Prosafe SE: Prosafe files a counter-appeal in the TSV Safe Scandinavia conversion court case

Reference is made to press release dated 19 April 2018 in which Prosafe informed that Westcon had appealed the court judgement regarding the TSV Safe Scandinavia conversion. Prosafe informs that the company has filed a counter-appeal today.

On 8 March 2018, Stavanger City Court issued its judgement in favour of Prosafe in respect of the dispute between Westcon Yards AS (Westcon) and Prosafe relating to the conversion of the Safe Scandinavia into a tender support vessel. The Court decided that Westcon must pay Prosafe NOK 344 million plus interest and NOK 10.6 million legal costs.

Prosafe will continue to defend its case in order to maintain or improve on the result in the first instance.

Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The Company is headquartered in Larnaca, Cyprus and listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com

Larnaca, 28 May 2018
Georgina Georgiou, General Manager
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Prosafe Management AS
Phone: +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO
Prosafe Management AS
Phone: +47 51 64 25 17 / +47 47 80 78 13