22 February 2013

OCEANTEAM SHIPPING ASA - SHARE BUY-BACK RELATED TO EMPLOYEE INCENTIVE PROGRAM

Oceanteam Shipping has on 22 February 2013 purchased 1'951'798 own shares at NOK 4.30 per share. After this transaction Oceanteam owns a total of 2'959'324 own shares representing 9.99% of the shares in the company. The calculations are made on the basis of 29'593'259 shares in the company.

The purpose of the buy-back is to secure Oceanteam's obligations related to the share based incentive plan for executives and employees, as detailed in resolution 10 of the Annual General Meeting, held on the 31st of May, 2012. 



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, haico@oceanteam.no
CFO Torbjørn Skulstad: +47 55 10 82 40, torbjorn@oceanteam.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.