Rem Offshore ASA - Update on bondholders in REM04PRO

Reference is made to the stock exchange announcements made on 27 June 2016 and 18 July 2016 by Rem Offshore ASA (the "Company").

In a bondholder meeting on 18 July 2016, Bondholders controlling more than 1/3 of the Bonds in the Company's REM04PRO Bond Issue rejected the terms of the proposed refinancing. The Company has noted speculation in the media regarding the identity of the bondholders in REM04PRO. The Company has been made aware during the negotiations that Aker Capital AS ("Aker") holds a sufficient number of bonds in REM04PRO to block the proposed restructuring. The Company has subsequently been informed that Aker did not vote to support the restructuring.

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For more information, please contact:

Åge Remøy (chairman), +47 70081164 / +47 90591292

Arild Myrvoll (CEO), +47 70080894 / +47 90014188

Ola Beinnes Fosse (CFO) +47 70081160 / +47 97531227

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: REM Offshore ASA via Globenewswire

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