20 October 2016


Today the Norwegian-Dutch offshore service provider Oceanteam ASA appointed Wilhelm Bhn (48) as interim CFO.

Mr Bhn, who holds an MBA from Columbia University and a BA from the Johns Hopkins University, has a solid track record in corporate finance and has been involved in a number of restructurings. Mr Bhn will head the company's financial department and in particular lead the current financial restructuring process.

"I am excited to assume my new role and resulting responsibilities", says Bhn. "Oceanteam records solid performances in its shipping and solutions divisions. But its growth is restricted by a cost of capital that is too high and its lack of financial flexibility to cope with and adapt to today's market circumstances. I very much look forward to working closely with CEO Haico Halbesma and the Board of Directors and with our banks, bondholders and others parties to create a solid financial foundation for the company together to take advantage of the opportunities ahead of us."

Oceanteam will present its Q3 accounts on 10 November 2016 at 8am in the Hotel Continental in Oslo.

Also read:

"Oceanteam CEO Halbesma takes over CFO tasks"

"Oceanteam CFO Torbjorn Skulstad to leave company as of November 2016"

About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water offshore support vessels and fast support vessels. Oceanteam Solutions focus is to provide its clients with complete offshore solutions. Oceanteam ASA has been active in the industry as an offshore solutions provider for over ten years.

For more information: www.oceanteam.no

For further information about Oceanteam ASA please contact:
CEO Haico Halbesma: +31 20 53 57 570, haico@oceanteam.no
CFO Wilhelm Bhn:  +47 47 23 64 34, wilhelm@oceanteam.no

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