Oceanteam ASA announces that the Company has reached agreement with the management through their shareholdings in minority shareholder My Power Ltd, on a management buyout of its Oceanteam ASA's shareholding in Imera Ltd. The transaction will not have any material effect on Oceanteam's liquidity position but the agreement provides for recovery of investments to date in case of financial completion of the offshore power cable grid projects which Imera Ltd. is working on.