Nyheter for Mosvold Supply Plc.

MOSU: Report 3rd Quarter 2011

Company news

2011-11-11 10:32:13

Please find attached the 3rd Quarter 2011 Report for Mosvold Supply Plc.

For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU- Offer to acquire shares and convertible bonds

Company news

2011-11-09 10:26:11

Reference is made to the notification regarding the offer from Mosvold Shipping Holding to acquire shares and convertible bonds in Mosvold Supply Plc. ("MOSU") issued on 3rd October 2011.

In total, shareholders holding 1,061,900 shares accepted the offer. The finalization and settlement of shares under the offer is expected to take place on or about 14th November 2011. Following the settlement of this offer, Mosvold Shipping Holding Limited will hold 69.06% of the shares in MOSU.

MOSU- Offer to acquire shares and convertible bonds

Company news

2011-10-03 14:01:12

Reference is made to the notification regarding conversion of bonds made by Mosvold Supply Plc. (the "Company") on 12th September 2011. The shares related to the conversion were issued on 23rd September 2011, following which Mosvold Shipping Holding Limited holds 68.09% of the shares in the Company. Mosvold Shipping Holding Limited has today made an offer to acquire shares and convertible bonds in the Company in accordance with the Articles of Association of the Company. The offer price is USD 0.167 per share, and the offer is valid until 31st October 2011. The finalization and settlement of shares under the offer is expected to take place on or about 14th November 2011.

Mosvold Shipping Holding Limited will consider purchasing shares in the market at prices below the offer price as from today. Any such purchases will be reported to the market.

MOSU - Conversion of Bonds

Company news

2011-09-12 15:40:17

Reference is made to the notification regarding exercise of Call Options made by Mosvold Supply Plc. (the "Company") on 26th August 2011. The exercise period ended on 9th September 2011. For the April 2010 Convertible Loan, Bondholders holding bonds amounting to USD 5,771,510 have exercised their Conversion Right at USD 0.167 per share. For the June 2010 Convertible Loan, Bondholders holding bonds amounting to USD 8,084,310 have exercised their Conversion Right at USD 0.167 per share.

The Company will issue 82,968,973 new shares increasing shares in issue from 26,500,000 shares to 109,468,973 shares.

Mosvold Shipping Holding Limited will after the issue of the new shares increase its shareholding in the Company with approximately 44.67 per cent from 23.42 per cent to 68.09% per cent.

As a consequence, Mosvold Shipping Holding Limited shall make an offer to acquire shares in the Company in accordance with the Articles of Association of the Company at an Offer Price of USD 0.167 per share. Further information related to this offer will be sent to the Shareholders in accordance with the provisions of the Articles of Association for the Company.

For further information contact Marianne Andreassen Bekkevold, mob +47 9716 7292 or Torstein Bringa, mob +47 4813 7090.

MOSU- exercise of Conversion Right by Mosvold Shipping Holding Limited

Company news

2011-09-06 13:54:12

Reference is made to the notification regarding the exercise of the Call Options made by Mosvold Supply Plc. (the "Company") on 26th August 2011. The Company has been advised by Mosvold Shipping Holding Limited, currently holding 23.42% of the shares in the Company, of its intention to convert all, or a significant part of, its bonds into shares in the Company.

Mosvold Shipping Holding Limited currently holds bonds amounting to USD 11,410,820 in the Company.

Mosvold Shipping Holding Limited has notified the Company of its intention to convert a number of bonds that will result in its shareholding exceeding 30% of the shares in the Company. As a consequence, Mosvold Shipping Holding Limited will make an offer to acquire shares in the Company in accordance with the Articles of Association of the Company at an Offer Price of USD 0.167 per share.

For further information contact Marianne Andreassen Bekkevold, mob +47 9716 7292 or Torstein Bringa, mob +47 4813 7090.

MOSU - Bonds, exercise of Call Options

Company news

2011-08-26 13:48:01

Mosvold Supply Plc. (the "Company") are financed, inter alia, by two convertible bonds, namely a convertible bond of USD 7.9 Million (following prepayment of USD 2.4 Million in Q3 2010 and prepayment of USD 0.7 Million in Q2 and Q3 2011), with 10% coupon and April 2012 maturity and a convertible bond of USD 11 million with 14% coupon and June 2012 maturity.

The Company today issued notice to the respective bondholders that it will exercise its Call Option pursuant to the above bond agreements.

The bonds will be redeemed at a redemption price of 115% of par value plus accrued interest on the redeemed amount.

The bondholders have as an alternative to redeem the bonds as above, the right to convert the bonds to shares in the Company, at a rate of 100% of par and a Conversion Price of USD 0.167 per share. If the Bondholders convert their bonds into shares, accrued interest on the bonds will accrue to the Issuer.

Such right must be exercised no later than end of business day, 9th September 2011.

For further information contact Marianne Andreassen Bekkevold, office phone +47 3804 1346 or Torstein Bringa, mob +47 4813 7090.

MOSU: Report 2nd Quarter 2011

Company news

2011-08-23 10:22:43

Please find attached the 2nd Quarter 2011 Report for Mosvold Supply Plc.

For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU - Cancellation of Hull No. 7049 - Refund guarantee

Company news

2011-08-10 15:45:33

Mosvold Supply III Limited (the "Company"), a wholly owned subsidiary of Mosvold Supply Plc., on 25th July 2011 cancelled the contract for its AHTS (VS 491 CD) vessel (the yard's Hull No: 7049) being built at Otto Offshore Limited's ("Otto's") yard at Batam, Indonesia.
The Company is according to the shipbuilding contract is entitled to a refund of instalments paid including interest and made a demand thereon to Otto.
Full payment as demanded under the refund guarantees of approximately USD 10.9 Million and EUR 12.2 has been received from Standard Chartered Bank, Otto's guarantee bank. These amounts include approximately USD 1 Million and EUR 1.3 respectively, in compounded interest.

The refund will be applied to repay the April 2010 Convertible Bond of USD 11 Million and the June 2010 Convertible Bond of USD 11 Million, subject to Bondholders option to convert their bonds to shares in Mosvold Supply Plc.

For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU Notice of arbitration hull no 7049

Company news

2011-08-08 08:48:28

Mosvold Supply Plc's wholly owned subsidiary, Mosvold Supply III Ltd (the "Company"), in mid 2007 contracted from Otto Offshore Limited ("Otto Offshore"), a wholly owned subsidiary of Otto Marine Limited, a company incorporated in Singapore, to construct a large anchor handling vessel (the "Vessel").

The Vessel's (the yard's hull no 7049) Contractual Delivery Date is end December 2010. The Company's right to cancel the contract and claim refund under the refund guarantee accrues, if the Vessel is not validly tendered within a period of 180 days (excluding provision for net delay caused by permissible delays), after contractual Delivery Date.

The Company having taken legal advice does not believe that there has been any permissible delays and that no net delay exists under the contract.

Otto Offshore advises that it has filed a notice of arbitration with Singapore International Arbitration Centre ("SIAC"), seeking a declaration that the Delivery Date be postponed, adjusted, open ended or alternatively at large.

The Company on legal advice regards the claim completely unjustified and without merit and will oppose such declaration.

For further information contact CEO Torstein Bringa, mob +47 4813 7090

MOSU - Cancellation of Hull No. 7049

Company news

2011-07-25 13:38:27

Mosvold Supply Plc, in 2007 contracted Otto Offshore Ltd, a wholly owned subsidiary of Otto Marine Limited, to build a series of four AHTS (VS 491 CD) vessels. Mosvold Supply Plc shortly thereafter transferred these contracts one each to four single purpose wholly owned subsidiaries.

Mosvold Supply III Limited (the "Company"), one of these wholly owned subsidiaries, today cancelled hull no 7049, the third vessel in the series.

Mosvold Supply I Limited and Mosvold Supply II Limited, two of the other wholly owned subsidiaries of Mosvold Supply Plc., on 18th May 2010 and 30th May 2011 respectively, cancelled the first and second of the four vessels in the same series, and subsequently received full refund of instalments paid including interest by calling on the refund guarantees from the guaranteeing bank, Otto Marine Ltd. having failed to make repayment on demand.

The Company is according to the shipbuilding contract entitled to a refund of instalments paid including interest, and has today made a demand thereon to Otto Offshore Ltd.


For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU - Annual General Meeting 28 June 2011

Company news

2011-06-28 11:28:24

The Annual General Meeting of Mosvold Supply Plc. took place in Nicosia, Cyprus on the 28th of June 2011 to consider the Annual Report of the Company for 2010.

The Annual Report as presented was unanimously approved.

MOSU: Report 1st Quarter 2011

Company news

2011-06-14 10:26:09

Please find attached the 1st Quarter 2011 Report for Mosvold Supply Plc.

For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU - Repayment of Bonds

Company news

2011-06-10 13:49:14

Mosvold Supply II Limited (the "Company"), one of four wholly owned subsidiaries of Mosvold Supply Plc., (altogether the "Group"), on 30th May 2011 cancelled its AHTS (VS 491 CD) vessel (Hull No: 7048) being built at Otto Marine Limited's yard at Batam, Indonesia (the "Yard")

Full payment as demanded under the refund guarantees of approximately USD 25.9 Million has been received. This amount includes approximately USD 2.7 Million in compounded interest.

The Company's costs incidental to the injunction, by order of the Singaporean court, are to be paid by Otto Offshore Ltd.

According to financing agreements the Company is obliged to repay with interest in order of sequence (i) the short term loan of USD 5 Million to Mosvold Shipping Holding Limited, the Company's largest shareholder and (ii) the remaining balance of NOK 92.5 Million of the Senior Secured Bond of initially NOK 185.0 Million. Moreover, as a consequence of the cancellation and receipt of funds under the refund guarantees, the bondholders in the April 2010 Convertible Bond have the option to redeem bonds in the amount of up to USD 5.5 Million of the remaining balance of USD 8.6 Million.

Mosvold Shipping Holding Limited, holding initially approximately 42 per cent of the April 2010 Convertible Bond, has advised the Company that it will not exercise its option of repayment. Further, it has advised that the amounts outstanding under the short term loan will be repaid, and that the short term loan facility will be made available for further drawings by the Company on terms previously agreed.

With this facility, and provided no unforeseen circumstances occur, the Group is fully financed until contractual delivery of the remaining vessels (Hulls 7049 and 7050) from the Yard.

For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU - Notice of Annual General Meeting for 28th June 2011

Company news

2011-06-03 13:40:04

Please find attached The Board of Directors Notice of the Annual General Meeting and the Annual report for 2010.

The Meeting is called for 28th June 2011 at 11.20 Hours and will be held at the office of Montanios & Montanios, Diagoras House, 16 P. Catelaris street, Nicosia, Cyprus

MOSU - Cancellation of Hull No. 7048

Company news

2011-05-30 10:46:08

Mosvold Supply Plc., in 2007 contracted Otto Offshore Ltd, a wholly owned subsidiary of Otto Marine Limited, to build a series of four AHTS (VS 491 CD) vessels. Mosvold Supply Plc shortly thereafter transferred these contracts one each to four single purpose wholly owned subsidiaries.

Mosvold Supply II Limited (the "Company"), one of these wholly owned subsidiaries today cancelled hull no 7048, the second vessel in the series.

Mosvold Supply I Limited, another wholly owned subsidiary of Mosvold Supply Plc., on 18th May 2010 cancelled the first of the four vessels in the same series, and subsequently received full refund of instalments paid including interest by calling on the refund guarantees from the guaranteeing bank, Otto Marine Ltd having failed to make repayment on demand.

The Company is according to the shipbuilding contract entitled to a refund of instalments paid including interest, and has today made a demand thereon to Otto Offshore Ltd.


For further information contact CEO Torstein Bringa, mob +47 4813 7090.

Court refuses Otto Offshore injunction against MOSU

Company news

2011-05-25 05:54:52

Mosvold Supply Plc's wholly owned subsidiary, Mosvold Supply II Ltd (the "Company"), in mid 2007 contracted with Otto Offshore Limited ("Otto Offshore"), a wholly owned subsidiary of Otto Marine Limited, a company incorporated in Singapore, whereby Otto Offshore would construct a large anchor handling vessel (the "Vessel").

The Vessel with yard's hull no 7048 had a Contractual Delivery Date of end June 2010. The Company's right to cancel the contract and claim refund under the refund guarantee contractually accrues if the Vessel is not validly tendered within a period of 180 days (excluding provision for net delay caused by permissible delays), after contractual Delivery Date.

The Company having taken legal advice does not believe that there has been any permissible delays and that no net delay exists under the contract.

Otto Offshore in December 2010, filed a notice of arbitration, seeking a declaration that the Contractual Delivery Date was postponed, adjusted, open ended or alternatively at large. If correct this would delay the accrual of the Company's right to cancel to a date after December 2010.

The Company on legal advice regards the claim completely unjustified and without merit and is opposing such declaration.

On 24 December 2010 Otto Offshore also applied to the Singaporean court for an injunction, on an ex Parte basis, to prevent the Company from making demand for receiving payment under the on-demand refund guarantees, should the Company cancel the contract, prior to a final ruling in the arbitration proceedings.

On 24 May 2011, the Singaporean court refused to grant Otto Offshore the above interlocutory injunction.

If the Company chooses to exercise its contractual right of cancellation it is free to call on the refund guarantees.

Otto Offshore has to date not tendered the Vessel for delivery.

MOSU - Report 4th Quarter 2010

Company news

2011-02-28 11:08:10

Please find attached the 4th Quarter 2010 Report for Mosvold Supply Plc.

For further information contact CEO Torstein Bringa, mob +47 4813 7090

MOSU Notice of arbitration hull no 7048

Company news

2010-12-24 10:16:33

Mosvold Supply Plc's wholly owned subsidiary, Mosvold Supply II Ltd (the "Company"), in mid 2007 contracted from Otto Offshore Limited ("Otto Offshore"), a wholly owned subsidiary of Otto Marine Limited, a company incorporated in Singapore, to construct a large anchor handling vessel (the "Vessel").

The Vessel's (the yard's hull no 7048) Contractual Delivery Date is end June 2010. The Company's right to cancel the contract and claim refund under the refund guarantee accrues, if the Vessel is not validly tendered within a period of 180 days (excluding provision for net delay caused by permissible delays), after contractual Delivery Date.

The Company having taken legal advice does not believe that there has been any permissible delays and that no net delay exists under the contract.

Otto Offshore has filed a notice of arbitration with Singapore International Arbitration Centre ("SIAC"), seeking a declaration that the Delivery Date be postponed, adjusted, open ended or alternatively at large.

The Company on legal advice regards the claim completely unjustified and without merit and will oppose such declaration.

For further information contact CEO Torstein Bringa, mob +47 4813 7090

MOSU - Report 3rd Quarter 2010

Company news

2010-11-12 00:07:21

Please find attached the 3rd Quarter 2010 Report for Mosvold Supply Plc.

For further information contact CEO Torstein Bringa, mob +47 4813 7090

MOSU - Repayment of Bonds

Company news

2010-09-10 14:43:49

Mosvold Supply I Limited (the "Company"), one of four wholly owned subsidiaries of Mosvold Supply Plc. (altogether the "Group"), on 18th May 2010 cancelled its AHTS (VS 491 CD) vessel (Hull No: 7047) being built at Otto Marine Limited's yard at Batam, Indonesia (the "Yard").

Norsk Tillitsmann, as trustee, has received full payment as demanded under the refund guarantees, of approximately USD 25.6 Million. This amount includes approximately USD 1.2 Million in interest previously in dispute.
The Company's costs incidental to the injunction, by order of the Singaporean court, are to be paid by Otto Offshore Ltd. The court also ordered that there be an enquiry into any losses that the Company may have suffered as a result of the injunction.
The Company will claim refund of costs and damages incidental to the injunction.

The refund has been applied to repay 50 per cent of the Senior Secured Bond of NOK 185 Million, including interest and pre payment fee.

Further, the refund will be applied to repay up to 50 per cent of the April 2010 Convertible Bond of USD 11 Million, subject to Bondholders option to be exercised latest by 27th September 2010.

Mosvold Supply Plc.'s main shareholder, Mosvold Shipping Holding Limited, holding approximately 42% (equal to USD 4.6 Million) of the Convertible Bond, has advised the Company that it will not exercise its option.

Further, Mosvold Shipping Holding Limited as lender has agreed to extend the repayment date of the short term secured interim loan facility with six months, from September 2010 until March 2011. The facility has been reduced with USD 1.5 Million, from USD 5 Million to USD 3.5 Million.

With this facility, and provided no unforeseen circumstances occur, the Group is fully financed until delivery of the remaining vessels (hulls 7048, 7049 and 7050 respectively) from the Yard.

For further information contact CEO Torstein Bringa, mob +47 4813 7090

MOSU - Report 2nd Quarter 2010

Company news

2010-08-16 10:56:51

Please find attached the 2nd Quarter 2010 Report for Mosvold Supply Plc.

For further information contact CEO Torstein Bringa, mob +47 4813 7090

MOSU - Cancellation of Hull No. 7047 - Refund guarantee

Company news

2010-08-02 15:26:19

Mosvold Supply I Limited (the "Company"), a wholly owned subsidiary of Mosvold Supply Plc., on 18th May 2010 cancelled its AHTS (VS 491 CD) vessel (Hull No: 7047) being built at Otto Marine Limited's yard at Batam, Indonesia (the "Yard").

Under the shipbuilding contract the Company has demanded refund of instalments paid including interest, in total approximately USD 25 Million, from the guaranteeing bank.

The Yard disputed the termination and obtained an ex parte injunction preventing the Company's draw down under the refund guarantee.

Following court orders in Singapore 16th and 19th July 2010, in which the injunction was set aside, the payment under the refund guarantee was received by the trustee, Norsk Tillitsmann ASA today, 2 August 2010.

The Company's costs incidental to the injunction, by order of the Singaporean court, are to be paid by the Yard.

Notwithstanding the refund of the instalments, the Yard has initiated arbitration proceedings to challenge the Company's cancellation.

The Company considers the Yard's allegations that the cancellation was unlawful as completely unsubstantiated and unfounded.

For further information contact CEO Torstein Bringa, mob +47 4813 7090

MOSU - Cancellation of Hull No. 7047 - Injunction - Refund guarantee

Company news

2010-07-19 08:46:53

Mosvold Supply I Limited (the "Company"), a wholly owned subsidiary of Mosvold Supply Plc., on 18th May 2010 cancelled its AHTS (VS 491 CD) vessel (the yard's Hull No: 7047) being built at Otto Offshore Limited's yard (the "Yard") at Batam, Indonesia.

The Yard disputes the termination and obtained an ex parte injunction in Singapore preventing the Company's draw down under the refund guarantees.

The Company challenged the injunction and following a hearing in the Singaporean court 16th July 2010, the Company was entirely successful, the Court making the following orders:
(i) The Order of Court dated 31st May 2010 and the Injunction granted therein on an ex-parte basis be set aside.
(ii) There be an inquiry as to whether the Company has sustained any, and if any, what damages by reason of the said injunction which the the Yard ought to pay according to the
undertaking contained in the said Order and for interest therein.
(iii) The Company's costs of, and incidental to the application as agreed or failing agreement as taxed, be paid by the Yard.

The Yard may seek to challenge the Court's ruling within 30 days.

There is nothing to prevent the Court's orders being acted on, and further demands on the refund guarantor, Bangkok Bank to pay under the refund guarantees, have already been made.

For further information contact CEO Torstein Bringa, mob +47 4813 7090

MOSU - Cancellation of Hull No. 7047 - Refund guarantee

Company news

2010-06-01 16:49:58

Mosvold Supply I Limited (the "Company"), a wholly owned subsidiary of Mosvold Supply Plc., on 18th May 2010 cancelled its AHTS (VS 491 CD) vessel (the yard's Hull No: 7047) being built at Otto Offshore Limited's yard (the "yard")at Batam, Indonesia.

The yard dispute the termination and has obtained an ex parte injunction preventing the Company's draw down under the refund guarantee.

The Company's lawyers have been instructed to contest the injunction. Their advice is that they expect this to be successful.


For further information contact CEO Torstein Bringa, mob +47 4813 7090

MOSU- new secured Convertible Bond of USD 11 million; subscription competed 31st May 2010

Company news

2010-06-01 08:21:09

Reference is made to the notice published on the OTC 25th May 2010 about a proposed new secured Convertible Bond of USD 11 million. The subscription was completed yesterday, 31st May 2010. USD 11 mill was subscribed to, of which Mosvold Shipping Holding Limited, the single largest shareholder subscribed for approx. USD 7.3 million.

For further information contact CEO Torstein Bringa, mob +47 48 13 70 90.

MOSU - Cancellation of Hull No. 7047 - Refund guarantee

Company news

2010-05-27 15:07:58

Reference is made to press release issued earlier today.



Under the shipbuilding contract Mosvold Supply I Limited (the "Company"), a wholly owned subsidiary of Mosvold Supply Plc., has demanded refund of instalments paid including interest, to the guaranteeing bank.



The bank guarantee is an "on demand" bank guarantee, and the Company expects the guaranteeing bank to honour its commitments irrespective of Otto Offshore Limited's completely unsubstantiated and unfounded claims.

For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU - Cancellation of Hull No. 7047

Company news

2010-05-27 14:25:56

Mosvold Supply I Limited (the "Company"), a wholly owned subsidiary of Mosvold Supply Plc., on 18th May 2010 cancelled its AHTS (VS 491 CD) vessel (the yard's Hull No: 7047) being built at Otto Offshore Limited's yard at Batam, Indonesia.

The Company today received notice from Otto Offshore Limited claiming that the cancellation was wrongful.
The yard claims four months permissible delay due to "numerous requests for variations on a mulitude of issues", and a corresponding extension of Contract Delivery Date.
The Company considers the claim completely unsubstantiated and unfounded and will dismiss it in its entirety.

For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU - Secured Convertible Bond of USD 11 million

Company news

2010-05-25 18:15:54

Mosvold Supply Plc. proposes a second USD 11 million secured Convertible Bond as outlined in the Company presentation and Term Sheet in connection with a similar bond loan in April 2010.

A presentation and a letter to all shareholders in which the Company summarizes the main terms are enclosed.

For further information contact CEO Torstein Bringa, mob 47 48 13 70 90.

MOSU: Report 1st Quarter 2010

Company news

2010-05-19 13:26:29

Please find attached the 1st Quarter 2010 Report for Mosvold Supply Plc.

For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU - Cancellation of Hull No. 7047

Company news

2010-05-18 11:27:32

Mosvold Supply I Limited (the "Company"), a wholly owned subsidiary of Mosvold Supply Plc., cancelled today the first in a series of four AHTS (VS 491 CD) vessels being build with Otto Offshore Ltd.'s yard at Batam, Indonesia, namely hull no 7047.

The Company is according to the shipbuilding contract entitled to a refund of instalments paid including interest and has today made a demand thereon to the guaranteeing bank.

For further information contact CEO Torstein Bringa, mob +47 4813 7090.

MOSU - Extraordinary General Meeting 13 May 2010

Company news

2010-05-14 11:13:43

The Extraordinary General Meeting of Mosvold Supply Plc. took place in Nicosia, Cyprus on the 13th of May 2010 to increase the authorized share capital of the Company.

The meeting passed the following resolution:

"THAT the authorized share capital of the Company be increased from USD 1.000.000 (United States Dollars One million) divided into 100.000.000 (One hundred million) ordinary shares of USD 0,01 (United States Dollars One cent) each to USD 3.000.000 (United States Dollars Three million) divided into 300.000.000 (Three hundred million) ordinary shares of USD 0,01 (United States Dollars One cent) each, by the creation of 200.000.000 (Two hundred million) additional shares of USD 0,01 (Unites States Dollars One cent) each, such new shares to rank pari passu in all respects with the existing shares in the capital of the Company"

MOSU- Changes to the Board of Directors

Company news

2010-05-11 12:42:22

Reference is made to the notice published on the OTC 21st April 2010 about organizational changes and proposed changes to the Board of Directors.

Effective from 6th May 2010, Magne Kristiansen has resigned as a Director of Mosvold Supply Plc. and and has from the same date been replaced by Morten Borge from Mosvold Shipping. Roy Mosvold will continue as Chairman of Mosvold Supply Plc.

MOSU - Annual General Meeting 5 May 2010

Company news

2010-05-05 17:23:10

The Annual General Meeting of Mosvold Supply Plc. took place in Nicosia, Cyprus on the 5th of May 2010 to consider the Annual Report of the Company for 2009.

The Annual Report as presented was unanimously approved.

MOSU - Organisational changes

Company news

2010-04-29 08:32:45

Partner in Mosvold Shipping Magne Kristiansen has acted as CEO of Mosvold Supply Plc. since September 2009, but will with effect from 1st May 2010 be replaced by Torstein Bringa. Torstein is also a partner in Mosvold Shipping and has more than 25 years of experience from different positions in the oil service industry (primarily in Aker-related companies, but with Mosvold Shipping since 2007). Magne Kristiansen is a director of Mosvold Supply Plc. and will be proposed replaced by Morten Borge from Mosvold Shipping. Roy Mosvold will continue as Chairman of Mosvold Supply Plc. Magne Kristiansen is leaving Mosvold Shipping to set up his own business.

MOSU - Notice of Extraordinary General Meeting for 13th May 2010

Company news

2010-04-22 09:50:33

Please find attached The Board of Directors Notice of the Extraordinary General Meeting.

The Meeting is called for 13th May 2010 at 12.00 Hours and will be held at the office of Montanios & Montanios, Diagoras House, 16 Pantelis Catelaris Street, Nicosia, Cyprus

MOSU- new secured Convertible Bond of USD 11 million; subscription competed 20th April 2010

Company news

2010-04-21 10:17:37

Reference is made to the notice published on the OTC 15th April 2010 about a proposed new secured Convertible Bond of USD 11 million. The subscription was completed yesterday, 20th April 2010. USD 11 mill was subscribed to, of which Mosvold Shipping Holding Limited, the single largest shareholder subscribed for approx. USD 4.6 million .

For further information contact CEO Magne Kristiansen, mob +47 90 68 89 92.

MOSU- new secured Convertible Bond of USD 11 million

Company news

2010-04-15 13:28:15

Reference is made to the notice published on the OTC 12th April 2010 about a proposed new 1st Priority Convertible Bond of USD 22 million and how the Company was not successful in achieving full subscription for this proposed new loan.

Enclosed please find a letter sent out today to all the shareholders of Mosvold Supply Plc. together with a presentation regarding a proposed new secured Convertible Bond of USD 11 million, with improved terms.

For further information contact CEO Magne Kristiansen, mob +47 90 68 89 92.

MOSU-Update on the proposed new 1st Priority Convertible Bond

Company news

2010-04-12 09:33:25

Reference is made to the notice published on the OTC 29th March 2010 about a proposed new 1st Priority Convertible Bond. The Company was not successful in having full subscription for this proposed new loan.

The Company is considering improved terms on this proposed new loan, as well as other alternative solutions.

For further information contact CEO Magne Kristiansen, mob +47 90 68 89 92.

MOSU - Notice of Annual General Meeting for 5th May 2010

Company news

2010-04-06 08:52:48

Please find attached The Board of Directors Notice of the Annual General Meeting and the Annual report for 2009.

The Meeting is called for 5th May 2010 at 12.00 Hours and will be held at the office of Montanios & Montanios, Diagoras House, 16 P. Catelaris street, Nicosia, Cyprus

USD 22 million proposed new 1st priority convertible bond

Company news

2010-03-29 13:19:36

Enclosed please find a letter sent out today to all the shareholders of Mosvold Supply Plc. together with a presentation regarding a USD 22 million proposed new 1st priority convertible bond.

For further information contact CEO Magne Kristiansen, mob +47 90 68 89 92.

MOSU: Report 4th Quarter 2009

Company news

2010-02-26 12:05:44

Please find attached the 4th Quarter 2009 Report for Mosvold Supply Plc.

For further information contact CEO Magne Kristiansen, mob +47 90 68 89 92.

MOSU: Report 3rd Quarter 2009

Company news

2009-11-27 14:02:25

Please find attached the 3rd Quarter 2009 Report for Mosvold Supply Plc.

For further information contact CEO Magne Kristiansen, mob +47 90 68 89 92.

MOSU presentation

Company news

2009-09-02 16:24:57

Please find attached a company presentation, to be presented today at the Pareto Conference.

For further information contact CEO Magne Kristiansen, mob +47 90 68 89 92.

MOSU-New CEO

Company news

2009-08-27 12:31:36

Reference is made to the press-release issued 30th March 2009 about the CEO, John Bernander, resigning from his position in Mosvold Supply Plc with the effect from the end of August 2009.

The Company is in the process of hiring a new CEO. Partner Magne Kristiansen in Mosvold Shipping will as of today act as the CEO of Mosvold Supply Plc until a new person is employed.

For further information contact CEO Magne Kristiansen, mob +47 90 68 89 92.

MOSU: Report 2nd Quarter 2009

Company news

2009-08-07 11:03:17

Please find attached the 2nd Quarter 2009 Report for Mosvold Supply Plc.

MOSU: Report 1st Quarter 2009

Company news

2009-05-14 10:25:33

Please find attached the 1st Quarter 2009 Report for Mosvold Supply Plc.

MOSU - Annual General Meeting 29 April 2009

Company news

2009-04-29 13:45:30

The Annual General Meeting of Mosvold Supply PLC took place in Nicosia, Cyprus on the 29th of April 2009 to consider the Annual Report of the Company for 2008.

The Annual Report as presented was unanimously approved.

MOSU: CEO to resign

Company news

2009-03-30 11:36:25

John Bernander to resign from Mosvold Supply PLC. and the Mosvold Shipping Group.

Through his company, Tophdal AS, Mr. John Bernander has been contracted as sub-manager in charge of management of Mosvold Supply PLC. Mr Bernander is also a Partner in the Mosvold Shipping Group.

The Company has been notified that he has accepted the offer to become the next CEO of The Confederation of Norwegian Enterprises (NHO), the main representative body for Norwegian employers.

Mr. Bernander will not take up his new position until 1 September 2009 and will continue his tasks for both Mosvold Supply PLC and the Mosvold Shipping Group through August 2009 or until other arrangements may be made by the Group and Company.

"We are sad to see Mr Bernander leave, but thankful for the efforts he has made for the Mosvold Shipping Group since he joined us in the spring of 2007", says Mosvold Supply PLC Chairman, Mr . Roy Mosvold. "We have sufficient time to make other adequate arrangements to take over the various tasks assigned to Mr. Bernander and we wish him luck and success in his new endeavours when he leaves at the end of August 2009", concludes Roy Mosvold.

Notice of Annual General Meeting for 29 April 2009

Company news

2009-03-27 14:31:21

Please find attached The Board of Directors Notice of the Annual General Meeting and the Annual report for 2008. The Meeting is called for 29th April 2009 at 12.00 Hours. The Meeting will be held at the office of Montanios & Montanios ,Diagoras House, 16 P. Catelaris street, Nicosia, Cyprus

MOSU: Report 4th Quarter 2008

Company news

2009-02-12 10:55:15

Please find attached the 4th Quarter 2008 Report for Mosvold Supply Plc.

MOSU: Report 3rd Quarter 2008

Company news

2008-11-11 10:35:08

Please find attached the 3rd Quarter 2008 Report for Mosvold Supply Plc.

MOSU - Presentation

Company news

2008-09-10 16:01:22

John Bernander , Mosvold Supply Plc., Presentation at The Pareto Offshore Conference, Oslo 10 September 2008

MOSU: Report 2nd Quarter 2008

Company news

2008-08-04 11:10:05

Please find attached the 2nd Quarter 2008 Report for Mosvold Supply Plc.

MOSU: Report 1st Quarter 2008

Company news

2008-05-15 12:17:55

Please find attached the 1st Quarter 2008 Report for Mosvold Supply Plc.

MOSU - Annual General Meeting 8 May 2008

Company news

2008-05-13 13:15:57

The Annual General Meeting of Mosvold Supply PLC took place in Nicosia, Cyprus on the 8th of May 2008 to consider the Annual Accounts of the Company for 2007.

The accounts as presented were approved. Please find attached the Minutes of the AGM.

Keel Laying Ceremony, 28 April 2008

Company news

2008-05-02 10:29:22

We have previously informed that Keel Laying was planned for end April 2008. The Ceremony was held on 28 April and the milestone for payment of the 2nd installment under the shipbuilding contract has been met as scheduled.

Please find attached a picture from the Ceremony.

MOSU - Annual report and audited accounts 2007

Company news

2008-04-10 13:47:49

Please find attached the Annual Report for 2007 for Mosvold Supply PLC.

Any questions may be directed to John Bernander at + 47 915 31900 or jgb@mosvold.com

Notice of Annual General Meeting for 8 May 2008

Company news

2008-04-07 09:58:29

Please find attached The Board of Directors Notice of the Annual General Meeting. The Meeting is called for 8 May 2008 at 11.00 Hours. The Meeting will be held at the office of Montanios & Montanios ,Diagoras House, 16 P. Catelaris street, Nicosia, Cyprus

MOSU: Correction to presentation of 5 March 2008

Company news

2008-03-07 11:07:44

Please note that the presentation of 5 March, posted below from the DnBNor Offshore Conference, contains an unfortunate print error in slide No. 3. In the comparison of ships under Olympic the ship specification reads Aker A 122 and should read Ulstein A 122.
We regret any misunderstandings that may have arisen out of this.

MOSU: Report 4th Quarter 2007

Company news

2008-03-07 11:00:46

Please find attached the 4th Quarter 2007 Report.

Any Questions may be directed to John Bernander at + 47 915 31900 or jgb@mosvold.com

MOSU - Presentation 5 March 2008

Company news

2008-03-05 08:54:58

Attached is Mosvold Supply PLC , update and outlook , presentation at DnbNor Offshore Seminar , Oslo 5 March 2008

Steel Cutting Ceremony, Hull No 7047, Batamec Shipyard

Company news

2008-01-28 14:59:09

Steel Cutting for the first of four VS 491 CD commences Feb 24 th. 2008. The Building Supervision Site Team is well established at the Yard.

Endring av aksje: Mosvold Supply Ltd (MOSU)

Corporate actions

2007-12-17 13:44:47

Det er foretatt endringer i Mosvold Supply Ltd (ISIN:CY0100401211, ticker MOSU). Navnet Mosvold Supply Ltd har endret navn til Mosvold Supply Plc.. Aksjebeholdningen er øket fra 17 500 000 til 26 500 000. Emisjonsverdien er øket fra 210 000 000 til 337 875 000.

MOSU -Correction Report

Company news

2007-11-30 10:12:07

The Company issued the 3rd Quarter 2007 Report this morning, not the 4th Quarter Report as mis-printed in the Headline.

MOSU: Report 4th Quarter 2007

Company news

2007-11-30 08:47:38

See enclosure for Report 4th Quarter 2007.

Any Questions may be directed to John Bernander at + 47 915 31900 or jgb@mosvold.com

Notification of insider purchase of shares

Company news

2007-11-27 16:59:01

Mr. Torstein Bringa, a partner of the Mosvold Shipping Group and related to Mosvold Management(Cyprus)Limited and its activities for Mosvold Supply Plc , has today purchased 30.000 shares in Mosvold Supply Plc for a price of NOK 12,75 per share.
Mr. Bringa holds a total of 70.000 shares after the above purchase

Mosvold Supply Plc, Company presentation, London , Nov 2007

Company news

2007-11-08 09:14:14

Please find attached a Company Presentation, presented in London Nov 6 - 7 th., 2007

Mosvold Supply Plc. - Subjects lifted for two more VS 491 CD ACHT s

Company news

2007-09-24 09:28:50

Mosvold Suply Plc. lifts subjects and exercises its options to build two more VS 491 CD large Anchor Handler Vessels at Batamec Shipyard Pte.

Mosvold Supply Plc. - New share issue completed

Company news

2007-09-24 08:41:14

By close of business Friday 21 Sep., the private placement of NOK 115 mill. was concluded. With the conlusion of the private placement the Company has issued 9000.000 new shares bringing the total number of outstanding shares to 26.500.000

Mosvold Supply Plc - NOK 115m equity private placement

Company news

2007-09-13 08:43:50

Mosvold Supply Plc announces secured financing commitments of Nok 115 mill. equity in private placement and a USD 21 mill. Convertible bond issue.
The capital raised will enable Mosvold Supply Plc. to exercise its options to build an additional two large AHTS ,Vik Sandvik VS 491 CD,at PT Batamec Shipyard.

MOSU - Presentation at Pareto conference

Company news

2007-08-31 08:33:38

Extraordinary General Meeting 17 August 2007

Company news

2007-08-20 09:16:03

As previously announced a Extraordinary General Meeting of Mosvold Supply Ltd. was held in Nicosia on the 17 th August.

The meeting unanimously agreed the proposed resolutions and resolved :

1. To increase the Company's authorised share capital from USD 300.000 to USD 1.000.000

2. To appoint Mrs Eleni Georgiades and Mrs Irene Savvides as new Members of the Board of Directors.

The meeting was informed by the Company Secretary, Mrs. Maria Toumazi that its application to be registered as a Cyprus Public Limited Company, Plc., has been confirmed by the Cyprus Registrar of Companies.

Extraordinary General Meeting , August 17 th. 2007

Company news

2007-07-30 15:36:08

Please be advised that an Extraordinary General Meeting of Mosvold Supply Ltd.,to be renamed Mosvold Supply Plc.,has been called for Friday 17 th. August at 10.00 Hrs., at Diagoras House , 7 th. floor, 16 P. Catelaris Street , Nicosia 1306 , Cyprus .

For further details please consult the attached Notice of Meeting.Any Questions may be directed to John Bernander at + 47 915 31900 or jgb@mosvold.com

MOSU Market presentation of 20 th June 2007

Company news

2007-07-30 10:29:31

The presentation made to the market by Mosvold Supply Ltd. on 20 th. June 2007, in connection with the Equity Private Placement.

MOSU – Mosvold Supply Ltd er registrert på OTC – listen

Company news

2007-07-02 17:22:50

Mosvold Supply Ltd er registrert på OTC - listen f.o.m. 3. juli 2007. Ticker: MOSU. ISIN: CY 0100401211. Antall aksjer utstedt av selskapet er 17,5 millioner. Emisjonsverdien på selskapet er NOK 210 millioner basert på siste emisjonskurs i juni 2007 på kurs NOK 12,00 (USD 2). Pålydende per aksje er USD 0,01. Selskapet har inngått avtale om bruk av meldingssystemet og vil kunne benytte dette fra og med 3. juli 2007.

Selskapet har kontrahert 2+1+1 ankerhåndteringsfartøy. Det er gjort en emisjon mot et større utvalg av finansielle investorer. Langsiktig mål er notering på Oslo Børs.