F-Shiplease AS, a wholly owned subsidiary of Ocean Yield, has two AHTS vessels built in 2013 on long-term bareboat charter to Farstad Supply AS, a subsidiary of Farstad Shipping ASA.
F-Shiplease AS has entered into a standstill agreement in anticipation of a financial restructuring of the Farstad Group. The standstill agreement is, under certain conditions, effective until the end of February 2017, and include a standstill in respect of bareboat hire payments for Far Senator and Far Statesman for the months of January and February 2017.
The standstill agreement is entered into concurrently with similar agreements with the secured lenders and certain other creditors of the Farstad Group.
Company contacts: Lars Solbakken, CEO of Ocean Yield ASA Phone: +47 24 13 01 90
Eirik Eide, CFO of Ocean Yield ASA Phone: +47 24 13 01 91
Investor Relations contact: Marius Magelie, SVP Finance & IR Phone: +47 24 13 01 82
This notice is issued pursuant to Section 5-12 of the Norwegian Securities Trading Act