Reference is made to the stock exchange announcements made on 27 June 2016 and 18 July 2016 by Rem Offshore ASA (the " Company ").
In a bondholder meeting on 18 July 2016, Bondholders controlling more than 1/3 of the Bonds in the Company's REM04PRO Bond Issue rejected the terms of the proposed refinancing. The Company has noted speculation in the media regarding the identity of the bondholders in REM04PRO. The Company has been made aware during the negotiations that Aker Capital AS (" Aker ") holds a sufficient number of bonds in REM04PRO to block the proposed restructuring. The Company has subsequently been informed that Aker did not vote to support the restructuring.
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For more information, please contact:
Åge Remøy (chairman), +47 70081164 / +47 90591292
Arild Myrvoll (CEO), +47 70080894 / +47 90014188
Ola Beinnes Fosse (CFO) +47 70081160 / +47 97531227