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    Viking Supply Ships strengthens financial position

    Company News // November 28, 2016

    Viking Supply Ships AB has strengthened its financial position in accordance with an agreement it recently reacehd on a financial restructuring and has a announced a fully guaranteed rights issue of approximately SEK 207 million as well as a directed share issue and offset share issues together corresponding to approximately SEK 141 million.

    In summary, the Board of Directors of Viking Supply Ships has, pursuant to the authorisation granted by the annual general meeting, resolved on new share issues in the company to fulfil the conditions agreed upon with the company’s lending banks and bondholders under the previously announced financial restructuring.

    As a result of the negotiations, the subscription price is SEK 1.50 per share in all the share issues which closely connects to the market price for the company’s series B share.

    Provided that the conditions of the restructuring agreement, including the implementation of the rights issue, are fulfilled, the company deems that all material parts of the financial restructuring will be completed during the fourth quarter of 2016.

    When the restructuring has been completed, Viking Supply Ships expects to have enough liquidity to maintain business, even if the market remains weak, until 2019. The main risks and uncertainties in respect of these considerations are a continued weakening of the market conditions.

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