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2014-05-19

Aqualis ASA : Aqualis ASA to acquire Offshore Wind Consultants Limited

Oslo, Norway, 19 May 2014

Aqualis ASA (OSE: AQUA) has signed a memorandum of understanding to acquire
Offshore Wind Consultants Limited, a leading provider of consultancy services
to the offshore renewables industry.

"The acquisition of Offshore Wind Consultants offers Aqualis Offshore access
to the offshore wind and renewables industry, and we are excited to grow this
business line. In addition the combination of Aqualis Offshore and Offshore
Wind Consultants will be able to deliver enhanced services to our clients by
sharing expertise and resources, particularly where engineering and offshore
attendances are required," says David Wells, CEO of Aqualis Offshore.

Offshore Wind Consultants, based in London, England, currently engage nine
staff, of which five are full-time employees. In 2013, Offshore Wind
Consultants had revenues of over £780,000. The company has a number of
long-term contracts with a strong pipeline of secured work throughout Europe
for the remainder of 2014 and beyond.

"Aqualis Offshore's worldwide network will enable Offshore Wind Consultants to
expand our services into the global renewables market while capitalising on
the companies' shared competencies," says Ian Bonnon, Managing Director of
Offshore Wind Consultants.

Aqualis Offshore is a specialized offshore marine and engineering consultancy
firm that employs more than 125 people. Since trading started in 2013,
Aqualis Offshore has established 13 offices in nine countries throughout the
world's key oil and gas regions. Aqualis ASA recently completed the
acquisition of Tristein AS, a leading provider of marine operations for the
offshore oil, gas and wind industries.

The financial details of the transaction are undisclosed. The majority of the
final purchase consideration is expected to be settled in issued Aqualis ASA
shares, subject to an extensive lock-up period. The proposed acquisition is
subject to satisfactory financial, legal and operational due diligence, the
signing of a definite share purchase agreement and final approval by the
board of directors of Aqualis ASA.

The transaction is expected to be closed by the end of the second quarter of
2014.

*****

For further information, please contact:

Gunnar Manum
Acting CEO
+47 23 01 49 92 / +47 95 17 91 90
gunnar.manum@aqualis.no

Christian Opsahl
CFO
+47 901 10 153
christian.opsahl@aqualis.no

Aqualis ASA
is a Norwegian public company focusing on building a profitable and
successful business based on its key competences within the marine and
offshore and healthcare sectors.

Aqualis Offshore
is a specialized offshore marine and engineering consultancy firm, focusing
on the shallow and deep-water offshore segments of the oil and gas industry.
Its core services includes concept, FEED and basic design engineering for
upgrades and conversion of jack-ups, FPSOs and rigs, marine warranty
services, transportation and installation, rig moving, dynamic positioning,
construction supervision and due diligence services. The company is currently
operating out of 13 offices worldwide.

Aqualis Healthcare
is focusing on securing potential value from its patent portfolio and
licensing agreements generated by the former Clavis Pharma ASA, as well as
investigating new investment opportunities within the healthcare sector.
Aqualis Healthcare has a large portfolio of patents relating to its
LVT-technology, as well as licensing agreements for the potential development
of selected drug compounds.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aqualis ASA via Globenewswire

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