Monday, June 25, 2012


STX OSV: Small announcement, likely to be non-material to grp. Announced that it has strengthened its technology and engineering competence via a 70% purchase in Brevik Partners AS, at a consideration of NOK3.75m. Brevik Partners AS is is an engineering co, specializing in offshore technology and equipment. Separately, STX OSV Brevik Holding AS has also acquired 34% shareholding interest in Brevik Technology AS at a consideration of NOK0.8 m. Brevik Technology AS is a co with special technical knowledge in tank and tank designs. Both transactions were funded by internal resources and did not have any material impact on the earnings per share and net tangible assets per share of the Company.

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