DOF Sells Diving Support Vessel to GEO

The board of DOF ASA has entered into an agreement with the board of GEO ASA to sell a diving support vessel under construction from DOF to GEO.

The sale stems from the DOF board's desire to acquire all subsea activities in GEO. The ship is set to be delivered from the shipyard this summer and will then begin an eight-year contract with Technip. The value of the vessel and its contract have been assessed by Pareto and Enskilda at NOK 170 mill. DOF will receive approximately 3.1 million shares in GEO as payment.

The issue will be decided at an extraordinary general meeting of GEO shareholders.

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