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Reference is made to press launch dated 8 March 2018 wherein Prosafe knowledgeable that the Stavanger District Courtroom issued its judgement in favour of Prosafe in respect of the dispute between Westcon Yards AS (Westcon) and Prosafe regarding the conversion of the Protected Scandinavia into a young help vessel.
The Stavanger District Courtroom determined in 2018 that Westcon should pay Prosafe NOK 344 million plus curiosity and NOK 10.6 million in authorized prices. Westcon filed an attraction, and Prosafe filed a counter attraction on 28 Could 2018.
The Gulating Courtroom of Attraction has at present determined that Prosafe shall pay to Westcon NOK 302,510,457 plus curiosity and authorized prices, in complete about NOK 465 million.
The judgement implies full fee to Westcon of the quantity claimed.
In comparison with the judgement within the first occasion by the Stavanger District Courtroom, the consequence within the Gulating Courtroom of Attraction is an entire reversal of the consequence.
A judgement from a Courtroom of Attraction is often ultimate, as the probabilities of additional attraction are very restricted.
“We pay attention to the extraordinarily disappointing and stunning judgement from the Gulating Courtroom of Attraction. It’s obscure how two courts can attain such exact opposite outcomes” , says Jesper Ok. Andresen, CEO of Prosafe.
Prosafe is a number one proprietor and operator of semi-submersible lodging vessels. The corporate is listed on the Oslo Inventory Alternate with ticker code PRS. For extra data, please seek advice from www.prosafe.com
Stavanger, 15 April 2021
For additional data, please contact:
Jesper Ok. Andresen, CEO
Telephone: +47 51 65 24 30 / +47 907 65 155
Stig Harry Christiansen, Deputy CEO and CFO
Telephone: +47 51 64 25 17 / +47 478 07 813
This data is taken into account to be inside data pursuant to the EU Market Abuse Regulation and is topic to the disclosure necessities pursuant to Part 5-12 the Norwegian Securities Buying and selling Act.
This inventory change announcement was revealed by Karine Cosemans, Senior Supervisor Government Assist and Communication at Prosafe, on 15 April at 10:18 CEST.