Solstad Offshore ASA — Share Issue/Capital Change 2016

Sep 9, 2016

Key information relating to the conditional repair issue to be carried out by Solstad Offshore ASA directed towards eligible shareholders in REM Offshore ASA

Key information relating to the conditional repair issue to be carried out by Solstad Offshore ASA directed towards eligible shareholders in REM Offshore ASA

Date on which the terms and conditions of the repair

issue were announced: 9 September 2016

Last day including right: 10 October 2016

Ex-date: 11 October 2016

Record date: 12 October 2016

Date of approval: 10 October 2016

Maximum number of new shares: 1 600 000 class B shares

in Solstad Offshore ASA

Subscription price: 12,50

Other information (optional): Refers to conditional

repair issue for subscription of class B shares in

Solstad Offshore ASA directed towards shareholders in

REM Offshore ASA per 10 October 2016 which are not

invited to participate in the contemplated private

placements in REM Offshore ASA directed towards Åge

Remøy directly or indirectly, Vard Group AS and the

bondholders in REM04PRO and REM05. The application

period will run from 14 October until 27 October 2016.

Allocation rights issued to eligible shareholders will

not be transferable. The repair offering will be

conditional upon completion of the merger between REM

Offshore ASA and Solship Invest 1 AS, a company

controlled by Solstad Offshore ASA against issuance of

consideration shares in Solstad Offshore ASA.