Reference is made to the stock exchange notice by Floatel International Ltd. ("Floatel") on 5 September 2011. Floatel is in the process of implementing the Amalgamation and it is expected that the Amalgamation will be completed today on or about 18:00 CET. Provided that the Amalgamation is completed today, this day will be the last day of trading in the Floatel shares on Oslo Børs as contemplated in the announcement of 5 September 2011.
For further information please contact:
Geir Sandvik, Chairman Floatel International Ltd -
Tel. +47 2195 1705; +47 9202 5318
Peter Jacobsson, CEO, Floatel International AB - Tel:
+ 46 31 352 07 00; +46 768 56 36 18
INFORMATION ABOUT FLOATEL INTERNATIONAL LTD
Floatel International Ltd. was established in 2006 to satisfy a market demand for a new generation of offshore floatels. The vision of the Company is to own and operate the most modern, safe and reliable floatel fleet in the world to meet the increased market demand. The first vessel, Floatel Superior, was delivered in March 2010 and is specifically designed for hostile environment meeting the latest North Sea regulations for year around operations. Floatel Superior is presently operating for Statoil in the North Sea. The second vessel, Floatel Reliance, is designed for medium harsh environment delivered October 2010 and commenced a 5 year charter for Petrobras January 2011. In June 2011 Floatel International placed an order with Keppel FELS for construction of a third semi submersible accommodation vessel, due for delivery early 2014.
Floatel International AB is a management company responsible for construction supervision and operational management for and on behalf of the Owner, Floatel International Ltd.