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Akastor ASA appointed new Investment Director

Paal E. Johnsen will take the position as Investment Director in Akastor, and will be a part of the company's executive management team. Johnsen comes from a position in DNB Markets, and has extensive experience at management and board level in various companies in industry and finance, including Carnegie ASA and Alden AS.

"Paal has a track record and experience that will be a very valuable addition to Akastors' management team." says Akastors' Chief Executive Officer Frank O. Reite. "I am confident that Paal will play a critical role in developing the many opportunities we see in Akastors' portfolio of investments going forward. I am very happy that he has agreed to take this important position in Akastor. "

Johnsen will be based in Oslo, and he will start in his position on July 1 2015 at the latest. He will report to the CEO as a member of the executive management team.

About Akastor ASA

Akastor ASA is an oilfield services investment company with a flexible mandate for long-term value creation. The company exercises active ownership combining a range of strategic, operational and financial measures to develop and unlock the full value potential of its portfolio of companies. Akastor ASA employs approximately 7,400 people.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Source: Akastor ASA

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