Prosafe Provides Update on the Scheme Documents

Source: www.gulfoilandgas.com 9/28/2021, Location: Europe

Reference is made to the earlier information provided about the ongoing financial process with the lenders, in particular the press release dated 18 August 2021 in relation to notice of the Scheme Meetings pursuant to Section 210(1) of the Singapore Companies Act, for the purpose of considering and, if thought fit, approving (with or without modifications) the Schemes proposed to be made between Prosafe SE ("PSE"), Prosafe Rigs Pte. Ltd. ("PRPL") and their respective Scheme Creditors.

This announcement is to notify you that certain amendments have been made to the Scheme Documents. The following documents can be downloaded from Clifford Chance Pte. Ltd.'s virtual data room, which can be accessed at this link for your information and to assist you in your consideration of the Scheme(s):
1. PSE Supplementary Explanatory Statement, appending the updated versions of the following:
a) PSE Scheme Document
b) Restructuring Implementation Deed

2. PRPL Supplementary Explanatory Statement, appending the updated versions of the following:
a) PRPL Scheme Document
b) Restructuring Implementation Deed
3. Comparisons of the updated documents against the previous circulation on 18 August 2021.

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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