STX OSV / VARD

STX OSV / VARD: STX OSV will adopt a new brand name VARD, following the sale of STX Europe's majority stake in the co to Fincantieri Oil & Gas, which is now the new parent co. VARD is derived from the Norwegian word "varde", which refers to a small tower of stones used since ancient times as a navigation mark along the coast to guide ships. The name embodies the Company’s maritime heritage and long history in shipbuilding. A proposal for the new name for the listco will be formally tabled for resolution at the upcoming in AGM in Apr.