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Fjerning av aksje: Sea4 AS (SEAF)

Corporate actions

2009-10-09 09:40:44

Sea4 AS (ISIN:NO0010400740, ticker SEAF) er fjernet fra handelsstøttesystemet

   

SEAF - Sea4 AS - removal from the NOTC-system

Company news

2009-10-09 09:39:50

Ocean Partners AS owns 100% of the shares in Sea4 AS. As a consequence of the changed ownership in Sea4 AS, the company will be removed from the NOTC-list with immediate effect.

   

SEAF: SEA4 - Notice of Extraordinary General Meeting of Sea4 AS

Company news

2009-10-01 15:17:21

As a consequence of the changed ownership of Sea4 AS, a Notice is herby given for an Extraordinay General Meeting in Sea4 AS to be held at the office of the company in Hasseldalen, Grimstad, Norway on Friday 9 October 2009 at 08:00 hours (CET).

Please find enclosed copy of relevant documents as posted to the shareholders.

www.sea4.com

  Innkalling til EGF 09 10 09.pdf

SEAF - Sea4 - Acceptance level voluntary cash offer

Company news

2009-10-01 10:04:57

Reference is made to the announcement of 24 September 2009 and to the voluntary cash offer from Ocean Partners AS to all the shareholders in Sea4 AS for the outstanding shares in the company.

As per the expiry of the Offer Period on 30 September 2009 at 16:00 hours, Ocean Partners AS had received acceptances for approximately 77% of the issued shares in the company. As a result of the acceptances in the voluntary cash offer, Ocean Partners AS controls approximately 98% of the total issued shares in the company.
The final offer price to be paid per share was increased to NOK 1.39 and settlement will be completed on or about 6 October 2009.

As a consequence of the changed ownership of Sea4 AS, the company will call for an EGM to be held at the office of the company in Hasseldalen, Grimstad, Norway on Friday 9 October 2009 at 08:00 hours.

   

SEAF - Sea4 - Cancellation of MNOK 148.5 rights issue

Company news

2009-09-24 12:54:29

Reference is made to the announcement from the company on 7 September 2009 and to the Minutes of the EGM held the same day, relating to the conditional MNOK 148.5 rights issue.

For the sake of good order, please note that the MNOK 148.5 rights issue is cancelled as the company's two subsidiaries have been sold, and the condition for the rights issue as per EGM resolution 4-8 of 7 September 2009 accordingly is not fulfilled.

   

SEAF - Sea4 - Voluntary cash offer from Ocean Partners AS

Company news

2009-09-24 11:08:45

With reference to announcement 17 September 2009, Sea4 AS has today received a copy of letter from Ocean Partners AS, the leading shareholder of Sea4 AS, of a voluntary cash offer to all the shareholders in Sea4 for the outstanding shares in the company. The offer is NOK 1.38 per share and conditional of more than 50% acceptance level.

The Offer Period is set from 24 September through 30 September 2009 at 16:00 (CET). Payment will be made on or about 5 October 2009.

Please find enclosed a copy of the letter from Ocean Partners AS.

For further information please contact:
Per Martin Langaas, CEO Sea4 AS, Tel +47 9756 2445
Henrik Kulseng-Hanssen, First Securities Corporate Finance. Tel +47 9201 6850

www.sea4.com

  OP tilbud Sea4.pdf

SEAF - Sea4 - Voluntary offer from Ocean Partners AS

Company news

2009-09-17 08:46:25

Ocean Partners AS, the leading shareholder of Sea4 AS (Sea4), will shortly present a voluntary cash offer to all the shareholders in Sea4 for the outstanding shares in the company. The offer will be in the range of NOK 1.35 - 1.40 per share and will be conditional of 67% acceptance level. The offer will secure rapid cash settlement for all shareholders in Sea4, following the company's recent sale of the shipbuilding contracts.

For further information please contact:
Atle Bergshaven, Chairman of Ocean Partners AS, telephone + 47 9116 3472, or
Helge Aamodt, CFO of Bergshav Management AS, telephone +47 9160 8392

   

SEAF: SEA4 - Sale of shipbuilding contracts

Company news

2009-09-17 08:30:02

Sea4 AS (Sea4) has on 16 September 2009 signed an agreement to sell its two shipbuilding contracts to GC Rieber Shipping ASA. The sale implies a total value for the two shipbuilding contracts of approx MNOK 800.

The transaction will be conducted through a sale of 100% of Sea4's shares and receivables in the two subsidiaries Sea4 I Shipping Ltd and Sea4 II Shipping Ltd. The sales price reflects a net value adjusted equity after estimated termination costs in the range of NOK 1.35 - 1.40 per share in Sea4. Transferred to the previous number of shares in Sea4 (i.e. before the MNOK 76.5 rights issue was completed in mid August), the sale reflects a net value adjusted equity after estimated termination costs in the range of appox NOK 4.00 - 4.25.

Closing is expected to take place on or about 18 September 2009.

For further information please contact:
Atle Bergshaven, Chairman of Sea4 AS, telephone + 47 9116 3472,
or Per Martin Langaas, CEO of Sea4 AS, telephone +47 9756 2445

www.sea4.com

   

SEAF: SEA4 - Minutes of Extraordinary General Meeting

Company news

2009-09-07 11:19:16

Sea4 AS has today on 7 September 2009 held an Extraordinary General Meeting.

All the proposals from the Board of Directors to the General Meeting were unanimously approved.

Please find attached signed minutes of the EGM.

www.sea4.com

  EGM 070909 - Minutes.pdf

SEAF: SEA4 - Notice of Extraordinary General Meeting of Sea4 AS

Company news

2009-08-31 16:48:46

Notice is hereby given that an Extraordinay General Meeting in Sea4 AS will be held at the office of the company in Hasseldalen, Grimstad, Norway on Monday 7 September 2009 at 09:00 hours (CET).

Please find enclosed copy of relevant documents as posted to the shareholders.

For further information please contact: Atle Bergshaven, Chairman, telephone + 47 9116 3472, or Per Martin Langaas, CEO, telephone +47 9756 2445

www.sea4.com

  Notice EGM 31.08.09.pdf

Endring av aksje: Sea4 AS (SEAF)

Corporate actions

2009-08-31 13:13:24

Det er foretatt endringer i Sea4 AS (ISIN:NO0010400740, ticker SEAF). Aksjebeholdningen er øket fra 48 620 000 til 201 620 000.

   

SEAF: SEA4 - Issuance of shares

Company news

2009-08-31 12:55:56

Reference is made to the announcement from Sea4 AS 31 July 2009, relating to the authorization from the EGM to conduct a rights issue of MNOK 76.5 by issuing a total of 153.000.000 new shares in the company.

The MNOK 76.5 rights issue was significantly oversubscribed and the new shares were allocated to shareholders on 18 August 2009.

The new shares are now validly and legally issued, fully paid up and registered with the Norwegian Registry of Securities ("Verdipapirsentralen"). The shares were issued on Friday 28 August 2009.

Following the issuance of the new shares, the total number of shares in Sea4 AS is 201.620.000, each with a nominal value of NOK 0.50.

   

SEAF: SEA4 - Reopening of negotiations and extention of subsciption period

Company news

2009-08-19 17:22:01

Reference is made to announcement from the Company 13 August 2009, where it was informed that the agreement for sale of the Company's shipbuilding contracts had been aborted. Sea4 AS is pleased to inform that negotiations with same potential buyer have been reopened through the shipyard. On the basis of the information from the yard, Sea4 AS therefore intends to pursue a dialogue with the yard and the potential buyer.

The Board of Directors of Sea4 AS has decided, in accordance with authorization from the EGM 31 July 2009, to extend the subscription period for the ongoing MNOK 148.5 rights issue until 7 September 2009 at 1600 CET, allowing more time for further negotiations.

There is also communication between Sea4 AS and G.C. Rieber ASA related to their bid for the shares in Sea4 AS, although no access for a due diligence process has been granted based on the present offer.

The yard has in connection with the negotiations with potential buyers offered, on certain conditions, an extension of Sea4's obligation to provide a guarantee for the remaining installments under the first shipbuilding contract due on 1 September 2009. The Sea4 Board of Directors will therefore consider calling for a new EGM to further extend the subscription period for the ongoing rights issue.

For further information please contact: Atle Bergshaven, Chairman, telephone + 47 9116 3472, or Per Martin Langaas, CEO, telephone +47 9756 2445

www.sea4.com

   

SEAF: SEA4 - Results of NOK 76.5 rights issue and disclosure of subscription of shares

Company news

2009-08-18 09:40:12

The new shares from the MNOK 76.5 rights issue have been allocated. Allocation letters to shareholders will be distributed on 18 August 2009, and the payment date is 20 August 2009. The new shares will not be tradable until the shares have been fully paid and the share capital increase has been registered in the Norwegian Register of Business Enterprises.

Ocean Partner AS, a company controlled by Chairman Atle Bergshaven, has been allocated 33.103.589 shares in Sea4 AS in the rights issue. Following the transaction, Ocean Partner AS will own 43.509.299 shares in Sea4 AS.

ENP Consulting, a company controlled by Board member Magne Sveen, has been allocated 1.479.090 shares in Sea4 AS in the rights issue. ENP Consulting will own 1.949.090 shares in Sea4 AS.

www.sea4.com

   

SEAF: SEA4 - Sale of shipbuilding contracts not materialized

Company news

2009-08-13 16:03:42

Reference is made to the announcement of 16 July 2009 from Sea4 regarding the agreement for sale of shipbuilding contracts to a significant and solvent player in the oil service industry.

The negotiations with regards to the acquisition of the shipbuilding contracts have been aborted.

Sea4 expects to provide further information within Friday 14 August 2009.

For further information please contact: Atle Bergshaven, Chairman, telephone + 47 9116 3472, or Per Martin Langaas, CEO, telephone +47 9756 2445

   

SEAF: SEA4 - Offer from GC Rieber for the shares of Sea4 AS

Company news

2009-08-10 15:59:18

Reference is made to the announcement from Sea4 AS (Sea4) 31 July 2009 regarding the notification of offer from GC Rieber Shipping ASA (Rieber). Reference is further made to the announcement of 16 July 2009 from Sea4 regarding the agreement for sale of shipbuilding contracts to a significant and solvent player in the oil service industry.

Please find attached the offer from Rieber to the shareholders of Sea4 AS.

Also, please find enclosed a letter from the Board of Directors of Sea4 which today has been sent to the CEO of Rieber. As stated in this letter, at the current time the Board of Sea4 recommends that the shareholders do not accept the offer from Rieber.

For further information please contact: Atle Bergshaven, Chairman, telephone + 47 9116 3472, or Per Martin Langaas, CEO, telephone +47 9756 2445

  GC Rieber Shipping ASA offer.pdf
Letter to GC Rieber Shipping ASA.pdf

SEAF: SEA4 - Notification of offer from GC Rieber

Company news

2009-07-31 15:33:09

The Board of Directors of Sea4 As has been notified that GC Rieber will make an official offer of NOK 3,50 per share in Sea4 AS. The offer will be conditional on satisfactory due diligence and acceptance from minimum 67% of the shareholders. The Sea4 AS BoD will upon receipt of the offer, which is expected early next week, review and comment on this.

   

SEAF: SEA4 - Minutes of Extraordinary General Meeting

Company news

2009-07-31 15:17:56

Sea4 AS has today on 31 July 2009 held an Extraordinary General Meeting.

All the proposals from the Board of Directors to the General Meeting were approved.

Please find attached signed minutes of the EGM.

  EGM 31072009.pdf

SEAF: SEA4 - Notice of Extraordinary General Meeting of Sea4 AS

Company news

2009-07-23 14:47:44

Notice is hereby given that an Extraordinay General Meeting of Sea 4 AS will be held at the office of the company in Hasseldalen, Grimstad, Norway on Friday 31 July 2009 at 11:00 hours (CET).

Please find enclosed copy of relevant documents as posted to the shareholders.

For further information please contact: Atle Bergshaven, Chairman, telephone + 47 9116 3472, or Per Martin Langaas, CEO, telephone +47 9756 2445

www.sea4.com

  Notice of EGM 310709.pdf

SEAF: SEA4 - Cancellation of ongoing rights issue and new conditional rights issues

Company news

2009-07-23 14:02:00

Reference is made to previous resolutions by the company relating to the ongoing to the MNOK 225 rights issue and the agreement for sale of the shipbuilding contracts.

The company has received a request from a group of shareholders to restructure the present Rights issue of MNOK 225 in Sea4 AS. The request is supported by shareholders controlling in excess of 50% of the shares in Sea4.

Based on this, the Board has today decided to call for a new EGM and propose that the ongoing rights issue is terminated and replaced by a new and a more limited rights issue of MNOK 76.5 (MEUR 8.5). This amount, if called on, will cover the company's committed payment of MEUR 5.2 due in August 2009 to the shipyard, and repayment of the shareholder loan of MEUR 3.3 including interests. The new rights issue, which is guaranteed by six of the largest shareholders, will only be completed in the event that the sale transaction of the first shipbuilding contract is postponed or fails. The subscription period for the MNOK 76.5 rights issue is proposed to be from 31 July 2009 until 14 August 2009 16:00 (CET).

In addition, the Board proposes a second rights issue of MNOK 148.5 which will be conducted in the event that the sale transactions of the shipbuilding contracts or are being further postponed or fails. The subscription period for the MNOK 148.5 rights issue is proposed to be from 17 August 2009 until 31 August 2009 16:00 (CET).

The proposals are based on the fact that the company has entered into related to sale of 100% of the shares in the Company's subsidiary Sea4 I Shipping Ltd and a possible sale of 100% of the shares in the Company's subsidiary Sea4 II Shipping Ltd as announced by the Company on 16 July 2009.

Notice of the new EGM, to be held 31 July 2009, will be published on the OTC and sent to the Shareholders today.

For further information please contact: Atle Bergshaven, Chairman, telephone + 47 9116 3472, or Per Martin Langaas, CEO, telephone +47 9756 2445

www.sea4.com

   

SEAF: SEA4 - Conditional offer to the shareholders of Sea4 AS

Company news

2009-07-16 15:05:55

First Securities has on behalf of the shareholders in Sea4 received a conditional offer on from Island Offshore / Edison Chouest Offshore. The offer price is NOK 1.50 per existing number of shares in Sea4 AS.

The Board is of the opinion that the price and the conditions of the conditional offer are such that the Board will not recommend it for the Company's shareholders.

Further information and a copy of the offer from Island Offshore / Edison Chouest Offshore can be retrieved from Henrik Kulseng-Hanssen at First Securities AS at + 47 92016850.

Reference is further made to today's previous announcement from Sea4 regarding the agreement for sale of shipbuilding contracts to a significant and solvent player in the oil service industry. This agreement reflects a net value adjusted equity in the range of NOK 4.25 - NOK 4.75 per existing share in Sea4 AS.

For further information please contact: Atle Bergshaven, Chairman, telephone + 47 9116 3472, or Per Martin Langaas, CEO, telephone +47 9756 2445

www.sea4.com

   

SEAF: SEA4 - Sale of shipbuilding contracts. Extension of subscription period

Company news

2009-07-16 15:03:16

Sea4 AS (Sea4) has signed an agreement to sell its shipbuilding contract for the first vessel with a significant and solvent player in the oil service industry.

The sale will be conducted through a sale of 100% of the shares in the subsidiary Sea4 I Shipping Ltd. The agreement and transaction are subject to due diligence and Board approvals on both sides within 15 August 2009.

In addition, in Sea4 has negotiated an agreement on basicly similar terms with the same buyer for the sale of the second shipbuilding contract through a sale of 100% of the shares in the subsidiary Sea4 II Shipping Ltd. The finial decision relating to this sale is to be made within 31 August 2009.

The agreement for sale of the two shipbuilding contracts reflects a net value adjusted equity in the range of NOK 4.25 - NOK 4.75 per existing share in Sea4 AS, depending i.a. on the EUR/NOK exchange rate.

Reference is further made to the ongoing Rights issue in Sea4 AS of MNOK 225. The Board has decided that the subscription period will be extended until 24 July 2009 at 16:00 hrs CET. A subscription form must be filled out to subscribe for shares. Copies of an Investor Presentation and the Subscription Form in relation to the Rights offering can be obtained by contacting First Securities AS at telephone +47 23 23 80 00. The subscription form will also be accessible on Sea4 website at www.sea4.com.

In the event that above mentioned transactions are consummated, the Board will propose to distribute all cash proceeds in Sea4 to the shareholders.

For further information please contact: Atle Bergshaven, Chairman, telephone + 47 9116 3472, or Per Martin Langaas, CEO, telephone +47 9756 2445

www.sea4.com

   

SEAF: SEA4 - Share Issue

Company news

2009-07-08 10:52:44

Reference is made to the minutes of the EGM in Sea4 AS held 3 July and the approved Rights issue of up to MNOK 225.

The subscription period is from 3 July to 17 July 2009. If not all of the shares have been subscribed within 17 July 2009, the Board will have the right to extend the subscription period until 24 July 2009.

A subscription form must be filled out to subscribe for shares. Copies of an Investor Presentation and the Subscription Form in relation to the Rights offering can be obtained by contacting:

First Securities AS
P.O. Box 1441-Vika
N-0115 Oslo, Norway
Switchboard: +47 23 23 80 00

   

SEAF: SEA4 - Minutes of Extraordinary General Meeting

Company news

2009-07-06 14:10:07

Please find attached signed minutes of the EGM in Sea AS held 3 July 2009.

  Minutes of EGM.pdf

SEAF: SEA4 - Extraordinary General Meeting

Company news

2009-07-03 12:47:41

Sea4 AS has today on 3 July 2009 held an Extraordinary General Meeting.

All the proposals from the Board of Directors to the General Meeting were approved.

   

SEAF: SEA4 - Indicative conditional offer to the shareholders of Sea4 AS

Company news

2009-07-03 10:58:35

Sea4 has received an indication of a conditional offer on behalf of Island Offshore / Edison Chouest Offshore. The offer price is NOK 1.50 per existing share, based on 48,620,000 shares outstanding the offer values the Company's equity to NOK 72.9 million.

The Board is of the opinion that the price and the conditions of the indicative conditional offer are such that the Board will not recommend it for the Company's shareholders.

Further information can be retrieved from the Company or its financial advisor, First Securities AS.

Contact information:

Per Martin Langaas, CEO Sea4 AS, Tel +47 37256300
Henrik Kulseng-Hanssen, First Securities Corporate Finance. Tel +47 92016850

   

SEAF:SEA4 - YTD 30 June 2009 Financials

Company news

2009-07-02 17:31:14

Please find enclosed Directors' report, Profit & Loss Statement and Balance Sheet of Sea4 as per 30 June 2009.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

  BOD report for OTC.pdf

SEAF: SEA4 - Notice of Extraordinary General Meeting of Sea4 AS

Company news

2009-06-26 16:06:13

Notice is hereby given that an Extraordinay General Meeting of Sea 4 AS will be held at the office of First Securities, Fjordalléen 16, Aker Brygge, Oslo, Norway on 3 July 2009 at 11:00 hours (CET).

Please find enclosed copy of relevant documents posted to the shareholders.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

  Notice of EGM Sea4 AS.pdf

SEAF:SEA4 - Q1 2009 Financials

Company news

2009-06-03 11:55:34

The Q1 2009 Group income statement showed a net loss of MUSD 0.5. Operating expenses relating to overheads and legal fees amounted to MUSD 0.2. Financials items amounted to a net loss of MUSD 0.2.

Total assets were MUSD 51.4 of which MUSD 46.3 were investments in the two shipbuilding contracts and USD 5.1 was cash in bank. Total equity amounted to MUSD 50.7 of which share capital was MUSD 9.1. Total liabilities per quarter-end were MUSD 0.6.

Please find enclosed Directors' report, Profit & Loss Statement and Balance Sheet of Sea4 as per quarter-end 31th March 2009.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

  Directors report Q1 09.pdf

SEAF: SEA4 - Minutes of Annual General Meeting

Company news

2009-03-23 10:45:30

Please find attached minutes of the AGM held 20 March 2009.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

  Signed minutes of AGM 200309.pdf

SEAF: SEA4 - Notice of Annual General Meeting of Sea4 AS

Company news

2009-03-13 13:21:55

Notice is hereby given that the Annual General Meeting of Sea 4 AS will be held at the office of First Securities, Fjordalléen 16, Aker Brygge, Oslo, Norway on 20 March 2009 at 13:00 hours (CET).

Please find enclosed copy of relevant documents posted to the shareholders.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

  Sea4 - Notice of AGM 200309.pdf

SEAF:SEA4 - Q3 2008 Financials

Company news

2008-11-27 11:11:31

The Q3 2008 income statement showed net earnings of MUSD 0.6. Operating expenses relating to overheads and legal fees amounted to MUSD 0.2. Financials items amounted to MUSD 0.8.

Total assets were MUSD 64.5 of which MUSD 17.2 was cash at bank. Total equity amounted to MUSD 64.2 of which share capital was MUSD 9.1. Total liabilities per quarter-end were MUSD 0.3.

Please find enclosed Directors' report, Profit & Loss Statement and Balance Sheet of Sea4 as per quarter-end 30th September 2008.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

  Q3 2008 accounts - BoD report 261108.pdf

SEAF: SEA4 - Keel laying

Company news

2008-09-19 11:31:18

Sea4 AS is pleased to inform that start of keel laying for the first of the two contracted vessels at Freire Shipyard, Spain (yard hull no. 702) now has been made. The vessel is scheduled for delivery February 2010.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

   

SEAF: SEA4 - Web site

Company news

2008-09-18 15:09:29

Please note that Sea4's web site can be accessed at: www.sea4.no

   

SEAF: SEA4 - Steel Cutting

Company news

2008-09-03 15:58:21

Sea4 AS is pleased to inform that start of steel cutting for the second of the two contracted vessels at Freire Shipyard, Spain (yard hull no. 703) now has been made. The vessel is scheduled for delivery August 2010.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

   

SEAF:SEA4 - Q2 2008 Financials

Company news

2008-09-03 09:20:46

The Q2 2008 income statement shows net earnings of MUSD 0.6. Operating expenses, relating to start-up costs, overheads and legal fees related to the incorporation of the corporate structure amounts to MUSD 0.3. Financials items amounts to MUSD 1.0, primarily due to interest income from cash at bank.

Total assets were MUSD 67.8 of which MUSD 33.4 was cash at bank. Total equity amounted to MUSD 67.5 of which share capital was MUSD 9.6. Total liabilities per quarter-end were MUSD 0.2.

Please find enclosed Directors' report, Profit & Loss Statement and Balance Sheet of Sea4 as per quarter-end 30th June 2008.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

  Sea4 AS - 2Q 08 report.pdf

SEAF: SEA4 AS - Start of Steel Cutting

Company news

2008-06-24 15:14:40

Sea4 As is pleased to inform that start of steel cutting for the first of the two contracted vessels at Freire Shipyard, Spain (yard hull no. 702) took place in Vigo 16 June 2008. The vessel is on schedule for delivery February 2010.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

   

SEAF: SEA4 AS - Organizational Issues

Company news

2008-06-24 14:58:13

Sea4 AS and Bergshav Management AS, the manager of Sea4 AS, have made organizational changes in order to adapt to the new phase of Sea4's development.

John Arne Johnsen has been employed by Bergshav Management AS to act as Project Manager for Sea4. Mr Johnsen has extensive work experience from leading positions in companies within the oil and gas industry, amongst other from Subsea7, DSND Subsea and Ugland Offshore. He holds a Master of Science in Mechanical Engineering from The Norwegian University of Science and Technology in Trondheim.

Bergshav Management's Finance Manager Tore Møster has been appointed to serve as new CFO of Sea4. He also has work experience from Siem Offshore, DSND Subsea and the Ministry of Petroleum and Energy. Mr Møster is Siviløkonom from the Norwegian School of Economics and Business Administration with additional studies in political science and organization theory from the University of Oslo.

Mr Møster succeeds Helge Aamodt in the position as CFO in Sea4. Mr Aamodt will continue in his position as CFO in Bergshav Management AS, and will as such also continue to support Sea4.

Both Mr Johnsen and Mr Møster have taken up their positions and are reporting to the company's CEO, Per Martin Langås.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, telephone +47 3725 6300

   

SEAF: SEA4 AS- Shareholders' information update

Company news

2008-05-23 16:28:59

Reference is made to shareholders information 13 May 2008.

In line with the previous information, Sea4 is pleased to inform that the shipbuilding and tax lease documentation for the two ROV/Light Construction vessels to be built at Freire Shipyard are effective as per 23 May 2008.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, on telephone +47 37256300

   

SEAF: SEA4 AS - Q1 2008 Financials

Company news

2008-05-14 11:49:56

The first quarter 2008 income statement shows net earnings of MNOK 2.7. Operating expenses, mainly relating to lawyers fees and overheads, amounts to MNOK 1.7, while net financials amounts to MNOK 4.4 due to interest income from cash at bank. Tax payable was MNOK 0.

Total assets were MNOK 343.9 of which MNOK 283.5 was cash at bank.

Total equity amounted to MNOK 337.0 of which share capital was MNOK 48.6. Total liabilities per quarter-end were MNOK 6.9.

Please find enclosed Profit&Loss Statement and Balance Sheet of Sea4 AS as per quarter-end 31st March 2008.

  Sea4 AS Q1 2008.pdf

SEAF: SEA4 AS- Shareholders' information update

Company news

2008-05-13 17:28:07

Following a lengthy process, SEA4 is pleased to announce that the shipbuilding and tax lease documentation for two ROV/Light Construction vessels at Freire Shipyard, Spain was signed 13 May 2008. The contracts will become effective 23 May 2008, only pending formal approvals.

Due to the time required to get the documentation in place, primarily related to satisfactory guarantees for SEA4's advanced payments under the shipbuilding agreement, contractual delivery of the vessels will be February 2010 and August 2010 respectively. Steel cutting for the first vessel is scheduled to take place early June 2008.

The SEA4 BoD and Administration has a positive view on the market prospects for ROV/Light construction vessels of the type contracted at Freire Shipyard. The company will now focus its attention on all aspects of the project management as well as finding engagement for the vessels.

For further information please contact: Atle Bergshaven, Chairman, or Per Martin Langaas, CEO, on telephone +47 37256300

   

SEAF: SEA4 AS - Summary of Annual General Meeting held 25 April 2008

Company news

2008-04-28 13:05:57

The AGM of Sea 4 AS was held 25th April. All decisions made, as per the agenda, were unanimous. 29% of the shares were represented at the meeting.

The Chairman and the CEO gave a presentation of the progress of the project. The final shipbuilding contracts have not yet been signed. The Chairman explained that the delay was caused by various aspects pertaining to the Spanish tax lease arrangement and guarantee arrangements.

In the event that the Spanish tax lease structure is terminated due to Sea4's failure to meet certain operational requirements under the agreements, an insurance cover has been established to cover consequential losses in addition to a joint and several guarantee together with and Bergshav Management AS. The insurance scheme has been procured at a cost of MEUR 0.9 per vessel, which is considered favorable as an alternative to other solutions. No guarantee fee is charged by Bergshav Management AS in this connection, but a letter of Indemnity has been issued by Sea4 in favor of Bergshav Management AS.

The second issue yet to be resolved is the wording of the Refund Guarantee for our prepaid installments. A Refund Guarantee has been provided by the guarantor Pymar, however under certain circumstances, the guarantee may expire prior to the delivery of the vessels. The Management is making all efforts to resolve this issue within shortly together with the yard and Pymar, the lead provider of the refund guarantee.

Deliveries of the vessels are scheduled to take place 21 and 27 months respectively after the signing of the final shipbuilding contracts.

For further information please contact: Atle Bergshaven or Per Martin Langaas, telephone +47 37256300

   

SEAF: SEA4 AS - Notice of Annual General Meeting of Sea4 AS

Company news

2008-04-15 15:17:57

Notice is hereby given that the Annual General Meeting of Sea 4 AS will be held at the office of First Securities, Fjordalléen 16, Aker Brygge, Oslo, Norway on 25 April 2008 at 13:00 hours (CET).

Please find enclosed copy of relevant documents posted to the shareholders.

  Notice of AGM and attachements.pdf

SEAF: SEA4 AS - Annual Report 2007

Company news

2008-03-28 14:55:03

Please find attached the company's Annual Report 2007, including audited financial figures.

  Sea4 AS - Annual report 2007.pdf

SEAF: SEA4 AS – Shareholders’ Information Update

Company news

2008-03-07 14:51:31

Date: March 7, 2008

This is the second information update summarizing major events for SEA4 AS (SEA4) following the first information update issued on December 11, 2007.

Yesterday, SEA 4 received approval for its shipbuilding contracts with Freire Shipyard from PYMAR. PYMAR is a private company owned by a federation of Spanish shipyards, which provides shipbuilding contract refund guarantees.

In the beginning of next week, SEA4’s management team and Chairman will travel to Spain to finalize the refund guarantee and tax lease arrangement including an operational performance guarantee. After the refund guarantee and tax lease arrangement are finalized and approved, SEA4’s shipbuilding contracts will become effective.

On 13 March the BoD will meet to review the contractual situation, the accounts and the directors’ report for 2007

SEA4 will provide an additional shareholders update following next week’s meetings.

For further information please contact: Atle Bergshaven or Per Martin Langaas, telephone +47 37256300

   

SEAF: SEA4 AS– Shareholders’ information update

Company news

2007-12-11 16:33:39

Please see attachment regarding shareholders’ information update.

  Investor update SEAF 11 Dec 07.pdf

Sea4 AS er registrert på OTC – listen

Company news

2007-11-28 00:23:18

Sea4 AS ble registrert på OTC - listen 28. november 2007. Ticker: SEAF. ISIN: NO 0010400740. Antall aksjer utstedt av selskapet er 48 620 000. Emisjonsverdien på selskapet er NOK 364,650,000 basert på siste emisjon i november 2007 på kurs NOK 7,50. Pålydende per aksje er på NOK 1,00. Selskapet har inngått avtale om bruk av meldingssystemet og vil kunne benytte dette fra og med 28. november 2007.

SEA4 skal bygge 2 ”Undervannskonstruksjons/ROV fartøyer” til bruk ved undervannsoperasjoner. Selskapets målområder vil være Nordsjøen, Mexicogulfen, Sør Amerika og Vest Afrika. Typiske arbeidsoppgaver omfatter inpeksjoner, vedlikehold og reperasjoner (IMR), samt konstruksjonsstøtte. Skipene bygges ved Freire Shipyard i Vigo i Spania og totalt finansieringsbehov er USD 159 millions, tilsvarende total kostnadsramme. Selskapet planlegger registrering på Kypros.