Press release
On 9 June 2016, Viking Supply Ships AB's subsidiary Viking Supply Ships A/S
("VSS A/S") was informed that Norseman Offshore AS has filed an application for
bankruptcy against VSS A/S with the Maritime and Commercial High Court in
Copenhagen. The company has not yet been officially notified of the petition by
the Court. Norseman Offshore AS is the owner of the vessel Odin Viking which is
on a bareboat charter with VSS A/S. The petition for bankruptcy is made on the
basis of unpaid hire in an aggregate amount of approximately USD 2.5 million.
The parties have been in discussions for several months as part of the overall
financial restructuring of the group. VSS A/S is of the view that there is no
basis for the petition and will vigorously defend itself against it. VSS A/S
will continue to pursue the process to achieve a restructuring of its debts as
further described in the annual report for 2015.
The Q1 financial report which was scheduled for release today 08:30 will in
light of the recent development be published later during today. The investor
call scheduled for today 10:00 will be re-scheduled to Monday 13 June 10:00.
For further information please contact:
Christian W. Berg, CEO, ph. +45 41 77 83 80, e-mail
christian.berg@vikingsupply.com
Morten G. Aggvin, IR & Treasury Director, ph. +47 41 04 71 25, e-mail
ir@vikingsupply.com
Viking Supply Ships AB (publ) is a Swedish company with headquarter in
Gothenburg, Sweden. Viking Supply Ships A/S is a subsidiary of Viking Supply
Ships AB (publ). In addition Viking Supply Ships AB (publ) has the subsidiary
TransAtlantic AB. The operations are focused on offshore and icebreaking
primarily in Arctic and subarctic areas as well as on Shipping services mainly
between the Baltic Sea and the Continent. The company has in total about 500
employees and the turnover in 2015 was MSEK 1,977. The company’s B-shares are
listed on the NASDAQ Stockholm, Small Cap segment. For further information,
please visit: www.vikingsupply.com
Viking Supply Ships AB is obliged to make this information public according to
the Financial Markets Act and/or the Financial Instruments Trading Act (Sw:
lagen om värdepappersmarknaden and lagen om handel med finansiella instrument).
The information was submitted for publication on 10 June 2016 at 08:30.
Update on financial situation in Viking Supply Ships AB
| Source: Viking Supply Ships AB