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Havfisk: HAVFISK builds new trawler

(Ålesund, February 21 2016)
HAVFISK entered into an agreement with Vard February 21 to build and equip a
combination trawler. The vessel is expected to be delivered in the beginning
of 2018. The contract value is approximately NOK 325 million.

The newbuild is financed by bank loan and will have limited effect on the
company's liquidity. HAVFISK has signed a termsheet with DNB and Nordea on
refinancing of the company's long-term liabilities, including financing of
the newbuild.

The newbuild will be a combination trawler that is able to deliver both fresh
and frozen fish. The vessel will have good catch capacity for both white fish
and shrimp, and all residual raw material will be made use of.

The contracting of a new vessel for delivery in the beginning of 2018 enables
HAVFISK to make use of regulations allowing the replacements vessels quotas
to be fished with other vessels in the company`s fleet. HAVFISK will thereby
have nine vessels in operation in 2016, which is expected to give certain
savings in operating costs.

-HAVFISK has in recent years renewed and upgraded the fleet. With this
HAVFISK will increase the efficiency and flexibility further. The new vessel
will be an attractive and modern workplace for our employees
, says CEO Webjørn Barstad.

For further information, please contact:

Webjørn Barstad, CEO +47 70 11 86 00

Eldar Vindvik, Technical Director/ Project Manager +47 70 11 86 00

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


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: Havfisk via Globenewswire


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