GulfMark Offshore, Inc. called for redemption all of
its $130,000,000 aggregate principal amount of 8.75% Senior Notes due
2008 that remain outstanding on the redemption date,August 23, 2004. The redemption price is 102.917% of the principal amount of the Notes, or $1,029.17 per $1,000 principal amount of Notes, plus interest accrued and unpaid to the redemption date.
On July 2, 2004 the Company commenced a tender offer and consent
solicitation for the Notes. On July 14, 2004, the Company received the
consent of at least a majority of the aggregate principal amount of the
outstanding Notes to amendments that eliminated substantially all of
the restrictive covenants and certain events of default in the
Indenture relating to the Notes. On July 21, 2004, the Company accepted
and paid for $104,245,000 in aggregate principal amount, representing
approximately 80%, of the outstanding Notes under the terms of the
tender offer and consent solicitation. The tender offer for the Notes
remains outstanding until 12:00 midnight, New York City time, on July
30, 2004, unless the offer is extended. Under the terms of the offer,
the Company will pay to Holders who tender their Notes in the tender
offer $1,002.90 per $1,000 principal amount of Notes, plus accrued and
unpaid interest.