Aqualis Offshore Holding ASA : Successful listing on Oslo Børs

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Oslo, 13 August 2014

Aqualis Offshore Holding ASA ("New Aqualis", together with its subsidiaries the "New Aqualis Group") is pleased to announce its successful listing on Oslo Børs with the commencement of trading in AQUA shares today.

The New Aqualis Group consists of three business units with largely similar service offerings and business models; Aqualis Offshore Ltd and its subsidiaries ("Aqualis Offshore Group"), Tristein AS ("Tristein") and Offshore Wind Consultants Ltd ("OWC"). The services provided by the three business units can generally be divided into marine & engineering consultancy services.

Targeting the offshore oil & gas industry and the offshore renewables industry,
the New Aqualis Group`s strategy is to operate through a growing network of global offices. The group`s multi-disciplinary marine & engineering consultancy teams are recognized in the industry for their competence and experience, and works closely with clients to understand their requirements, identify solutions and to execute their projects and marine operations in a timely, cost effective and safe manner. The New Aqualis Group is operating globally from the following locations; Norway, USA, Mexico, Brazil, UK, Saudi Arabia, UAE, Bahrain, Singapore and China.

Aqualis Offshore Holding ASA`s name change to Aqualis ASA is expected to be registered in the Norwegian Register of Business Enterprises subsequent to Aqualis ASA`s name change to Weifa ASA, expected on or about 20 August 2014.

The executive management team of the New Aqualis Group consists of the following:

David Wells, CEO
David Wells is a Master Mariner and has more than 30 years of experience in the offshore sector with particular focus on offshore operations, MWS and marine consultancy. He is a specialist on jack-up operations, location approvals and all aspects of rig moving.

Christian Opsahl, CFO
Mr. Opsahl has been the CFO of Aqualis ASA since November 2013, and has extensive international finance, investment banking and private equity experience within the global financial markets, together with industrial experience from companies servicing the offshore oil & gas markets.

Dr. Bader Diab, Director of Engineering and North America
Dr. Diab is a structural and global performance engineer. He has 25 years offshore engineering global experience covering both shallow and deep water sectors with extensive structural design experience of MODUs, mooring systems, motions, installation engineering and familiarity with shipyards.

Phil Lenox, Director of Asia Pacific
Mr. Lenox is a structural engineer and has over 40 years of onshore/offshore experience with both contractors and consultancies including conceptual design, detailed structural analysis and design through to construction and installation. He specialises in transportation and installation projects including use of HLVs, topside floatovers and has extensive MWS experience.

Dr. Andrew Theophanatos, Director of South Americas
Dr. Theophanatos is a naval architect with over 30 years of experience in offshore engineering and project management around the world and latterly in Brazil. He specialises on offshore engineering projects in both consultancy and MWS capacities for services related to all recent deepwater field development projects.

Reuben Segal, Director of Middle East
Mr. Segal has almost 20 years` experience in the offshore and shipping sectors covering both engineering design and ship surveying. He is a naval architect, and has extensive recent global business development experience with focus on design and construction of offshore oil & gas assets, including MODU and MOPU units from FEED through to yard delivery.

Santosh George, Group QHSE Manager
Mr. George is a specialist QHSE consultant and auditor with extensive risk analysis experience covering shipyards and offshore assets together with implementation of Group Management systems and ISO accreditations.

Bjørn Håvard Brænden, Director of Norway
Mr. Brænden has more than 20 years of experience in engineering and offshore sectors. He has specialized in design and worked as project manager for projects involving ships, semi submersibles, offshore service vessel, tankers and conversions to FSU/FPSO including offshore construction and marine installation. The last ten years, he has been heavily involved in business development and played a key role in building up several companies.

Torbjørn Rogde, Managing Director of Tristein AS
Mr. Rogde held various positions in the navy until 2001 when starting as International Product Manager AMOS Academy and later continued as HR manager in Grieg Logistics from 2002 to 2006. Until taking the position as Managing Director of Tristein AS, he was running his private company, supporting development of HSEQ systems and conducting management and leadership training for seafarers.

Ian Bonnon, Managing Director of Offshore Wind Consultants Ltd
Mr. Bonnon has over 30 years of experience in the offshore wind, oil & gas, marine & subsea cable industries. He is a specialist in provision of consultancy services to offshore wind farm developers and investors for full life cycle of projects.

For more information about the New Aqualis Group, see attached company presentation and the prospectus dated 12 August 2014.

Carnegie AS acted as sole financial advisor to Aqualis Offshore Holding ASA in connection with the listing process.

Contacts:
Christian Opsahl
CFO
+47 901 101 53
christian.opsahl@aqualis.no

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Important information:

The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).

This release is an announcement issued pursuant to legal information obligations, and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assumes any responsibility in the event there is a violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Managers are acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to any other matter referred to in this release.

Forward-looking statements:
This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company`s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

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Aqualis Offshore Holding ASA - company presentation 130814

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aqualis Offshore Holding ASA via GlobeNewswire
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