NAUT Nautilus Marine Services Plc

TIDMNAUT

RNS Number : 3363H

Nautilus Marine Services PLC

12 March 2018

Immediate Release 12 March 2018

NAUTILUS MARINE SERVICES PLC

(the "Group" or "Nautilus")

DISPOSAL OF TWO OFFSHORE SERVICE VESSELS AND DIVE EQUIPMENT

Nautilus (AIM: NAUT), the Group that is focused on making strategic investments in service providers, technologies, and assets to offer integrated and innovative solutions for multiple offshore industries, today announces that it has sold two of its offshore service vessels and certain of its dive equipment in three separate transactions. These non-strategic assets were acquired in February 2017 and had a combined cost basis of US$120,000 at the time of the disposals, resulting in a gain of US$541,000. In accordance with its current policy, the Group will continue to assess opportunities to sell selected offshore assets at a premium to their initial cost as and when presented.

John Payne, Managing Director of Nautilus, commented: "Having identified the opportunity to move into the offshore service industry, Nautilus moved to acquire a fleet of vessels in late 2016 at the bottom of the oil price cycle. This disposal validates that approach and the judicious nature of our acquisition. It also demonstrates our ability to move quickly to monetize our assets. The remaining vessels are currently laid-up and we continue to monitor the macro-economic environment with a view of recommissioning the fleet to provide maximum economic benefit for all of our stakeholders."

Enquiries:

 
 Nautilus Marine Services PLC 
 nautilusirinfo@nmsplc.com 
 www.nautilusmarineplc.com 
 
 finnCap Ltd 
 Christopher Raggett/Scott Mathieson/Kate    +44 (0) 20 7220 
  Bannatyne (Corporate Finance)                         0500 
 Emily Morris (Corporate Broking) 
 
 Yellow Jersey 
                                                +44 (0) 7710 
 Tim Thompson/ Henry Wilkinson                       718 649 
 

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