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DeepOcean Board recommends acceptance of mandatory offer from Trico

Trico Marine Services, Inc. and DeepOcean ASA announce that Trico, through its fully owned subsidiary Trico Shipping AS ("Trico Shipping"), has entered into agreements to acquire 55,728,955 shares in DeepOcean, representing 51.5% of the total share capital of DeepOcean on a fully diluted basis, for NOK 32 per share. As a result of these agreements, Trico Shipping will launch a mandatory offer to acquire the remaining shares in DeepOcean, for a consideration of NOK 32 per share in cash, consistent with Norwegian law. The Board of Directors of DeepOcean recommends that shareholders accept this offer.

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