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    Reprieve for SeaBird

    Company News // November 17, 2011

    Referring to earlier stock exchange notices, seismic survey company say that, based on the ongoing due diligence process with Fugro Norway AS and the restructuring dialogue with key stakeholders, Norsk Tillitsmann ASA has granted extensions of the SBX01 RET and the SBX02 RET with a grace period of five and two business days, respectively, bringing the payment date to 23 November 2011 for both bond loans.

    The extension was given on the condition that interest and default interest will accrue pursuant to the bond agreement. The extension may be terminated at any time upon the receipt by the Bond Trustee of a written instruction from the appropriate number of the voting bonds to revoke the extension of the grace period, or a bondholders' meeting resolves to revoke the extension of the grace period.

     

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