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Proposed Asset Sale

We entered into a conditional agreement to sell our vessel (Siem Daya 1) to Siem OSV for US$100 million to be satisfied via US$82.7 million cash and the balance in the form of debt waivers from both Siem Offshore Rederi AS (SORAS) and Canyon Inc. The sale is subject to the approvals of authorities and shareholders. Simultaneously, we also entered into a conditional debt settlement agreement with SORAS and Canyon.

  • 30 Mar, 2017
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