Releases - Odim ASA

(Hareid - 16 April 2010): ODIM ASA held an extraordinary general meeting today, 16 April 2010.
The minutes of the extraordinary general meeting are attached.

The Board recommends the offer from Rolls-Royce Marine AS
This statement is made by the Board of Directors (the “Board”) of Odim ASA (the “Company”) pursuant to sections 6-16 and 6-19 of Norwegian Securities Trading Act of 2007 in connection with the voluntary offer by Marine (the “Offeror”), a company which is indirectly wholly owned by Rolls-Royce Group plc (“Rolls-Royce”), to acquire all outstanding shares...

(Hareid, 26 February 2010): A contract worth about NOK 24 million has been awarded to ODIM by an international customer.
The delivery comprises two automated ODIM LARS launch and recovery systems for remotely operated vehicles (ROVs). The handling equipment is due for delivery respectively in first and second quarter 2011.

The launch and recovery systems will handle remotely-operated vehicles being used in...

The ODIM Q4 2009 presentation
The Q4 2009 presentation held at Felix Konferansesenter in Oslo on 25 February is enclosed at http://www.newsweb.no.

(Hareid, 26 February 2010): Revenues for the fourth quarter came to NOK 417.6 million, down by 37.9 per cent from the corresponding period of 2008. EBITDA was NOK 39.2 million, compared with NOK 128.7 million in the fourth quarter of 2008. Exclusive of one-off items of NOK 13 million, the EBITDA margin was 12.5 per cent, down 6.6 per cent from corresponding quarter in 2008.

Rolls-Royce today announced that it has reached an agreement with the Board of ODIM ASA to launch a voluntary cash offer for all outstanding shares of ODIM ASA.
Under the terms of the agreement, Rolls-Royce will offer NOK 45 per share in cash, which represents approximately NOK 2.120 million for the total share capital of ODIM. Rolls-Royce currently holds 15,545,634 ODIM shares, comprising 33 per cent of the...

(Hareid, 22 February 2010): ODIM ASA releases the company’s fourth quarter results 2009 on Friday 26 February 2010.
Acting CEO Arild Hatløy will present the fourth quarter result from 08:30 at Felix Konferansesenter, Bryggetorget 3, Oslo. After the presentation, there will be a Q&A session. ODIM welcomes all interested parties.

The presentation will be available on direct webcast on www.odim.com.
The...

(Hareid, 5 February 2010): A contract worth NOK 23 million has been awarded to ODIM by ”K” Line Offshore AS.
This delivery comprises two automated overhead ODIM LARS launch and recovery systems for remotely operated vehicles (ROVs). These units will be installed on two large AH12-type anchorhandling vessels to be built by STX Norway Offshore at Langsten. They are due for delivery in the third and fourth...