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2015-04-15

DESSC: Board Approval of 2014 Financial Statements

The Board of Directors of Deep Sea Supply Plc has today approved the
consolidated financial statements for 2014.

Compared to the preliminary accounts presented on 25 February 2015, the net
result in the financial statements for 2014 is reduced from a profit of USD
2.029 mill to a loss of USD 0.896 mill. The reasons for the reduced net
result are:

- Additional impairment of a vessel owned by the Brazilian joint venture by USD 1.823 mill.
- De-recognition of deferred income tax of USD 0.614 mill.
- Increase in other expenses via a provision for write-off of receivables of USD 0.459 mill.
- Other items in total of USD 0.029 mill.
The Board has agreed to present the final audited accounts to the Annual
General Meeting on 6 May 2015.

Limassol, 15 April 2015
Deep Sea Supply Plc

This information is subject of the disclosure requirements acc. to §5-12 vphl (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: Deep Sea Supply via Globenewswire

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