Increase of Share Capital by Conversion of Debt

Reference is made to the extraordinary general meeting of Oceanteam ASA ("Oceanteam" or "Company") held on 13 April 2018 in which, among others, a proxy has been granted to the board of directors to increase the share capital of the Company by conversion of debt. Oceanteam herewith announces that the board of directors has resolved to increase the share capital from NOK 325,164,479.50 to NOK 350,164,479.50 by issuing 50,000,000 new shares with a nominal value of NOK 0.50 per share, at a subscription price of 0.50 per share. The total number of Company’s shares is 700 328 959. Corinvest B.V. has subscribed for 40,000,000 shares and Feastwood Holding Limited has subscribed for 10,000,000 shares.
 
The share capital increase will be registered in the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret) as soon as possible.


About Oceanteam ASA
The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water offshore support vessels and fast support vessels. Oceanteam Solutions' focus is to provide its clients with complete offshore solutions. Oceanteam ASA has been active in the industry as an offshore solutions provider for over twelve years.

For more information: www.oceanteam.no

For further information about Oceanteam ASA please contact:

CEO (Interim) Meindert van Genderen: +31 20 53 57 570 meindert@oceanteam.nl
CFO Jos van Dijk: +31 20 53 57 570 jos@oceanteam.nl