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Geir Aune News

13 Feb 2012

OIG Makes Executive Appointments

Offshore Installation Group said that Steve Preston will join the company in the position of Chief Executive Officer and John Smith will join the company as Executive Vice Chairman. Both Steve and John will take up their positions in  March 2012. Preston joins OIG from Heerema Marine Contractors where he has been Executive Vice President, Commercial & Technology for the past 12 years responsible for the Group’s worldwide commercial and business development activities. Steve  brings over 35 years industry experience to OIG with a strong background in commercial negotiations, engineering and project management. Steve is a past President and active board member of the International Marine Contractors  Association.

05 Nov 2003

Ocean Rig Releases Preliminary Results

In connection with the release of an Offering Circular today for the pending Equity Offering, Ocean Rig announces preliminary financial accounts for third quarter 2003. Ocean rig reports operating results of NOK 24.5 mill, which is the best operating results in the history of the company. Results were improved by significantly better operating performance for the company's two deep water drilling rigs, Leiv Eiriksson and Eirik Raude. The company sees improving market fundamentals based on a build up of planned deepwater development projects. Ocean Rig reports preliminary operating profits of NOK 24.5 mill (NOK -30.7 mill) for the third quarter of 2003. EBITDA for the quarter was NOK 97.7 mill (1.9 mill), and net result was NOK 65.5 mill (NOK -145.7 mill).

22 Oct 1999

NCL Profits Double In First Nine Months Of Year

Norwegian cruise company NCL Holding ASA said on Wednesday pre-tax profits almost doubled in the nine months to September 30 amid firm market sentiment and strong demand. The Miami-based company said third-quarter earnings were negatively affected by between $18 and $19 million due to accidents with two of its cruise liners and reduced demand in the Mediterranean due to the conflict in Kosovo. NCL posted pre-tax profits before extraordinary items of $36.18 million between January and September, up from $18.6 million in the same year-ago period. Operating profits edged lower to $64.3 million from $65.7 million, while revenues grew by 13 percent to $651.8 against $575.4 million.

06 Dec 1999

NCL Turns Down Carnival's $1.7B Takeover Bid

NCL Holding ASA flatly rejected a 30 crown ($3.72) per share takeover offer from Carnival Corp, saying it undervalued the group's potential. NCL Chairman Kristian Siem, who controls 14.9 percent of the Miami-based cruise company, said it would be a "waste of time" to even meet Carnival given the offered price. "To meet based on a price level of 30 crowns is a waste of time," Siem said. "It's very pleasant that Carnival values NCL, and this confirms that the company is fully able to survive on its own," he said. "The offer also represents a significant discount in relation to the pricing of other companies in the cruise industry," the board said.

17 Dec 1999

NCL Shares Fall As Star Cruises Buys Stake

Shares in Norwegian cruise operator NCL Holding ASA fell six percent early last Wednesday after Singapore's Star Cruises bought a 20.6 percent stake but said it did not plan to bid for the entire company. NCL, which is currently the target of a hostile takeover from U.S. cruise giant Carnival Corp., said it had asked to meet Star to discuss possible options. "NCL has asked for a meeting with Star to map out what options the acquisition holds, compared with other possibilities the company is working on," NCL said. Star and related companies have now bought 51.4 million NCL shares, corresponding to 20.6 percent of the share capital. Star said that it had no intention at present to make any offer for NCL to counter the hostile bid from Carnival Corp.

28 Jan 2000

Take That! Carnival Keeps NCL War Alive

Carnival Corp. revived a war for control of Norway's NCL Holding last Thursday with plans for a $1.3 billion offer, topping a bid by Malaysia's Star Cruises. "Carnival Corp has informed the board of NCL that Carnival is prepared to pay 40 crowns per share for NCL Holding," NCL said in a statement. Star has offered 35 crowns per share. Carnival's planned offer would value NCL shares at about 10.6 billion crowns ($1.3 billion). Bidders will also have to assume NCL debts of about $800 million. NCL, the world's fourth biggest cruise firm, said. Carnival's planned bid was "conditional on approval by the U.S. The planned bid is an about-face for Carnival, the world's largest cruise operator.