Prosafe Provides Update on Financial Restructuring

Source: www.gulfoilandgas.com 11/10/2021, Location: Europe

Reference is made to the earlier information provided about the ongoing financial process with the lenders, including the press release published on 8 November 2021.

Prosafe SE is pleased to announce that the Norwegian restructuring plan approved by the requisite majority of creditors on 8 November 2021, was today sanctioned by Oslo District Court.

This was an important milestone which will provide further certainty in the overall restructuring process and Prosafe SE wishes to thank all parties involved for their support of the restructuring plan and the Group during the restructuring process to date.

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

Prosafe continues to anticipate that the financial restructuring will be effective before or around year end 2021.


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