Axis Offshore Pte. Ltd ("Axis") has resolved to distribute
to its shareholders on a pro rata basis (the "Distribution")
its aggregate holding of shares and convertible bonds issued
by Prosafe SE ("Prosafe"), constituting in total 5,868,900
shares and nominal value NOK 403,092,000 of bonds in a
subordinated zero coupon convertible bond issued by Prosafe.
The Distribution is expected to be completed on or about 4
May 2017, following which Axis will hold no shares or rights
to shares in Prosafe.