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Trico Marine Faces Shareholder Unrest

Wed, 24 Dec 2008 18:19:00 GMT

Trico Marine Services Inc. (NDAQ: TRMA) directors may be forced to fight for their job after an activist shareholder opposition to the company’s current plans. Kistefos AS, which owns a 22% stake, wrote a letter to the board expressing its disappointment about the extraordinary loss in value since the company emerged from bankruptcy in 2005. “I write today to express our deep concern about the extraordinary loss in value of the company’s shares and about the current operations, direction, management and governance of the company,” said the hedge fund in a letter. “Nevertheless, we believe that there is significant inherent value in the company and we wish to work with management and the Board of Directors to help restore it.” Kistefos believes that the first step in unlocking this value is to replace the[More...]

NASDAQ Technical Picture - Testing Trendline

Tue, 27 May 2008 16:10:21 GMT

The strength in the Subsea Services and Subsea Trenching and Protection divisions shown in the second quarter, continued into the third quarter.

Chairman and Chief Executive Officer, Joseph S. Compofelice, commented, "The strength of our third quarter results reflects the strong performance by our subsea services divisions, DeepOcean and CTC Marine.

[More...]

Trico Reports Favorable Second Quarter Results On Growth of Subsea Services Business

Thu, 30 Jul 2009 00:58:00 GMT

Trico Marine Services, Inc. today announced its financial results for the second quarter of 2009 of revenues of $180 million, adjusted EBITDA of $31 million and adjusted net income of $0.33 per diluted share. The increases over first quarter of 2009 were due to substantial growth and improvement in the Company's subsea service businesses.[More...]

Trico Marine Services, Inc. Announces Second Quarter 2009 Earnings Conference Call Information

Mon, 13 Jul 2009 20:56:00 GMT

Trico Marine Services, Inc. today announced plans to report earnings for the second quarter ended June 30, 2009, on Wednesday, July 29, 2009 after the close of markets in the United States. The Company will conduct a conference call at 8:30 a.m. ET on Thursday, July 30, 2009, to discuss the results with analysts, investors and other interested parties. Individuals who wish to participate in the conference call should dial 437-9364, access code 8947026, in the United States or 457-2654, access code 8947026, from outside the country.[More...]

Trico Marine Announces Certified Voting Results of 2009 Annual Meeting

Wed, 24 Jun 2009 18:55:00 GMT

and voted against electing to the Trico Board of Directors the Kistefos nominees, Christen Sveaas and Age Korsvold. Stockholders also voted against several related proposals made by Kistefos, including one that would have expanded the Board.[More...]

Trico Marine Stockholders Re-Elect Company's Director Nominees

Wed, 10 Jun 2009 14:46:00 GMT

Kistefos Director Nominees Rejected by Trico Stockholders[More...]

Kistefos Comments on Trico Marine Services Annual Meeting

Wed, 10 Jun 2009 13:43:00 GMT

Kistefos AS, the largest stockholder of Trico Marine Services, Inc. (NASDAQ: TRMA), announced today that it had received overwhelming stockholder support for its proposed Board of Director nominees and corporate governance proposals at Trico’s Annual Meeting of Stockholders. The preliminary results show that:[More...]

Kistefos Cites Turnaround at Scorpion Offshore as a Model of Constructive Role It Could Serve at Trico Marine

Mon, 08 Jun 2009 19:45:00 GMT

Kistefos AS today asked stockholders of Trico Marine Services Inc., (NASDAQ: TRMA), an integrated provider of subsea, trenching and marine support vessels and services, to consider the recent events at Scorpion Offshore Ltd. when determining whether to support Kistefos’ Board nominees and governance proposals at Trico’s upcoming June 10, 2009 Annual Meeting of Stockholders. Kistefos believes its active involvement at Scorpion serves as an effective example of the substantial value it can bring to companies in turnaround situations, and what can be achieved when a company, its board and major shareholders collaborate.[More...]

Kistefos Notifies Trico Marine Stockholders That Maritime Administration Declares All Known Jones Act Issues Resolved

Mon, 08 Jun 2009 13:25:00 GMT

Kistefos AS announced today it has sent the following letter to Trico Marine Services, Inc. (NASDAQ: TRMA) stockholders, notifying them that the U.S. Maritime Administration (Marad) has clarified its earlier communication on Jones Act issues related to Kistefos’ stockholder proposals. In a letter to both parties, Marad states that its previous concerns about Jones Act issues have been assuaged or eliminated, and that it considers all known Jones Act issues “resolved.”[More...]

Trico Marine Urges Stockholders to Reject the Kistefos Proposals

Mon, 08 Jun 2009 09:55:00 GMT

Trico Marine Services, Inc. reminds all stockholders to vote on the WHITE proxy card today in support of the Company's independent and experienced directors, a strategy that makes sense, and a Board that has an unwavering commitment to enhancing stockholder value.[More...]

Kistefos Urges Trico Marine Stockholders to “Act Now” and Vote the BLUE Card for Kistefos Nominees and Proposals

Fri, 05 Jun 2009 18:14:00 GMT

Kistefos AS announced today it has sent the following letter to Trico Marine Services, Inc. (NASDAQ: TRMA) stockholders, urging them to support Kistefos’ Board nominees and other proposals at Trico’s upcoming Annual Meeting of Stockholders on June 10, 2009.[More...]