Company update

Reference is made to the stock exchange announcement of 1 April 2020. The Company has today agreed with the secured lenders in Norway and Europe to extend the current standstill agreement until 29 May 2020. The Company and the lenders have, conditional on credit committee approvals, reached principal agreement on the terms of a long-term standstill with an aim to agree a comprehensive plan to take the Company through the prolonged downturn. The discussions with the banks are positive and we expect to execute a final agreement shortly.

Published 18-05-2020 in the Investor category