Ålesund, 4 June 2025
Golden Energy Offshore Services ASA (“GEOS” or the “Company”) is pleased to announce that it has today entered into a non-binding term sheet with a first-class financier for the possible refinancing of the GEOS group’s seven vessels through a facility of up to USD 95,000,000 (the “Term Sheet”).
The potential facility is on commercially desirable terms , allowing the GEOS group to build cash effectively. This positive financial outlook enables GEOS to actively pursue its stated objective of growth and shareholder value creation.
The aim is to complete the refinancing on or about the end of Q2 2025 to ensure that GEOS is financially well-equipped to take advantage of the ongoing market upturn.
As noted in the Q1 report, management and the board of directors strongly believe that a potential refinancing of the group’s fleet under the transaction envisioned by the Term Sheet will be a major step forward in strengthening GEOS’ position within the offshore industry. Additionally, the first-class financier, with its robust financial platform and in-depth knowledge of the maritime industry, is seen as the ideal partner for GEOS in this development, says CEO Per Ivar Fagervoll.
The transaction is subject to the parties entering into final transaction agreements (including the completion of customary KYC), and closing of the transaction will be subject to typical closing conditions for this type of financing.
About GEOS
GEOS ASA is an offshore service company based in Ålesund, Norway. The Company operates supply and service vessels to the offshore industry. The Company fleet is used within the Oil & Gas and Renewable Offshore industry. The Company is listed on Euronext Growth in Oslo Stock Exchange under the ticker “GEOS”. To learn more, please visit www.geoff.no/investors-geos.
Contact
For further information, please contact:
Per Ivar Fagervoll,
Chief Executive Officer
+47 97 42 88 84
pif@geoff.no