Prosafe SE Provides Update on Financial Restructuring

Source: www.gulfoilandgas.com 8/25/2021, Location: Europe

Reference is made to the earlier information provided about the ongoing financial process with the lenders, the latest in a press release dated 18 August 2021 in relation to the Notice of Scheme Meetings.

Please take notice that Prosafe SE and Prosafe Rigs Pte Ltd ("PRPL") have today filed separate applications under section 64(7) of the Singapore Insolvency, Restructuring and Dissolution Act 2018 to extend the moratorium orders granted by the Singapore Court on 27 May 2021 for moratorium protection to be extended up to 31 January 2022 or such other date as the Singapore Court thinks fit (the "Moratorium Extension Applications").

Creditors who wish to receive a copy of the papers filed in the Moratorium Extension Applications should contact Prosafe SE's and PRPL's Singapore solicitors at Prosafe.Queries@CliffordChance.com.

Prosafe SE and PRPL will make the appropriate announcements as and when there are any further material developments on the financial process and the matters above. Please monitor Prosafe SE's website for any announcements or update on the process.


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