Philly Shipyard ASA (Oslo: PHLY)
announces that Jim Miller has been nominated to be Chairman of the
Board of Directors of Philly Shipyard. Mr. Miller previously held
this role from 2011 until 2014. This nomination is expected to be
approved at an extraordinary general meeting on February 1,
2016.
Kristian Rokke, CEO of the
Norwegian investment company Akastor, is stepping aside as Chairman
of the Philly Shipyard Board. He remarked "I am very pleased that
Jim has agreed to return as Chairman given his extensive leadership
background and familiarity with Philly Shipyard."
The remainder of the Company's
Board of Directors will remain unchanged and consists of Amy
Humphreys, Elin Karfjell, and Audun Stensvold.
Please find attached the notice of
the extraordinary general meeting, the attendance/proxy form, and
the proposal from the nomination committee. The documents will also
be available at the Company's web page at
www.phillyshipyard.com.
Biography:
Mr. Miller (b. 1955) is Executive Vice President - Americas at
Kvaerner. Prior to that Mr. Miller served as President and CEO of
Philly Shipyard from June 2008 to April 2011. Before coming to the
shipyard, Mr. Miller was President of Aker Solutions Process and
Construction (P&C) Americas, where he was responsible for the
operations of seven business units which generated approximately
8-9 billion NOK in revenues per year. During his tenure, Aker
Solutions P&C Americas became a leading provider of global
engineering and construction solutions with 7,500 employees,
including 4,500 construction trades personnel. Prior to joining
Aker Solutions P&C Americas, Mr. Miller held the position of
President of Aker Construction, Inc., which was one of the largest
union construction companies in the North America and was
recognized as one of the largest employers of the union
construction trades. Mr. Miller is a Director and Officer for all
remaining Kvaerner U.S. based legal and operating entities. Mr.
Miller currently serves as Board Director of Matrix Services Inc.
based in Tulsa, Oklahoma which is a public company listed on the
Nasdaq Exchange. Mr. Miller previously served as Chairman of the
Board for Philly Shipyard ASA from June 2011 to April 2014. Mr.
Miller graduated from the University of Edinboro in Pennsylvania
with a BA. Mr. Miller is a resident of Pittsburgh, Pennsylvania and
is a U.S. citizen.
For more information on Philly
Shipyard, please visit www.phillyshipyard.com.
About Philly Shipyard:
Philly Shipyard is a leading U.S. commercial shipyard constructing
vessels for operation in the Jones Act market. It possesses a
state-of-the-art shipbuilding facility and has earned a reputation
as the preferred provider of oceangoing merchant vessels with a
track record of delivering quality ships. Philly Shipyard is listed
on the Oslo Stock Exchange and is majority-owned by Converto
Capital Fund, which in turn is majority-owned by Aker ASA. Aker is
a Norwegian industrial investment company that creates value
through active ownership. Aker's investment portfolio is
concentrated on key Norwegian industries that are international in
scope: oil and gas, fisheries and biotechnology, and marine assets.
Aker's industrial holdings comprise ownership interests in Aker
Solutions, Kvaerner, Det norske oljeselskap, Aker BioMarine, Ocean
Yield, Havfisk and Akastor.
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.