Brief: Oceanteam says bondholders aim to convert debt to equity

Oceanteam ASA

19/10/2018 16:12

Oct 19 (Reuters) - Oceanteam ASA  OTS.OL :
    * BONDHOLDERS OFFERED TO TAKE A LONG TERM INVESTMENT VIEW ON
OCEANTEAM
    * NEW SHAREHOLDER LOAN AND A PROPOSAL FOR A DEBT TO EQUITY
CONVERSION OF REMAINING BOND LOAN
    * IT IS BECOMING APPARENT THAT THERE ARE BONDHOLDERS WHO ARE
INTERESTED IN TAKING A LONG TERM INVESTMENT VIEW IN COMPANY BY
CONVERTING THEIR CLAIM INTO EQUITY
    * THIS WOULD STRENGTHEN BALANCE SHEET OF COMPANY FOR FUTURE
AND
WILL POSITION COMPANY MORE FAVOURABLY
    * A MAJORITY OF BONDHOLDERS HAVE EXPRESSED SUPPORT TO
PROPOSAL,
AND DISCUSSIONS WITH ALL STAKEHOLDERS WILL CONTINUE UP TO
EXTRAORDINARY GENERAL MEETING

Source text for Eikon:  urn:newsml:reuters.com:*:nObidYvWKa
Further company coverage:  OTS.OL 

 (Reporting By Terje Solsvik)
 ((terje.solsvik@thomsonreuters.com;))