HERMITAGE OFFSHORE SERVICES overview

HAMILTON, Bermuda, Oct. 23, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (HOFSQ:OTC) (“Hermitage Offshore,” or the “Company”) announced today its decision to withdraw its appeal of the New York Stock Exchange’s (the “NYSE”) determination to de-list the Company’s common shares. Trading of the Company’s common shares on the NYSE was suspended on September 23, 2020 pending the appeal of the de-listing determination. The Company’s common shares currently trade on the...

HAMILTON, Bermuda, Oct. 12, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (HOFSQ:OTC) (“Hermitage Offshore,” or the “Company”) announces the selection of the successful bids for the Company’s vessels pursuant to the bankruptcy procedures under Chapter 11 of the U.S. Bankruptcy Code. As part of the bid process, the Company’s lenders submitted the highest bid of approximately $80 million in aggregate for the Company’s ten platform supply vessels (the “PSVs”) and the...

HAMILTON, Bermuda, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (“Hermitage Offshore,” or the “Company”) announced today that it has received notification from the New York Stock Exchange (“NYSE”) that the Company’s common stock has been suspended from trading on the NYSE as it has fallen below the NYSE’s continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at...

HAMILTON, Bermuda, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (NYSE:PSV) (“Hermitage Offshore,” or the “Company”) announced today that it has submitted a request to appeal the delisting determination of the New York Stock Exchange (“NYSE”). As previously disclosed on the Company’s report on Form 6-K filed on August 12, 2020, the NYSE determined to initiate delisting procedures for the Company’s common shares following the Company’s voluntary petition for...

HAMILTON, Bermuda, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. and 28 of its subsidiaries including all its vessel-owning subsidiaries (collectively, the “Company”) announced today that they have filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The Company took this action following a prolonged slump in global oil prices, driven in part by the global...

HAMILTON, Bermuda, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (NYSE:PSV) (“Hermitage Offshore,” or the “Company”) announced today that it has sold its two anchor handling tug supply vessels (the “Transaction”). The Transaction was consummated when one of the Company’s direct wholly owned subsidiaries (the “Seller”) sold the Seller’s two special purpose companies (together the “Owners”), each of which owned an anchor handling tug supply vessel, to...

HAMILTON, Bermuda, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (NYSE:PSV) (“Hermitage Offshore,” or the “Company”) announced today that it has agreed to a 10-day extension of its previously announced forbearance agreement dated July 8, 2020 (the “Forbearance Agreement”) to its $132.9 Million Term Loan Facility dated January 14, 2020 (the “Term Loan Facility”) with DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ) (together, the “Lenders”) and DNB...

HAMILTON, Bermuda, July 09, 2020 (GLOBE NEWSWIRE) -- Hermitage Offshore Services Ltd. (NYSE:PSV) (“Hermitage Offshore,” or the “Company”) announced today that it has executed a forbearance agreement (the “Forbearance Agreement”) to its $132.9 Million Term Loan Facility dated January 14, 2020 (the “Term Loan Facility”) with DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ) (together, the “Lenders”) and DNB Bank ASA, as agent and security agent. While the Forbearance...