Magnora ASA

AGM Information • May 21, 2015

SEVAN MARINE ASA: Minutes from Annual General Meeting

SEVAN MARINE ASA: Minutes from Annual General Meeting

Sevan Marine ASA has today on May 21, 2015, held its

Annual General Meeting. All the proposals from the

Board of Directors to the General Meeting were

approved. Attached to this announcement are the

minutes of the Annual General Meeting in Norwegian

and translation into English.

THE BOARD OF DIRECTORS

The shareholder-elected members to the Board of

Directors, elected by the General Meeting for a

period of one year, are:

Siri Hatlen (Chairperson, re-elected)

Jørgen P. Rasmussen (Deputy Chairperson, re-elected)

Mari Thjømøe (Director, re-elected)

Ingvild Sæther (Director, re -elected)

Peter Lytzen (Director, re-elected)

Kjetil Sjursen (Director, newly elected)

The new director, Kjetil Sjursen, holds a Master

degree from the Norwegian School of Economics (NHH)

and has extensive experience in financial consulting

as well as knowledge of the oil & gas capital

markets after more than 17 years in Pareto

Securities. Today, Mr. Sjursen operates a private

investment and consultancy business.

***

The information in this announcement is subject to

the disclosure requirements of the Norwegian

Securities Trading Act section 5-12 and/or the Oslo

Børs - Continuing Obligations.

Sevan Marine ASA is specializing in design,

engineering and project execution of floating units

for offshore applications, based on its patented

cylindrical floater technology. Sevan Marine ASA is

listed on Oslo Børs with ticker SEVAN. For more

information, please refer to www.sevanmarine.com.

For more information please contact:

Marit Ytreeide, Press Contact (Media)

+47 901 28 308 mobile

Carl Lieungh, CEO, Sevan Marine ASA (Media)

+47 37 40 40 00 office

Reese McNeel, CFO, Sevan Marine ASA (Analysts)

+47 37 40 40 00 office