DOF ASA will release the Q3 results on Wednesday 10th of November 2021. The
report will be available at www.dof.com and www.newsweb.no.
The presentation will be held as a webcast at 08:30 CET the same day on:
http://www.dof.com/webcast.
The presentation will be held by CEO Mons S. Aase and CFO Hilde Drønen.
If you have questions, please contact the Company.
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 3,800 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 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.
Historical OSE Notices
Invitation to presentation of Q3 2021 results
November 2, 2021
Reference is made to previous announcement on 30 September 2021 regarding the
extension of standstill arrangements with the group's secured lenders expiring
31 October 2021 and extension of standstill arrangements with bondholders in DOF
Subsea AS' bond issues also expiring 31 October 2021.
DOF ASA and DOF Subsea AS are pleased to announce that each of the companies
have agreed to further extend the principal and interest suspension agreements
with, or received extensions of similar concessions from, secured lenders
representing in total 91% of the secured debt of DOF ASA and DOF Rederi AS and
in total 95% of the secured debt of companies within the DOF Subsea AS group
(excluding DOF Subsea Brasil Servicos Ltda.) until 30 November 2021, and that
DOF Subsea AS has received confirmation from the ad hoc group of bondholders
that they have agreed to further extend the suspension, deferral and standstill
agreement currently in place for the bond issues to 30 November 2021 in
accordance with the resolutions of the bondholders' meeting held 30 September
2021.
The extensions of the standstill periods will facilitate the DOF group's
continued dialogue with its secured lenders and the bondholders under the DOF
group's bonds regarding a long-term financial restructuring of the DOF group.
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 3,800 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 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.
Historical OSE Notices
DOF ASA AND DOF SUBSEA AS: FURTHER EXTENSION OF STANDSTILL AGREEMENTS WITH SECURED LENDERS AND BONDHOLDERS
October 29, 2021
Reference is made to previous announcements regarding the extension of
standstill arrangements with the DOF group's secured lenders expiring 30
September 2021 and extension of standstill arrangements with bondholders in DOF
Subsea AS' bond issues also expiring 30 September 2021.
DOF ASA and DOF Subsea AS are pleased to announce that each of the companies
have agreed to extend the principal and interest suspension agreements with, or
received extensions of similar concessions from, secured lenders representing in
total 91% of the secured debt of DOF ASA and DOF Rederi AS and in total 95% of
the secured debt of companies within the DOF Subsea AS group excluding DOF
Subsea Brasil Servicos Ltda. until 31 October 2021.
Reference is further made to the previous announcement on 16 September 2021
regarding summons to bondholders' meetings in DOFSUB07 (ISIN NO0010971005),
DOFSUB08 (ISIN NO0010788177) and DOFSUB09 (ISIN NO0010836810) in which DOF
Subsea AS requested an extension of the standstill period for the three bonds
initially until 31 October 2021 and with the possibility to extend to 28
February 2022 with the approval of an ad-hoc committee of bondholders.
DOF Subsea AS is pleased to announce that the bondholders' meetings were held
today and the proposed resolution received 99.66%, 93.90% and 100.00% of the
votes in DOFSUB07, DOFSUB08, and DOFSUB09, respectively. Approval of the
proposal set out in the summons required 2/3 majority in all three bonds, and
the proposal was consequently approved. Please see the attached minutes from the
bondholders' meetings.
The extensions of the standstill periods will facilitate the DOF group's
continued dialogue with its secured lenders and the bondholders under the DOF
group's bonds regarding a long-term financial restructuring of the DOF group.
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 3,800 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 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.
Historical OSE Notices
DOF ASA AND DOF SUBSEA AS: EXTENSION OF STANDSTILL AGREEMENTS WITH SECURED LENDERS AND RESULT FROM BONDHOLDERS' MEETINGS
September 30, 2021
Reference is made to the resolutions adopted in the bondholders' meetings in DOF
Subsea AS' 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) on 30 June 2021, whereby the
bondholders on certain conditions approved to extend their waiver from, and
suspension of, all payment obligations under each of the bond loans until 31
August 2021, with a possibility to further extend the standstill arrangement
currently in place to 30 September 2021 with the approval of the ad-hoc
committee of bondholders.
Reference is further made to the announcement on 31 August 2021 regarding the ad
-hoc committee's approval of extension of the standstill arrangement with the
bondholders described above to 30 September 2021.
Discussions and negotiations on the restructuring of the DOF group (the "Group")
are progressing, and the Group, its secured lenders and the advisers to the
bondholders have since the bondholders' meetings in June 2021 continued
negotiations on an overall financial restructuring of the Group. Further
progress has been made in such negotiations, but there are still certain issues
that remain to be resolved to achieve an overall consensual restructuring of the
Group.
DOF Subsea AS has therefore requested Nordic Trustee AS to summon bondholders'
meetings in the three bond loans to consider the extension of the standstill
period initially until 31 October 2021 and with a possibility to extend the
standstill period on one or more occasions to 28 February 2022 with the approval
of an ad-hoc committee of bondholders. The proposal is further described in the
attached summons to the bondholders in the three bond loans. A request has also
been made to the Group's secured lenders to extend the suspension of payments of
principal and interest that have been granted by a majority of its secured
lenders.
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 3,800 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.
Historical OSE Notices
SUMMONS TO BONDHOLDERS' MEETINGS IN DOF SUBSEA AS - REQUEST TO FURTER EXTEND STANDSTILL PERIOD
September 16, 2021
DOF ASA's Brazilian subsidiary Norskan has been awarded a new long-term contract
and extended another one with Petrobras
Skandi Botafogo, (AHTS 180 t BP) has been awarded a 3-year contract with
Petrobras to operate as AHTS with startup in 4[th] quarter 2021 and 500 optional
days to be mutually agreed.
Skandi Amazonas, (AHTS 21,000) has been awarded a 1-year extension on a contract
with Petrobras until September 2022.
Mons S. Aase, CEO, DOF ASA said, "I am very pleased to announce these contract
awards which again confirm the DOF Group strong position in Brazil. With the
above contracts the total order intake in Brazil represent a value of approx.
NOK 2,15 billion so far in 3[rd] quarter.
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 3,800 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 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.
Historical OSE Notices
Contract awards
New contracts in Brazil
September 14, 2021
Further to the notifications made by minority shareholders in DOF ASA (the
"Company", and together with its subsidiaries the "Group") and the press
coverage relating to such group of shareholders, DOF ASA would like to reiterate
the information previously provided by the Company, that a robust long-term
financing solution is required for the Group to maintain its status as a going
concern. In the meantime the Group is dependent on continued standstill
agreements with its creditors. Based on the financial situation of the Group,
such solution is expected to require conversion of debt to equity, which
consequently will significantly dilute the current holders of the equity.
There are no market developments or changes of the outlook of the Group
justifying another conclusion, and the shareholders are urged to take this into
account when considering alternatives.
The restructuring solutions being discussed with the secured creditors of the
Group do not involve any element of new equity in the form of cash and no
inequal treatment of the shareholders of the Company is currently contemplated.
As previously informed, the dialogue with the lenders is complex, but
constructive. A refinancing solution is not yet in place, and no assurance can
at this stage be given that the Company will be able to find a solution with its
creditors.
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.
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 3,800 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 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.
Historical OSE Notices
DOF ASA: NOTIFICATIONS FROM MINORITY SHAREHOLDERS
September 8, 2021
DOF Subsea Rederi III AS, a wholly owned subsidiary of DOF Subsea AS, has
completed the sale of the CSV Skandi Neptune (built in 2001) to an international
buyer. The vessel will be delivered to the new owner in Q3 2022, after
completing its current commitments.
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 3,800 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 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.
Historical OSE Notices
Sale of vessel
September 6, 2021
DOF Subsea is pleased to inform that the diving support vessel Skandi Achiever
has been awarded a contract extension with Petrobras for ROV and diving services
until 4[th] quarter 2022.
As disclosed in the 2[nd] quarter Financial Report, DOF Subsea has entered into
a settlement agreement with a secured lender, subject to certain conditions. All
conditions related to the settlement agreement has now been fulfilled. As a
result of the above agreement, the share of the secured lenders in DOF Subsea
Group (excl. DOF Subsea Brasil Ltda.) supporting the suspension agreements has
increased from 88% to 95%.
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 3,800 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 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.
Historical OSE Notices
Contract awards
Contract award Skandi Achiever and restructuring update
September 2, 2021
Reference is made to previous announcement on 30 June 2021 regarding extension
of standstill arrangement with secured lenders expiring 31 August 2021 and
extension of standstill arrangement with bondholders in DOF Subsea AS' bond
issues also expiring 31 August 2021.
DOF ASA and DOF Subsea AS are pleased to announce that each of the companies
have agreed to further extend the principal and interest suspension agreements
with, or received extensions of similar concessions from, secured lenders
representing in total 91% of the secured debt of DOF ASA and DOF Rederi AS and
in total 88% of the secured debt of companies within the DOF Subsea AS group
(excluding DOF Subsea Brasil Servicos Ltda.) until 30 September 2021, and that
DOF Subsea AS has received confirmation from the ad hoc group of bondholders
that they have agreed to further extend the suspension, deferral and standstill
agreement currently in place for the bond issues to 30 September 2021.
The extensions of the standstill periods will facilitate the DOF group's
continued dialogue with its secured lenders and the bondholders under the DOF
group's bonds regarding a long-term financial restructuring of the DOF group.
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 3,800 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 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.
Historical OSE Notices
DOF ASA AND DOF SUBSEA AS: FURTHER EXTENSION OF STANDSTILL AGREEMENTS WITH SECURED LENDERS AND BONDHOLDERS
August 31, 2021
