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Dof ASA (DOF.OL)

DOF.OL on Oslo Stock Exchange

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28 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Dof: Final result of rights issue and transactions by primary insiders
3:45am EDT 

Dof ASA : At the expiry of the subscription period, the Company had received subscriptions for a total of 1,059,869,852 Offer Shares .Company will use proceeds from rights issue in excess of Norwegian crowns 850 million to offer to repurchase bonds in new subordinated convertible bond with a nominal value of 1,032.5 million crowns.  Full Article

Dof gets required consents from lending banks regarding new senior loan facility
Friday, 15 Jul 2016 08:29am EDT 

Dof ASA : Received required consents from all its lending banks regarding a new senior loan facility in DOF Rederi AS of 3,8 billion Norwegian crowns ($4.54 billion) .Company's banks will as part of refinancing contribute with a 75 pct reduction of amortizations on bank facilities in DOF Rederi AS and the 50 pct-owned DOF Deepwater AS for a three year period with a total liquidity effect of 1,300 million crowns.  Full Article

Dof chairman says firm primarily aims to continue on its own
Tuesday, 28 Jun 2016 07:00am EDT 

Dof Asa : Chairman Helge Moegster told Reuters he does not plan to any initiatives with regards to consolidation in oil service shipping industry . Moegster says Dof primarily aims to continue on its own . Moegster says believes the company could see increased demand for its services in 2018/2019 Further company coverage: [DOF.OL] (Reporting By Henrik Stolen, editing by Terje Solsvik) ((terje.solsvik@thomsonreuters.com;)).  Full Article

DOF: Contract on Skandi Niterói from Petrobras
Monday, 20 Jun 2016 03:14am EDT 

DOF ASA : Gets Contract on Skandi Niterói from Petrobras . Contract is for about eight months firm and with eight months options .Contract to commence immediately.  Full Article

DOF agrees on main principles for refinancing plan
Tuesday, 7 Jun 2016 03:53am EDT 

DOF ASA : Said on Monday had agreed in-principle main principles for refinancing plan with its largest shareholder, major bondholders, and relevant banks . Parties agreed on new equity raise of up to 1.20 billion Norwegian crowns ($147.37 million) at issue price of 1.00 crown per share . Parties agreed capital increase is expected to be carried out through rights issue, whereof 750 million crowns will be pre-subscribed by company's largest shareholder Møgster Offshore AS . Said it is intended that proceeds exceeding 850 million crowns will be used to offer to repurchase bonds at price 50 pct . Parties agreed on conversion of all outstanding DOF ASA bonds in the three bonds DOF09, DOF10, and DOF11 of total 2.07 billion crowns to subordinated convertible bond at price of 50 pct of par value . Said had initiated substantial cost cutting . Said transactions are combined expected to improve company's liquidity by around 4.5 billion crowns over 5-year period, and reduce the net debt by close to 3 billion crowns . Pareto Securities AS is financial adviser to company in refinancing .Pareto Securities, DNB Markets, and Nordea Markets are acting as financial advisers in intended equity issue.  Full Article

DOF confirms equity raise will have form of rights issue
Tuesday, 7 Jun 2016 02:55am EDT 

DOF ASA :Confirms that equity raise will be carried out as a rights issue.  Full Article

DOF Subsea awarded several ROV and diving contracts
Wednesday, 1 Jun 2016 02:55am EDT 

Dof ASA :DOF Subsea has been awarded several ROV and diving contracts for the vessel Skandi Achiever in the North Sea and the North America region, securing utilization of the vessel until end-October 2016.  Full Article

Dof Q1 EBITDA down at NOK 733 million
Friday, 13 May 2016 01:29am EDT 

Dof ASA : Group operating income for Q1 totals 2.18 billion Norwegian crowns ($268 million) versus 2,52 billion crowns . Q1 operating profit before depreciation and amortisation (EBITDA) totals 733 million crowns versus 767 million crowns . The Group continues its work to reduce costs, including increasing the efficiency of work processes .The Board of Directors expects the operational EBITDA for Q2 to be in line with, or slightly below the operational EBITDA for Q1.  Full Article

BRIEF-Dof's unit signs two contracts with Schlumberger Asia Services Ltd
Tuesday, 10 May 2016 02:48am EDT 

Dof ASA : DOF's subsidiary DOF Management Australia Pty Ltd has signed two contracts withb Schlumberger Asia Services Ltd for Skandi Emerald and Skandi Giant .The contracts will start in May and have duration of 120 days + 1 x 5 weeks option.  Full Article

DOF ASA: Extension of RSV contract for vessel Geograph
Monday, 2 May 2016 03:00am EDT 

DOF ASA:Petrobras has extended the RSV contract for the vessel Geograph for 18 months.Extension is a direct continuation of the current contract and the vessel has been operating for Petrobras since March 2011.  Full Article