BOA Offshore AS
BOA Offshore AS
01/27/2022 | Press release | Distributed by Public on 01/27/2022 12:30
BOA OFFSHORE AS – INFORMATON TO BONDHOLDERS REGARDING A DECISION FROM THE ARBITRAL TRIBUNAL
Tid27.01.2022, 18:27:58
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BOA OFFSHORE AS - INFORMATON TO BONDHOLDERS REGARDING A DECISION FROM THE ARBITRAL TRIBUNAL
Reference is made to the stock exchange notice dated 31 January 2018 regarding receipt of a request for arbitration from Calexco S.a.r.l. ("Calexco") in connection with a dispute regarding an investment agreement concerning Boa IMR AS, a subsidiary of Boa Offshore AS. The arbitration proceedings took place 22 - 27 November 2021 in Oslo.
Boa Offshore AS was this afternoon notified of a successful arbitration award from the tribunal.
The unanimous award determined that Calexco's rescission of the investment agreement for Boa IMR AS was unlawful. Further, the unanimous award determined that Calexco is obligated to vote in favor of an unequal division of dividend in favor of Boa Offshore AS in accordance with the provisions set out in the investment agreement, limited to NOK 87 600 000. In addition, Calexco was ordered to pay Boa Offshore AS' litigation costs and to pay the arbitration tribunal's fees and costs.
For further information, please contact Helge Kvalvik, CEO: Tel +47 97 97 97 72
Boa Offshore AS was this afternoon notified of a successful arbitration award from the tribunal.
The unanimous award determined that Calexco's rescission of the investment agreement for Boa IMR AS was unlawful. Further, the unanimous award determined that Calexco is obligated to vote in favor of an unequal division of dividend in favor of Boa Offshore AS in accordance with the provisions set out in the investment agreement, limited to NOK 87 600 000. In addition, Calexco was ordered to pay Boa Offshore AS' litigation costs and to pay the arbitration tribunal's fees and costs.
For further information, please contact Helge Kvalvik, CEO: Tel +47 97 97 97 72