The board of directors of DOF ASA has 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 Salomonsen will 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
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 ASA and (ii) is expressed that the financial creditors
thereby, and in order to preserve the interests of the DOF Group's employees,
suppliers and customers, are prepared to contribute to the preservation of the
DOF Group's value 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 billion is 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 ASA
at 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 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
Offshore Energy, Marine Telecommunications and Renewables markets.

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© Oslo Bors ASA, source Oslo Stock Exchange

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