing of the threshold for
notification of large shareholdings is hence a result of the mentioned
conversions of bonds to equity. MMO has no rights to shares.
MMO is majority owned by Laco AS, which is a related party to Helge Møgster,
Chairman of DOF ASA and to Board Member Marianne Møgster.
The above information is mandatory according to the Securities Trading Act
section 4-3.
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: 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
Financial calendar for DOF ASA
FINANCIAL YEAR 2019
21.02.2020 - Quarterly Report - Q4
FINANCIAL YEAR 2020
21.08.2020 - Half-yearly Report
06.04.2020 - Annual Report
28.05.2020 - Annual General Meeting
15.05.2020 - Quarterly Report - Q1
12.11.2020 - Quarterly Report - Q3
25.02.2021 - Quarterly Report - Q4
This information is published pursuant to the requirements set out in the
Continuing obligations.
Historical OSE Notices
Financial calendar
December 23, 2019
Please see enclosed notice from Nordic Trustee.
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 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
DOF ASA - New share capital
December 20, 2019
DOF is pleased to announce that Vår Energi has declared a 1 year option on
Skandi Kvitsøy. The extension is valid until February 2021.
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
Contract awards
Contract extension
December 20, 2019
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