"With the exercise of warrants in the fourth quarter we saw the final pieces of Oceanteam's new, clean capital structure come together. The new capital structure will enable Oceanteam Shipping to fully leverage future growth opportunities, as already demonstrated with the investment commitments made after the end of the accounting period. The OTS designed 2000T modular carousel system will be delivered in April 2013", says CEO of Oceanteam Shipping, Haico Halbesma.
HIGHLIGHTS FOR THE QUARTER
· Revenue from operations USD 16.6 million
· EBITDA from operations is positive USD 5.9 million
· Operating profit of USD 2.2 million
· Net finance negative USD 8.9 including a one off refinancing cost of USD 5 million
· Oceanteam Shipping repaid a bond loan of NOK 503 million including interest
· The share capital was cleaned up with exercising 14.5 million warrants which was
tradable shares from 24th January 2013. Total number of shares is 29.593.259
for the company
Please find attached the complete Q4 2012 report and presentation.
About Oceanteam Shipping ASA
Oceanteam Shipping ASA (Oslo Stock Exchange: OTS) is an offshore shipping company. Its business is the owning, chartering and managing of Deepwater Offshore Construction Service - and Pipe Lay Vessels In addition Oceanteam Shipping provides complementary Engineering Services consisting of both Engineering & Design Services and Equipment to support its clients.
For more information: www.oceanteam.no
|For further information about Oceanteam Shipping ASA please contact:|
|CEO Haico Halbesma:||+31 20 53 57 570,||email@example.com|
|CFO Torbjørn Skulstad:||+47 55 10 82 40,||firstname.lastname@example.org|