May  10, 2016

Company Update

Reference is made to press release of 3rd March 2016

Reference is made to press release of 3 March 2016, where Jacktel informed that Thomas Eik Gabestad had resigned as Managing Director of Master Marine and Director of Jacktel. Helge Ystheim has been appointed as new Managing Director and COO of Master Marine and Jacktel as from 1 August 2016. Mr. Ystheim will also replace the current MD of Jacktel, Mr. Kjetil Bollestad, who will leave the company on 31. July 2016.

Mr. Ystheim has more than 25 years of industry experience from various managerial positions, amongst other from Prosafe, Prosafe Production, KCA Deutag and Prosafe Drilling Services.

For further information, please contact:

Bjørn Eie Henriksen
Chairman Jacktel AS and Master Marine AS
Tel: +47 94 13 04 32