Brief: S.D. Standard Drilling To Sell PSV Standard Supporter

SD Standard Etc

19/11/2019 07:14

Nov 19 (Reuters) - SD Standard Drilling PLC  SDSD.OL :
    * HAS ENTERED INTO A MEMORANDUM OF AGREEMENT ("MOA") TO SELL STANDARD SUPPORTER\, ONE (1)
LARGE
NORWEGIAN BUILT PLATFORM SUPPLY VESSELS ("PSV")
    * THROUGH ITS WHOLLY OWNED SUBSIDIARY STANDARD SUPPORTER AS HAS AGREED TO SELL ONE  UT 776
CD PSV
VESSEL, STANDARD SUPPORTER FOR USD 15 MILLION
    * FOLLOWING SALE, COMPANY WILL CONTROL, DIRECTLY AND INDIRECTLY, A FLEET OF 13 PSVS;
    * TRANSACTION IS SUBJECT TO INSPECTION AND EXPECTED TO BE COMPLETED WITHIN EXPIRING OF
DECEMBER
2019.
    * PROFIT, EXCLUDING FAIR VALUE ADJUSTMENTS, WILL BE APPROXIMATELY USD 4 MILLION
    * BY SELLING STANDARD SUPPORTER WE HAVE ALSO REDUCED FORWARD CAPITAL EXPENDITURES COMMITMENT
IN
RELATION TO VESSEL DUE IN 2020

Source text for Eikon:  ID:nObiwbyNPa 
Further company coverage:  SDSD.OL 

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