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 audited interim balance sheet to be approved by the extraordinary general meeting.

The proposed extraordinary dividend is in addition to the reduction amounts amounting to NOK 2.50 per share in the share capital reductions resolved by the general meetings on 24 May 2018 and 6 July 2018, respectively.

Further information regarding the dividend payment and key dates will be disclosed together with the notice for the extraordinary general meeting, expected to be held on or about 12 October 2018.

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For further information, please contact:
Reese McNeel, CEO, Sevan Marine ASA
reese.mcneel@magnoraasa.com

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