Key Developments: Deep Sea Supply PLC (DESSC.OL)

DESSC.OL on Oslo Stock Exchange

8.61NOK
19 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Deep Sea Supply takes delivery of Sea Triumph
Thursday, 18 Sep 2014 09:33am EDT 

Deep Sea Supply PLC:Says has on Sep. 18 taken delivery of the newbuilding Platform Supply Vessel Sea Triumph.Says Sea Triumph is a STX 05-L design built at Cochin shipyard in India.Says following delivery of Sea Triumph, Deep Sea Supply has 15 AHTS vessels and 24 PSVs in operation, in total 39 vessels.  Full Article

Deep Sea Supply PLC announces charter contracts for Sea Surfer and Sea Swan
Wednesday, 17 Sep 2014 01:00am EDT 

Deep Sea Supply PLC:Says has agreed on bareboat contracts for the charters of Sea Surfer and Sea Swan for operations in Australian waters.Says both bareboat contracts are for 270 days firm plus 6 x 1 month option.Says total value of firm part of contracts is about $11 million.  Full Article

Deep Sea Supply PLC announces charter contract for Sea Supra
Wednesday, 13 Aug 2014 08:24am EDT 

Deep Sea Supply PLC:Says that it has been awarded a contract for 140 days firm plus 1 month option with an international oil company, for the PSV Sea Supra, for operations in the Mediterranean.The vessel commenced the operations Aug. 12.  Full Article

Deep Sea Supply PLC announces Q2 2014 dividend
Wednesday, 6 Aug 2014 01:00am EDT 

Deep Sea Supply PLC:Says the board of directors has decided to re-introduce quarterly dividend payments and has declared $0.02 in dividend per share for Q2 2014.The ex-dividend date has been set to Aug. 14.The payment date will be on or about Aug. 26.  Full Article

Deep Sea Supply takes delivery of PSV Sea Surfer
Tuesday, 22 Jul 2014 05:02pm EDT 

Deep Sea Supply PLC:Says took delivery of the newbuilding Platform Supply Vessel (PSV), Sea Surfer.Says Sea Surfer is a Ulstein PX 105 design built at Sinopacific in China.Says following the delivery the company has in total 37 vessels.  Full Article

Deep Sea Supply PLC completes acquisition of 6 PSVs and 4 PSV newbuilding contracts
Wednesday, 25 Jun 2014 02:07pm EDT 

Deep Sea Supply PLC:Says it completed the transaction for the acquisition of 10 PSVs, of which 4 are currently under construction, through the acquisition of the company PSV Holding Inc.Says to date, the vessels owned by the company are Sea Falcon, Sea Flyer, Sea Tantalus, Sea Titus, Sea Tortuga and Sea Supra.Says the remaining 4 vessels under construction are expected to be delivered during 3Q and 4Q 2014.  Full Article

Deep Sea Supply PLC issues new shares
Thursday, 19 Jun 2014 10:05am EDT 

Deep Sea Supply PLC:Said issued 134 million new shares.  Full Article

Hemen Holding Ltd to increase stake in Deep Sea Supply PLC
Tuesday, 3 Jun 2014 02:51am EDT 

Deep Sea Supply PLC:Says Hemen Holding Ltd, company affiliated with Kathrine Fredriksen, director of the board in Deep Sea Supply plc has subscribed for 46,960,000 new shares in private placement in the company.Private placement is conditional upon necessary corporate resolutions by Extraordinary General Meeting in Deep Sea Supply to be held on June 17.Subject to approval by Extraordinary General Meeting of the company, Hemen Holding's affiliated ownership in the company will following this the subscription of new shares be a total of 91,543,853 shares, constituting 35.1 pct of issued share capital.In addition, Hemen Holding has, as previously announced, financial exposure to a total of 5,800,000 shares in the company under two separate TRS (Total Return Swap) agreements.  Full Article

Deep Sea Supply PLC announces results of private placement
Tuesday, 3 Jun 2014 02:50am EDT 

Deep Sea Supply PLC:Says it has completed application period for private placement after close on June 2.Company announced private placement of new shares in Deep Sea Supply plc for gross proceeds of 1,206 mln Norwegian crowns (about $200 mln) through a placement of 134,000,000 new shares at subscription price of 9.00 crowns per share on June 2.Conditional allocation of new shares was resolved by Board of Directors on June 2 and notices of such allocation will be distributed to investors on June 3.Consummation of private placement is conditional upon the Extraordinary General Meeting of the company to be held on June 17 resolving to grant the Board of Directors an authorization to issue up to 200,000,000 new shares.New shares issued in private placement will not be listed or tradable on Oslo Stock Exchange until listing prospectus for such shares has been approved by Norwegian Financial Supervisory Authority, expected to be in the beginning of July.New shares will be issued under a separate ISIN following the Extraordinary General Meeting, scheduled for June 17, and Managers will pursue a registration of new shares on over-the-counter (OTC) list in Norway until approval of prospectus and admission to trading on Oslo Stock Exchange.Pareto Securities AS, Fearnley Securities, Swedbank and Sparebank 1 Markets were joint lead managers of private placement.  Full Article

Deep Sea Supply announces acquisition of 10 PSVs and private placement
Monday, 2 Jun 2014 02:50am EDT 

Deep Sea Supply PLC:To acquire 10 PSVs for a total price including remaining CAPEX of $366 million.Total broker value for the vessels is $419 million.The PSVs are acquired through the acquisition of 100 percent of the shares in PSV Holding Inc.Will raise about $200 million through private placement to partly finance the acquisition of the vessels.The placement is fully underwritten by the company's largest shareholder, Hemen Holding Ltd.Intends to secure bank financing for about $200 million, which combined with the proceeds from the announced private placement of new shares in the Company will fully fund the transaction.PSV Holding is owned by Greenwich Holdings Ltd, an affiliated company of Hemen Holding.PSV Holding has no employees and its sole activity consists of owning these five PSVs and being ultimate buyer under five PSV newbuilding contracts.  Full Article

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