Wednesday, September 28, 2016

Go after the offshore merger – Today’s Business

the oil service sector

Rem Offshore ceo Arild Myrvoll resigns immediately after the annual meeting.

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Managing director Arild Myrvoll has terminated its position in Rem Offshore ASA, announced the company Wednesday.

“Myrvoll will, by agreement with the board of directors of the company resign from his position immediately after it is held an extraordinary general meeting, the 10. October 2016″, it is called.

The crisis-hit offshorerederiet was in July finally agreed with Kjell Inge Røkke, Aker and Solstad Offshore about a merger.

Myrvoll go of voluntarily, informs the company’s chairman of the board Åge Remøy, to the DN.

His work task is of course very changed when Rem becomes part of Solstad. It is the background that he has said up, ” says Remøy.

I have no other comment than that he has done a very good job in the last 10 years. I wish him good luck for the future, ” he says.

- Still positive

Myrvoll grunngir also the decision with that the company he was set to direct, are now being significantly changed, and his tasks are different.

He has, however, faith in the merger with Solstad Offshore.

I’m still positive to Solstad, and believe Rem and Solstad will have a wonderfully good organization. With Aker their knowledge about the capital market, I am sure they will succeed and be a good company, ” says Myrvoll to Sysla.no.

Røkke-coup

Myrvoll will be available for the company in the time until completion of the merger, in order to contribute to the merger between the two companies may be carried out as smoothly as possible, according to Wednesday’s message.

the Backdrop for the merger was a major restructuring of Rem Offshore at the end of June.

In the middle of July it was clear that the Kjell Inge Røkke controlled Aker had bought into one of the Rems bond issue and voted down the necessary changes in the obligasjonslånsavtalen.

In practice, blocked Aker and Røkke thus, the proposed redningsplanen for Rem. Thus the road was open for a merger with Aker-controlled Solstad Offshore, to big protests from Rem Offshore-founder and chairman of the board Åge Remøy.

Remøy asked several requirements in order to go on a merger, including that retains a significant proportion of the voting shares after a merger, and that he gets to nominate a board member.

Secured further activity

Solstad Offshore, ceo Lars Peder Solstad was happy that the company agreed with Rem Offshore for a merger.

- We have agreed on an industrial solution that is good and a distribution of operation and a trade-off that all parties can rally behind, said Anders to the DN.

The merged company retains a significant business in the Remøys Fosnavåg, which will be the base for the company’s platform supply vessels.

- It was important for majoritetseieren in Rem Offshore that the agreement secured further activity in Fosnavåg, said Arild Myrvoll to DN at the time.

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