Prosafe SE : Prosafe SE: Potential impact from agreement between Cyprus and Eurozone countries Reference is made to the agreement of a stabilisation package between the Government of Cyprus and the Eurozone countries made public on 16 March. If the agreement is approved by the parliament in Cyprus there will be a one-off levy on deposits in Cypriot banks of 9.9 per cent on amounts of more than EUR 100,000 and 6.75 per cent on amounts smaller than EUR 100,000. Furthermore, it is proposed that the corporate tax rate is increased from 10 per cent to 12.5 per cent. At the end of business on Friday 15 March 2013, Prosafe had approximately USD 550,000 on deposit in one bank in Cyprus. If the levy is approved in its current form by the Cyprus Parliament, Prosafe will have a levy of about USD 50,000 imposed on the deposit in Cyprus. It is not expected that the change in the corporate tax rate, as currently proposed, will have a significant impact on Prosafe. Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 222.4 million in 2012 and net profit was USD 177.5 million. The company operates globally, employs 550 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com. Larnaca, 18 March 2013 Georgina Georgiou, General Manager Prosafe SE For further information, please contact: Sven Børre Larsen, Chief Financial Officer Prosafe Management AS Phone: +47 909 43 673 Cecilie Helland Ouff, Finance and IR Manager Prosafe AS Phone: +47 51 64 25 20 / +47 991 09 467 This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Prosafe SE via Thomson Reuters ONE HUG#1685953
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Prosafe SE : Prosafe SE: Potential impact from agreement between Cyprus and Eurozone countries
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