An unknown strategic buyer signed a share purchase agreement to acquire Oceanteam Solutions B.V from Oceanteam ASA (OB:OTS) on December 15, 2022. The transaction value is approximately ?5.1 million. The valuation has been verified by an independent business valuator as the Fair Value.

Completion of the transaction is conditional on approval by an extraordinary general meeting of Oceanteam, which will be held in January 2023 and satisfaction of certain other customary conditions. Post transaction, Oceanteam will be relieved of its last loss-making business and will have sufficient cash funds to execute on new ongoing initiatives in line with earlier announced principles of stable but growing cashflow, thereby providing value to the shareholders of the Company.