GEOS Refinancing successfully completed

The company has today successfully completed refinance, have taken title of the two state of the art vessels Energy Empress and Energy Duchess and looking forward to actively seek further growth opportunities together with the backing of its new strong financial partner Oaktree

Share this with friends!

We are very pleased to send this stock exchange announcement today:

Ålesund, 27 July 2022:

With reference to the stock exchange announcements of 23 June, 15 July and 20 July, Golden Energy Offshore Services AS (“GEOS” / “the “Company) is pleased to inform that the refinancing and closing of the transaction was completed today. The Company has paid the balance payment to ROC against transfer of title to the MPSVs Energy Empress and Energy Duchess and repaid the Bridge Loan. The Company has also fully drawn the working capital facility under the Facilities Agreement previously reported signed.

The Company has delivered the warrants resolved at the Extraordinary General Meeting held 13 July 2022 to the respective warrant holders. The conditions for the additional remuneration to the Company’s board of directors resolved at the Annual General Meeting held 10 June 2022 are also satisfied and it is expected that the directors will shortly subscribe for the shares in the Company as described in the minutes from the Annual General Meeting.

The Company will shortly summon an Extra Ordinary General Meeting to resolve a supplement to the Board of Directors because the lender under the Facilities Agreement shall have one member of the board of directors of GEOS.

Through the successful refinancing GEOS is now positioned for taking advantage of the positive development of the offshore oil & gas and renewable market the Company’s four vessels are operating in. The Company will also actively seek further growth opportunities with the backing of its strong financial partner Oaktree.

More information about this vessel

General information
Vessel type:
Built by:
Port of registry:
Build year:
Break horse power:
Call sign:
IMO number:

Please feel free to contact us if you need any further information.

Per Ivar Fagervoll
Chief Executive Officer