U.S. Markets closed

GC Rieber Shipping: Claim against GC Rieber Shipping AS and GC Rieber Crewing AS dismissed

Stock Exchange Notice
Date: 2 September 2019

GC Rieber Shipping: Claim against GC Rieber Shipping AS and GC Rieber Crewing AS dismissed

Reference is made to the stock exchange announcement 27 April 2018, where it was announced that 17 former employees of GC Rieber Crewing (GCRC), whose employments were terminated when the GC Rieber Shipping Group decided to liquidate the internal crewing company GCRC, had appealed Bergen District Court’s dismissal of their lawsuit against GCRC and GC Rieber Shipping AS (GCRS).

Gulating Court of Appeal has today ruled in favor of GCRS and GCRC, with each of the parties being liable for their own legal costs. The ruling may be appealed within one month.

For further information, please contact:
Einar Ytredal, CEO, phone: +47 975 20 184

About GC Rieber Shipping:
GC Rieber Shipping's business within offshore/shipping includes ownership in specialized vessels, high quality marine ship management and project development within the segments subsea, ice/support and marine seismic. The group has a specialized competence in offshore operations in harsh environments as well as design, development and maritime operation of offshore vessels.

GC Rieber Shipping currently operates 11 and has direct and indirect ownership in 22 advanced special purpose vessels for defined markets within the subsea, ice/support and marine seismic segments. The company has its headquarter and a ship management office in Bergen, and an additional 50% ship management company in Yuzhno-Sakhalinsk (Russia). The Company is listed on Oslo Børs with ticker RISH.

Further information is available on the company's website www.gcrieber-shipping.com.

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.