Reference is made to the earlier information provided about the ongoing financial process with the lenders, including the press release published on 10 November 2021. The Norwegian register of business enterprises (Nw: Brønnøysundregisteret) today confirmed that reduction of the nominal value per share from EUR 0.1 to EUR 0.05 has been registered. The reduction is in accordance with the extraordinary general meeting in the Company held 27 September 2021. Prosafe continues to anticipate that the
Prosafe has signed a further contract extension with Petrobras Netherlands B.V. (‘Petrobras’) for the provision of the Safe Notos semi-submersible vessel for safety and maintenance support offshore Brazil. The original three years and 222-day firm period was due to complete in July 2020, had previously been extended through to mid-November 2021 and this further extension will take the firm operational period through to mid-July 2022. Total value of the contract extension is approximately USD 16.
(Figures in brackets refer to the corresponding period of 2020) EBITDA for the third quarter was USD 12.5 million (USD 1.2 million negative), reflecting a high activity level with a fleet utilization rate of 70.9 per cent (16.4 per cent). The liquidity reserve was USD 107.1 million at the end of the quarter. Several contract extensions and two new contracts were secured. As informed in previous press releases, the financial restructuring process is on track with formal support from all lenders.