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    SOFF   NO0003080608

SOLSTAD OFFSHORE ASA

(SOFF)
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Solstad Offshore : Exercise of warrants, conversion of convertible loan

08/30/2021 | 09:53am EDT
Reference is made to the stock exchange notice by Solstad Offshore ASA (the
"Company") dated 3 August 2021 regarding the sale of the vessel "Normand
Progress" (the "Vessel"). Further reference is made to the warrants issued to
certain banks by decision of the Company's general meeting held on 20 October
2020 giving such banks (as well as other banks) the right to receive new shares
in the Company as compensation for any part of their claim against SOFF related
to certain vessels (including the Vessel) not covered by the proceeds from the
sale of such vessels (the "Warrants"). Reference is also made to the Company's
stock exchange notice of 20 October 2020 regarding the issuance of a convertible
loan to Aker Capital AS, Hemen Holding Limited and Jarsteinen AS as an anti
-dilution measure following completion of i.a. the exercise of warrants as set
out above.

Following completion of the sale of the Vessel, 111,649 new shares have been
issued today as a result of exercise of Warrants, while 54,486 new shares have
been issued following partial conversion of the convertible loan, in total
166,135 new shares.

As a result, the Company's share capital is now NOK 75,289,941 consisting of
75,289,941 shares, each with a par value of NOK 1.

Skudeneshavn, 30 August 2021

Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Kjetil Ramstad CFO, at +47 90 75 94 89

Solstad Offshore ASA
www.solstad.com

This information is subject of the disclosure requirements pursuant to section
4.2.4 of Rule Book II for companies listed on Euronext Oslo Børs.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2020 4 844 M 576 M 576 M
Net income 2020 7 241 M 860 M 860 M
Net Debt 2020 18 208 M 2 164 M 2 164 M
P/E ratio 2020 0,10x
Yield 2020 -
Capitalization 415 M 49,3 M 49,3 M
EV / Sales 2019 6,23x
EV / Sales 2020 3,91x
Nbr of Employees 3 528
Free-Float 26,7%
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Managers and Directors
Lars Peder Solstad Chief Executive Officer
Kjetil Ramstad Chief Financial Officer
Harald Espedal Chairman
Tor Johan Tveit Chief Operating Officer
Olaug Hillesland Director-Administration & Communication
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