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    DOF   NO0010070063

DOF ASA

(DOF)
  Report
Real-time Oslo Bors  -  10:25 2022-10-06 am EDT
1.140 NOK   -1.21%
10/03Contract extension - DOF Rederi
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09/30Dof Asa And Dof Subsea As : Result from bondholders' meetings - further extension of standstill period
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09/30DOF Surges 26% on Securing $80 Million Worth of New Contracts
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DOF ASA AND DOF SUBSEA AS: FURTHER EXTENSION OF STANDSTILL AGREEMENTS WITH SECURED LENDERS AND RESULT FROM BONDHOLDERS' MEETINGS

05/31/2022 | 02:10pm EDT

Reference is made to previous announcements regarding the extension of standstill arrangements with the DOF group's secured lenders expiring 31 May 2022 and extension of standstill arrangements with bondholders in DOF Subsea AS' bond issues also expiring 31 May 2022.

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 15 June 2022, 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 15 June 2022 in accordance with the resolutions of the bondholders' meeting held 29 April 2022.

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.

 

https://news.cision.com/dof-asa/r/dof-asa-and-dof-subsea-as--further-extension-of-standstill-agreements-with-secured-lenders-and-resul,c3577710

https://mb.cision.com/Main/1611/3577710/1587094.pdf

(c) 2022 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2022 5 800 M 544 M 544 M
Net income 2022 -125 M -11,7 M -11,7 M
Net Debt 2022 16 836 M 1 581 M 1 581 M
P/E ratio 2022 -2,68x
Yield 2022 -
Capitalization 361 M 33,9 M 33,9 M
EV / Sales 2022 2,97x
EV / Sales 2023
Nbr of Employees 3 904
Free-Float 53,5%
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Mean consensus BUY
Number of Analysts 0
Last Close Price 1,14
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Spread / Average Target -
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Managers and Directors
Mons Svendal Aase Chief Executive Officer
Hilde Drønen Chief Financial Officer
Hans Olav Lindal Chairman
Sigbjørn Stangeland Chief Operating Officer-Marine
Helge Singelstad Deputy Chairman
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