Vard Subsidiary Seaonics Secures Contracts For Equipment Packages

Refvik

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VARD SUBSIDIARY SEAONICS SECURES CONTRACTS FOR EQUIPMENT PACKAGES

Singapore, 23 July 2018 – Vard Holdings Limited (“VARD” or the “Company”), one of the major global designers and shipbuilders of specialized vessels, is pleased to announce that through its specialized subsidiary SEAONICS, it has secured equipment contracts for the fishing industry.

The contracts comprise complete trawl and crane packages for a series of trawlers for undisclosed customers. The total value of the contracts amounts to approximately euro 23 million.

Deliveries are scheduled in the period from 2Q 2019 to 4Q 2022.

Based in Ålesund, Norway, SEAONICS designs and manufactures specialized handling technology to support exploration and development of ocean resources. Its products are used in offshore energy, ocean harvesting and within research and exploration.

The contract has been entered into in the ordinary course of business of the Company. It is not expected to have any material impact on the earnings per share or the net tangible assets per share of the Company for the current financial year. None of the Directors or the controlling shareholders of the Company have any interest, direct or indirect, in the above contract.
 
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