Prosafe SE: Update on the court case between Prosafe and Westcon

Reference is made to press release dated 12 May 2021 in which Prosafe informed that Prosafe had decided to address the perceived shortcomings of the judgement by the Gulating Court of Appeal through an appeal to the Supreme Court.

The Supreme Court have today decided not to accept the appeal. As such the judgement by the Gulating Court of Appeal is final.

The Gulating Court of Appeal decided that Prosafe had to pay Westcon NOK 302,510,457 plus interest and legal costs, in total about NOK 465 million related to the conversion of the Safe Scandinavia at Westcon yard.

Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to https://www.prosafe.com

Stavanger, 27 August 2021

Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO
Phone: +47 478 07 813

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Cecilie Helland Ouff Senior Manager Corporate Finance and Treasury at Prosafe on 27 August 2021 at 16:00 CEST.