Reference is made to
the announcement
dated 27 October
2015 regarding
agreement for
postponed delivery
of newbuilding
number 123.
In light of the
continuing
challenges in the
offshore market
internationally,
Havyard Ship
Technology AS and
the buyer have today
signed an agreement
for cancellation of
the shipbuilding
contract. The
agreement involves
payment of a
compensation to
Havyard.
Planned delivery of
the vessel was set
to Q2 2018, and will
therefore have no
affect for liquidity
and profits in
Havyard Ship
Technology AS for
the financial year
2016. The
cancellation will
however lead to a
lower activity and a
smaller margin loss
in Havyard Design &
Solutions AS for
2016.
For further
information,
please contact:
Geir Johan Bakke
CEO
+47 48 18 00 11
This information is
subject to the
disclosure
requirements
pursuant to section
5-12 of the
Norwegian Securities
Trading Act.