Solstad Offshore ASA — M&A Activity 2017

Apr 25, 2017

Update on the merger process

Update on the merger process

Skudeneshavn, Ålesund and Limassol, 25 April, 2017

Reference is made to the detailed stock exchange

announcement on 24 March 2017 regarding the merger plans

(the "Merger Plans") signed by Solstad Offshore ASA

("Solstad Offshore" or the "Company"), Farstad Shipping ASA

("Farstad"), Deep Sea Supply Plc ("DESSC") and Solstad

Offshore's relevant subsidiaries to merge the businesses of

Solstad Offshore, Farstad and DESSC with Solstad Offshore's

relevant subsidiaries as the surviving entities

(the "Mergers").

We also refer to stock exchange announcements from Solstad

Offshore, Farstad and DESSC confirming that the

extraordinary general meetings in Solstad Offshore, Farstad,

DESSC, Solship Invest 2 AS, Solship Invest 3 AS and Solship

Sub AS today approved the relevant parts of the Merger

Plans.

The Merger decisions will be filed with the Norwegian

Register of Business Enterprises today and will also be

filed with the relevant authorities on Cyprus.

Furthermore, the relevant parties have today received

confirmation from the Norwegian Competition Authority

confirming that the matter has been closed, meaning that the

Mergers have been cleared. The relevant parties have

previously received clearance from the competition

authorities in Brazil, and the Mergers are therefore now

cleared by the relevant competition authorities.

It is expected that the Mergers will become effective on or

about 9 June 2017 with delivery of consideration shares to

the shareholders of Farstad and DESSC in VPS on or about 14

June 2017.

For further information, please contact:

Lars Peder Solstad, Chief Executive Officer of Solstad

Offshore ASA at +47 913 18 585 or Sven Stakkestad, Deputy

Chief Executive Officer of Solstad Offshore ASA at +47 905

15 802.

Karl-Johan Bakken, Chief Executive Officer of Farstad

Shipping ASA at +47 901 05 697 or Olav Haugland, Chief

Financial Officer of Farstad Shipping ASA at +47 915 41 809

Anders Hall Jomaas, Chief Financial Officer of Deep Sea

Supply Plc at +47 400 42 918.

This information is subject of the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading

Act.