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    SOFF   NO0003080608

SOLSTAD OFFSHORE ASA

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

10/08/2021 | 02:44am EST
Reference is made to the stock exchange notice by Solstad Offshore ASA (the
"Company") dated September 9th, 2021 regarding the sale of the vessel "Sea
Ocelot" (the "Vessel"). Further reference is made to the warrants issued to
certain banks by decision of the Company's general meeting held on October
20th, 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 October 20th, 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, 27,555 new shares have been
issued as a result of partial exercise of Warrants, while 13,447 new shares have
been issued following partial conversion of the convertible loan, in total
41,002 new shares. There are still some outstanding Warrants related to the
Vessel which may be converted to shares later, subject to further discussions
with the involved parties.

As a result, the Company's share capital is now NOK 75,330,943 consisting of
75,330,943 shares, each with a par value of NOK 1.

Skudeneshavn, October 8th, 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 534 M 534 M
Net income 2020 7 241 M 798 M 798 M
Net Debt 2020 18 208 M 2 006 M 2 006 M
P/E ratio 2020 0,10x
Yield 2020 -
Capitalization 381 M 41,9 M 42,0 M
EV / Sales 2019 6,23x
EV / Sales 2020 3,91x
Nbr of Employees 3 600
Free-Float 29,4%
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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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