Brief: Oceanteam Provides Update On Going Concern Issues

Oceanteam ASA

20/03/2018 16:56

March 20 (Reuters) - Oceanteam Asa  OTS.OL :
    * OCEANTEAM'S BOARD OF DIRECTORS HAS DECIDED TO INITIATE
PRECAUTIONARY ACTION
    * OCEANTEAM -BOARD IS PREPARING TO CALL FOR BONDHOLDERS
MEETING,
ASSOCIATED EXTRAORDINARY GENERAL MEETING INCLUDING PROPOSAL FOR 
DEBT FOR EQUITY SWAP
    * ‍CO'S BOARD DECIDED TO INITIATE PRECAUTIONARY ACTION WHICH
INCLUDES BUT IS NOT LIMITED TO A RESTRUCTURING OF CO'S CAPITAL
STRUCTURE​
    * OCEANTEAM - BOARD ACTION DUE TO LINGERING DISCUSSIONS WITH
COMPANY'S BANKS SMN, DVB AND NIBC TO RESOLVE SHORT TERM AND
STRUCTURAL DIVIDEND FLOW
    * OCEANTEAM - OTHER PROPOSALS WILL BE PRESENTED SUCH AS
APPOINTMENT OF NEW AUDITOR, CHANGES TO BOARD, CROSS BORDER
MERGER AND ISSUE OF NEW EQUITY

Source text for Eikon:  ID:nGNE52VfBW 
Further company coverage:  OTS.OL 

 (Reuters.Briefs@thomsonreuters.com)