DOF ASA: REQUEST FOR NEW EXTRAORDINARY GENERAL MEETING AND NEW LETTER FROM FINANCIAL CREDITORS
The board of directors of
DOF ASAhas pursuant to section 5-7(2) of the Norwegian Public Limited Companies Act received a request for an extraordinary general meeting ("EGM") to be held to consider a proposal to elect a new board of directors in the company. The request has been submitted on behalf of Bjarte Brønmo and Sans Invest AS holding more than 5% of the share capital. It has been informed that Leif Salomonsenwill be proposed as new chair of the board and that the other candidates will be presented prior to the general meeting. The board of directors will convene an EGM to be held no later than 14 December 2022. We also attach a new letter received from the financial creditors of the DOF Group, in which it (i) once again is reiterated by the financial creditors that there is no room for further negotiations, (ii) is confirmed that the financial creditors stand by their statement that they, if necessary, will contribute to implementation of the restructuring through a forced reconstruction and/or bankruptcy in DOF ASAand (ii) is expressed that the financial creditors thereby, and in order to preserve the interests of the DOF Group'semployees, suppliers and customers, are prepared to contribute to the preservation of the DOF Group'svalue as a going concern irrespective of the contribution of the shareholders. Further to this, the financial creditors have made it clear that there are no other available alternatives than the negotiated restructuring solution unless the overdue debt of approximately NOK 23 billionis settled. In the same letter it is further emphasized that any action that would be contrary to the interest of the DOF group and the stakeholders of DOF ASA(multitude of the shareholders, creditors etc.) will expose the board of directors in DOF ASAat any given time to personal liability. For further information, please contact: CEO Mons Aase, tel. +47 91 66 10 12 CFO Martin Lundberg, tel. +47 91 62 10 57 This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. About DOF Subsea: The DOF Subsea Groupis 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 Offshore Energy, Marine Telecommunications and Renewables markets. www.dofsubsea.com
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© Oslo Bors ASA, source
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