TransAtlantic: Organizational Restructuring of Viking Supply Ships

Regulatory News:

TransAtlantic (STO:RABTB):

In order to remain competitive and meet the weak offshore supply market, the management of Viking Supply Ships A/S (VSS) has proposed a new organizational structure for the Danish-based offshore supply company.

VSS has its head office in Copenhagen and additional site offices in Kristiansand (Norway), Gothenburg (Sweden) and Moscow (Russia). The proposal is now to centralize all support functions as well as operational management at the head office in Copenhagen with effect from July 1, 2013.The purpose is to achieve a lean and efficient VSS organization tailored for operations in the North Sea and Arctic regions.

The Kristiansand office will proceed as a commercial office and the Gothenburg office will be closed. Consequently, approximately 20 positions are expected to be made redundant in the Gothenburg and Kristiansand offices. New positions will be made available in the Copenhagen office and staff from the Gothenburg and Kristiansand offices will be encouraged to apply for these positions. Altogether, it means a net headcount reduction of 10-12 positions in the VSS organization. In the next few weeks, VSS will consult employee representatives and unions in order to finalize the specific structure of the new organization.

The suggested changes in the organization will not only reduce overhead costs, but also improve productivity, leading to higher profitability at the same service level. The high focus on quality and safety remains and will ensure that the restructuring does not compromise on these matters.

The seafarers will not be affected by these changes.

Rederi AB TransAtlantic is a leading Swedish shipping company with headquarters in Gothenburg, Sweden and additional offices in Europe. The company is organized into two business areas: Viking Supply Ships and Industrial Shipping. Viking Supply Ships core business is within the offshore and icebreaking segment on a world-wide basis. Industrial Shipping provides shipping- and logistics solutions in the Baltic Sea and the northern Europe. The company has about 850 employees and the turnover in 2011 was MSEK 2,989. The company’s B-shares are listed on the NASDAQ OMX Stockholm, Small Cap segment. www.rabt.se

TransAtlantic is obliged to make this information public according to the Financial Markets Act and/or the Financial Instruments Trading Act (Sw: lagen om värdepappersmarknaden and lagen om handel med finansiella instrument). The information was submitted for publication on January 21, 2013 at 01.30 p.m.

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