Reference is made to the stock exchange communication of Solstad Offshore ASA
(the "Company") of March 31[st], 2020 in which it was announced that the Company
and a large majority of its stakeholders had established a common plan to
finalise the negotiations for the restructuring of the Company on the basis of a
restructuring outline (as described in the communication, the "Restructuring
Outline").
Since March 31[st], 2020 the Company and a majority of its stakeholders have
progressed notably in finalising documentation for a binding restructuring in
accordance with the Restructuring Outline. However, some additional time will be
required to conclude an agreement among all required stakeholders. In continued
support of the restructuring process, and with a view to enter into a
restructuring agreement within a week, the suspension periods referred to in the
stock exchange communication of March 31[st], 2020 have been extended by all but
one of the relevant creditors throughout May 8[th], 2020.
Skudeneshavn, April 30[th], 2020
Contacts
Lars Peder Solstad CEO, at +47 91 31 85 85
Anders Hall Jomaas CFO, at +47 40 04 29 18
Solstad Offshore ASA
www.solstad.com
This information is subject of the disclosure requirements according to the
Norwegian Securities Trading Act ยง 5-12.