Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. – Financial process on track
Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. – Financial process on track

Prosafe SE and subsidiary company Prosafe Rigs Pte. Ltd. – Financial process on track

Reference is made to the earlier information provided about the ongoing financial process with the lenders, the latest in a press release dated 16 July 2021 to Prosafe SE’s and Prosafe Rigs Pte. Ltd.’s (“PRPL”) applications for leave of the Singapore Court to convene meetings of its creditors to vote on proposed schemes of arrangement pursuant to section 210(1) of the Singapore Companies Act in HC/ OS 711/ 2021 and HC/ OS 712/2021 (the “Convening Applications”).

At the Convening Applications hearing today, the Singapore Court granted the Convening Applications in full. Among other things, the Singapore Court made the following orders:

1. Leave be granted to Prosafe SE and PRPL to convene the Scheme Meetings pursuant to Section 210(1) of the Singapore Companies Act, for the purpose of considering and, if thought fit, approving (with or without modifications) the Schemes proposed to be made between Prosafe SE or PRPL and their respective Scheme Creditors;

2. The Scheme Meetings be convened on or before 10 weeks from 2 August 2021;

3. In the event that the Schemes are approved (with or without modifications) by the Scheme Creditors, on the satisfaction of the conditions set out in the Singapore Companies Act, Prosafe SE and PRPL be at liberty to apply to the Singapore Court, by summons in the proceedings, that the Schemes be approved by order of Court so as to be binding on Prosafe SE, PRPL and on all the Scheme Creditors;

4. That Mr David Chew, c/o DHC Capital Pte. Ltd., 80 Raffles Place #43-01, UOB Plaza 1, Singapore 048624, be appointed as Chairperson of the Scheme Meetings and to report the results of the Scheme Meetings to the Singapore Court, as well as do all things necessary for the purposes of recognition in any foreign recognition proceedings, whether in Norway or any other jurisdiction; and

5. There be liberty to apply.

Prosafe SE and PRPL will make the appropriate announcements as and when there are any further material developments on the financial process and the matters above. Please monitor Prosafe SE’s website for any announcements or update on the process.

Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to

Stavanger, 2 August 2021
Prosafe SE

For further information, please contact:

Jesper K. Andresen, CEO
Phone: +47 51 65 24 30 / +47 907 65 155

Stig Harry Christiansen, Deputy CEO and CFO
Phone: +47 51 64 25 17 / +47 478 07 813

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

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