Notice of agreement for sale of VOS Sugar

27 Sep 2023 08:19 CEST

Ålesund 27.09.2023

Reference is made to the announcement of 4 August 2023 in which Golden Energy
Offshore Services AS (“GEOS” or the “Company”) announced the acquisition of 5
vessels from subsidiaries of Vroon Holding B.V. (the “Fleet Acquisition). GEOS
has today entered into a memorandum of agreement (the “MoA”) with an undisclosed
buyer for the sale of the SSV VOS Sugar, one of the vessels in the Fleet
Acquisition which GEOS is in the process of completing. The MoA is subject to
satisfactory vessel inspection by the buyer. Provided that the subject is
lifted, the sale is expected to be completed in November 2023. The agreed sales
price in the MoA is EUR 15 million and when completed would represent a
substantial cash profit to the Company relative to the acquisition cost of USD
9.4 million in the Fleet Acquisition.

For further information please contact

Per Ivar Fagervoll
CEO
email pif@geoff.no
Phone +47 97428884

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