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Nautilus Marine Serv (NAUT)

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Monday 12 March, 2018

Nautilus Marine Serv

Disposal of Two Offshore Vessels & Equipment

RNS Number : 3363H
Nautilus Marine Services PLC
12 March 2018
 

 

Immediate Release 12 March 2018     

                                                                       

NAUTILUS MARINE SERVICES PLC

 (the "Group" or "Nautilus")

 

DISPOSAL OF TWO OFFSHORE SERVICE VESSELS AND DIVE EQUIPMENT

 

Nautilus (AIM:  NAUT), the Group that is focused on making strategic investments in service providers, technologies, and assets to offer integrated and innovative solutions for multiple offshore industries, today announces that it has sold two of its offshore service vessels and certain of its dive equipment in three separate transactions.  These non-strategic assets were acquired in February 2017 and had a combined cost basis of US$120,000 at the time of the disposals, resulting in a gain of US$541,000.  In accordance with its current policy, the Group will continue to assess opportunities to sell selected offshore assets at a premium to their initial cost as and when presented.

 

John Payne, Managing Director of Nautilus, commented: "Having identified the opportunity to move into the offshore service industry, Nautilus moved to acquire a fleet of vessels in late 2016 at the bottom of the oil price cycle. This disposal validates that approach and the judicious nature of our acquisition. It also demonstrates our ability to move quickly to monetize our assets. The remaining vessels are currently laid-up and we continue to monitor the macro-economic environment with a view of recommissioning the fleet to provide maximum economic benefit for all of our stakeholders."

Enquiries:

Nautilus Marine Services PLC

 

[email protected]nmsplc.com

 

www.nautilusmarineplc.com

 

 

 

finnCap Ltd

 

Christopher Raggett/Scott Mathieson/Kate Bannatyne (Corporate Finance)

+44 (0) 20 7220 0500

Emily Morris (Corporate Broking)

 

 

 

Yellow Jersey

 

Tim Thompson/ Henry Wilkinson

+44 (0) 7710 718 649

 

 

 

 


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