Brief: Siem Maragogi: Penalty Due To Late Delivery

Sea1 Offshore

14/03/2022 14:13

March 14 (Reuters) - Siem Offshore Inc  SIOFF.OL :
    * PENALTY DUE TO LATE DELIVERY
    * SIEM OFFSHORE DO BRASIL HAS BEEN NOTIFIED OF FINAL
UNFAVORABLE
DECISION OF A BRAZILIAN COURT IN A LAWSUIT FILED AGAINST
PETROBRAS
    * A LATE DELIVERY PENALTY CHARGE WAS IMPOSED BY PETROBRAS ON
SIEM
OFFSHORE DO BRASIL
    * PENALTY CHARGE HAS BEEN ACCRUED FOR IN PREVIOUS YEARS'
ACCOUNTS
AND WILL NOT HAVE ANY IMPACT ON PROFIT AND LOSS ACCOUNT FOR 2022
    * DECISION OF COURT WILL HAVE A NEGATIVE CASH EFFECT
EQUIVALENT TO
USD 4.8 MILLION

Source text for Eikon:  ID:nObiwqJkha 
Further company coverage:  SIOFF.OL 

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