STX Europe Releases Clarification Announcement on Potential Sale of Its Shares (Norway)

January 18, 2012

STX Europe refers to the recent comments in the media about a potential sale of its shares in STX OSV Holdings Limited. The media comments will need to be addressed in market disclosure by the Company under applicable rules for SGX-ST listed companies.

In order to ensure that consistent information is provided by the STX Europe group of companies, STX Europe AS confirms that the company as part of its ordinary course assessment of available strategies is exploring the viability of a sale of shares in the Company, and that it has retained JPMorgan Chase Bank, N.A., Hong Kong Branch and Standard Chartered Securities Korea Limited in connection therewith. However, at this juncture STX Europe emphasizes that there is no certainty that a sale of shares in the Company will take place.

STX Europe will update this information in the event of any significant developments.

STX Europe AS, an international shipbuilding group which aims to be the leading builder of cruise vessels, ferries and other specialized vessels. STX Europe AS is also the majority shareholder in STX OSV Holdings Limited listed on the Singapore Exchange (SGX). The group has a strong position in terms of developing state-of-the-art concepts, technology, processes and products for customers around the world. STX Europe comprises 6 shipyards in Finland, France and Norway in addition to 9 shipyards belonging to STX OSV Holdings Limited. STX Europe Group has approximately 14 000 employees.

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Shipbuilding Tribune Staff, January 18, 2012; Image: stx