Press releases

New share capital and new par value of shares registered

Reference is made to the resolution by the annual general meeting on 24 May 2018 to decrease the company's share capital from NOK 210,427,996 to NOK 183,598,427 by reducing the par value of each share from NOK 4 to NOK 3.49 (the "Share Capital Reduction No. 1")....

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Key Information relating to the Teekay Offering

Reference is made to the key information announcement made by Magnora ASA (the "Company" or "Magnora") on 21 September 2018 and other announcements made by Magnora in connection with the secondary offer to be made by Teekay Service Holdings Cooperatief U.A. (“Teekay”)...

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Expiration of notice period for Share Capital Reduction No. 2

Reference is made to the stock exchange notice published by Magnora ASA (former "Sevan Marine ASA") on 7 September 2018 regarding commencement of the creditor notice period for the share capital reduction as resolved by the extraordinary general meeting on 6 July 2018...

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New company name “Magnora ASA” registered

Reference is made to the minutes from the extraordinary general meeting held today, 12 October 2018, and the related stock exchange notice whereby the general meeting in Sevan Marine ASA resolved to change the company's name to "Magnora ASA". The new company name has...

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Minutes of extraordinary general meeting

An extraordinary general meeting in Sevan Marine ASA was held today, 12 October 2018. Please find attached the minutes of the general meeting. All items on the agenda were approved, including inter alia the proposal to distribute an extraordinary dividend in a total...

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Proposed dividend

The board of directors of Sevan Marine ASA has today resolved to propose to the general meeting a distribution of an extraordinary cash dividend in the total amount of NOK 315,641,994, corresponding to NOK 6.00 per share. The extraordinary dividend will be based on an...

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Commencement of notice period for share capital decrease

Reference is made to the minutes from the extraordinary general meeting held on 6 July 2018 (the "EGM") in Sevan Marine ASA (the "Company") and the pertaining stock exchange notice, whereby the general meeting resolved to decrease the Company's share capital with NOK...

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Update regarding the Sembcorp transaction

Reference is made to the stock exchange notices published by Sevan Marine ASA (the Company) on 8 June, 6 July and 8 August 2018 regarding the transaction with Sembcorp Marine Integrated Yard Pte. Ltd. (Sembcorp) whereby a substantial part of the Company's business is...

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Update regarding timing of SembCorp and Teekay transactions

Reference is made to the press releases from June 8, 2018, June 12, 2018 and July 06, 2018, regarding the agreement to divest substantial parts of Sevan Marine’s business to Sembcorp Marine Integrated Yards Pte. Ltd. ("SCM") and the subsequent offering of Teekay’s...

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Expiration of notice period for share capital reduction

Reference is made to the stock exchange notice published by Sevan Marine ASA on 4 June 2018 regarding the commencement of the creditor notice period for the share capital reduction as resolved by the annual general meeting held on 24 May 2018. The creditor notice...

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Second quarter and first half 2018 results

Lysaker, July 10, 2018, Summary and highlights from Sevan Marine’s second quarter 2018: On June 07, 2018, Sevan Marine entered into an agreement to sell its intellectual property, shares in HiLoad LNG AS and to transfer certain other assets and obligations, including...

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Update regarding SembCorp transaction

Reference is made to the press releases from June 8, 2018 and June 12, 2018 regarding the agreement to divest a part of Sevan Marine’s business to Sembcorp Marine Integrated Yards Pte. Ltd. ("SCM"). SCM has agreed to increase its offer from USD 28 million to USD 39...

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Notice of Extraordinary General Meeting

Reference is made to the stock exchange announcement made by Sevan Marine ASA (the "Company") on 8 June 2018 with regards to that Sevan Marine has entered into an agreement to divest a substantial part of its business to SembCorp Marine. The Board of Directors of...

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Resignation of board member in Sevan Marine ASA

Board member Bjørn Sund has given notice of his resignation as a member of the board of directors of Sevan Marine ASA with immediate effect due to personal reasons. ******* Sevan Marine is a technology, design and engineering company. The company is developing,...

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Commencement of notice period for share capital reduction

Reference is made to the stock exchange announcement made by Sevan Marine ASA (the "Company") on 24 May 2018 regarding the annual general meeting for 2018 (the "AGM"). The Norwegian Register of Business Enterprises (the "NRBE") has today announced in the public...

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New board members in Sevan Marine ASA

The Annual General Meeting in Sevan Marine ASA was held on May 24th, 2018. Mr. Bjørn Sund, Mrs Hilde Ådland and Mrs Astrid Jørgenvåg were elected as new board members. Mr. Erling Øverland (Chairman), Mr. Torstein Sanness and Mrs. Kathryn Baker were re-elected as...

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Minutes from Annual General Meeting

Sevan Marine ASA has today on May 24, 2018, held its Annual General Meeting. Attached to this announcement are the minutes of the Annual General Meeting in Norwegian and translation into English.  All proposals on the agenda were approved. With respect to the...

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First quarter 2018 results

Lysaker, May 23 2018, Summary and highlights from Sevan Marine’s first quarter 2018: Adjusted EBITDA, excluding one-off items, was NOK 15.6 million, an improvement from negative NOK -4.0 million in the fourth quarter.   Operating revenue was NOK 30.8 million in...

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Nomination Committee Proposal

Sevan Marine refers to the earlier Notice of Annual General Meeting. The Annual General Meeting in Sevan Marine ASA will be held on Thursday, 24 May 2018 at 10:00 am (CET) at the Company’s offices in Lysaker Torg 12, 1366 Lysaker, Norway. Attached as appendix to this...

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ØKOKRIM concludes Brazil investigation and dismisses case

Sevan Marine refers to earlier stock exchange notices regarding the investigation into potential corruption involving contracts awarded to Sevan Marine in the period 2005 to 2008 in Brazil. In June 2015, the board of Sevan Marine ordered an independent corporate...

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Notice of Annual General Meeting

The Board of Directors of Sevan Marine ASA has convened the Annual General Meeting in Sevan Marine ASA on Thursday 24 May 2018, at 10:00 a.m. (CET) at the Company's offices at Lysaker Torg 12, 1366 Lysaker, Norway. Attached as appendices to this announcement are (in...

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