Edition:
India

Akastor ASA (AKAS.OL)

AKAS.OL on Oslo Stock Exchange

7.13NOK
8:55pm IST
Change (% chg)

kr0.01 (+0.14%)
Prev Close
kr7.12
Open
kr7.00
Day's High
kr7.38
Day's Low
kr6.80
Volume
307,612
Avg. Vol
659,663
52-wk High
kr12.00
52-wk Low
kr3.52

Latest Key Developments (Source: Significant Developments)

Akastor: Restructuring Of DDW Offshore Completed
Monday, 12 Oct 2020 

Oct 12 (Reuters) - Akastor ASA ::AKASTOR ASA: RESTRUCTURING OF DDW OFFSHORE COMPLETED.FINAL AGREEMENTS CONSISTENT WITH KEY PRINCIPLES SET OUT IN RELEASE HAVE BEEN ENTERED INTO BY ALL PARTIES.EFFECTIVE FROM 9 OCTOBER 2020, AKASTOR AS OWNS ALL SHARES IN DDW OFFSHORE AS.DDW OFFSHORE AS WILL BE CONSOLIDATED INTO AKASTOR GROUP AS A SUBSIDIARY AS FROM Q4 2020.  Full Article

Akastor Q2 EBITDA Up At NOK 114 Million
Wednesday, 17 Jul 2019 

July 17 (Reuters) - Akastor ASA ::REG-AKASTOR ASA: SECOND QUARTER AND HALF YEAR RESULTS 2019.Q2 REVENUE OF NOK 1 304 MILLION IN QUARTER WITH GROWTH OF 49 PERCENT FROM PREVIOUS YEAR.Q2 EBITDA OF NOK 114 MILLION IN QUARTER.Q2 ORDER INTAKE OF NOK 1.8 BILLION IN QUARTER, RESULTING IN ORDER BACKLOG OF NOK 3.5 BILLION.  Full Article

Akastor's wholly owned subsidiary MHWirth entered into agreements with Bronco Holdings
Friday, 7 Jun 2019 

June 7 (Reuters) - Akastor ASA ::REG-AKASTOR ASA: MHWIRTH STRENGTHENS ONSHORE AFTERMARKET SERVICES THROUGH ACQUISITION OF BRONCO MANUFACTURING.AGREEMENTS ARE FORMALLY ENTERED INTO THROUGH MHWIRTH'S US SUBSIDIARY, MHWIRTH INC.BRONCO WILL BE CONSOLIDATED INTO MHWIRTH SEGMENT IN AKASTOR GROUP..AKASTOR-WHOLLY OWNED SUBSIDIARY MHWIRTH, ENTERED AGREEMENTS WITH BRONCO HOLDINGS FOR PURCHASE OF 100% OWNERSHIP INTERESTS IN BRONCO MANUFACTURING.AKASTOR- AGREEMENTS WITH BRONCO HOLDINGS IS FOR A TOTAL CONSIDERATION OF USD 31.5 MILLION.AKASTOR- AKASTOR HAS DRAWN ON ITS CREDIT FACILITY TO FINANCE THE TRANSACTION.MHWIRTH HAS PURCHASED A REPRESENTATION AND WARRANTY INSURANCE FOR TRANSACTION..AGREEMENTS WITH BRONCO HOLDINGS IS FOR A TOTAL CONSIDERATION OF USD 31.5 MILLION ON A CASH-FREE, DEBT-FREE BASIS.  Full Article

Arbitration ruling to impact Akastor's results negatively -statement
Friday, 1 Feb 2019 

Feb 1 (Reuters) - Akastor ASA ::MANAGED PRESSURE OPERATIONS PTE LTD (MPO), A FORMER AKASTOR OWNED COMPANY, HAS RECENTLY RECEIVED AN ARBITRATION AWARD FROM LONDON COURT OF INTERNATIONAL ARBITRATION (LCIA) WHEREBY MPO IS FOUND LIABLE UNDER A PROJECT ORIGINALLY INITIATED IN 2012.ARBITRATION PROCEEDINGS INITIATED IN 2016 HAVE NOW LED TO A DISAPPOINTING RESULT WHICH WILL IMPACT AKASTOR'S FINANCIAL RESULTS.MAXIMUM FINANCIAL IMPACT FOR AKASTOR IS USD 29 MILLION, OF WHICH USD 6 MILLION ALREADY HAS BEEN ACCOUNTED FOR.FINAL FINANCIAL IMPACT FOR AKASTOR IS CURRENTLY UNCERTAIN AS IT IS DEPENDENT ON INTER ALIA ENFORCEMENT OF AWARD AGAINST MPO.  Full Article