Solstad Offshore ASA — Share Issue/Capital Change 2016

Sep 20, 2016

Key information relating to subsequent repair issue in Solstad Offshore ASA directed towards eligible shareholders in Solstad Offshore ASA

Key information relating to subsequent repair issue in Solstad Offshore ASA directed towards eligible shareholders in Solstad Offshore ASA

Reference is made to stock exchange release 22 June

2016 with key information relating to the contemplated

subsequent repair issue in the Company ("SOFF

Subsequent Private Placement") directed towards

eligible shareholders not participating in the private

placement resolved by the Company's extraordinary

general meeting on 13 July 2016. Reference is also

made to separate announcement regarding ex

subscription rights made on 14 July 2016.

There are no changes to the key information as

announced on 22 June 2016. The key information

relating to the SOFF Subsequent Private Placement

therefore remains as follows:

Date on which the terms of the SOFF Subsequent Private

Placement were announced: 22 June 2016

Last day including right to receive allocation rights:

13 July 2016

First day excluding right to receive allocation rights:

14 July 2016

Record date:

15 July 2016

Date of approval:

13 July 2016

Maximum number of new shares:

3 188 811

Subscription price:

NOK 12.50

As announced by the Company on 9 September 2016, the

tentative timeline for the SOFF Subsequent Private

Placement is as follows:

Start application period:

14 October 2016

End application period:

27 October 2016

Allocation:

28 October 2016

Allocation letters distributed:

On or about 28 October 2016

Payment date:

1 November 2016

Registration of share capital increase and delivery of

shares:

3 November 2016

Listing and first day of trading:

3 November 2016

Allocation rights issued to eligible shareholders will

not be transferable. The Company will issue 0.155089

non-tradable allocation rights per 1 (one) share held

in the Company on the Record Date, i.e. 15 July 2016.

For further details, please refer to the prospectus

prepared by the Company, approved by the Norwegian

Financial Supervisory Authority on 9 September, cf.

stock exchange release of the same date.

Skudeneshavn, 20 September 2016, Solstad Offshore ASA

Contact person: Eivind Kvilhaug (Tel: +47 52 85 65 00)

This information is subject to the disclosure

requirements pursuant to section 5-12 of the Norwegian

Securities Trading Act.