On Wednesday (Jul 27) the company successfully completed refinance, has taken title of the two state-of-the-art vessels Energy Empress and Energy Duchess and looking forward to actively seek further growth opportunities together with the backing of its new strong financial partner Oaktree
With reference to the stock exchange announcements of 23 June, 15 July and 20 July, Golden Energy Offshore Services AS (GEOS) informs that the refinancing and closing of the transaction was completed on Wednesday (Jul27). The Company has paid the balance payment to ROC against transfer of title to the MPSVs Energy Empress and Energy Duchess and repaid the Bridge Loan. The Company has also fully drawn the working capital facility under the Facilities Agreement previously reported signed.
The Company has delivered the warrants resolved at the Extraordinary General Meeting held on 13 July 2022 to the respective warrant holders. The conditions for the additional remuneration to the Company’s board of directors resolved at the Annual General Meeting held 10 June 2022 are also satisfied and it is expected that the directors will shortly subscribe for the shares in the Company as described in the minutes from the Annual General Meeting.
The Company will shortly summon an Extra Ordinary General Meeting to resolve a supplement to the Board of Directors because the lender under the Facilities Agreement shall have one member of the board of directors of GEOS.
Through the successful refinancing GEOS is now positioned for taking advantage of the positive development of the offshore oil & gas and renewable market the Company’s four vessels are operating in. The Company will also actively seek further growth opportunities with the backing of its strong financial partner Oaktree.