Cecon ASA board member purchases shares

After this acquisition Geir Tore Hjelle owns 301 377 shares in Cecon ASA.

Contact:
Ivar H Halvorsen, CFO, Cecon ASA
Cellular (+47) 481 32 245
E-mail ivar.halvorsen@cecon.no
 

Cecon ASA’s business is to carry out EPCI contracts in connection with installation of subsea pipelines, cables and umbilical’s on the seafloor to connect miscellaneous offshore oil and gas producing units with each other through new and existing pipelines.

The number of competitors is limited and some of the competitors are major operators in the world wide pipe laying segment. Cecon ASA’s cost base and flexibility related to short delivery times give the Group a competitive edge compared with the majors. Short delivery times will be a major competitive advantage in the future, and the Group is developing its strategy in this direction, especially on smaller projects. Advanced documentation and engineering systems combined with use of subcontractors and hired in vessels / own vessel will fulfill this strategy. The three vessels under construction will, when delivered, enable the Group to participate in larger EPCI contracts in both deep and ultra deep waters globally. The growth potential for the services rendered by the Group is regarded very interesting in the years to come.
www.cecon.no

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