Kistefos sells off more shares of Trico

By Lisa Kerner

Charlotte, N.C., Aug. 23 - Kistefos AS disposed of an additional 11,625 shares of Trico Marine Co. stock between Aug. 17 and Aug. 22 for a total of $343,546.92, according to a schedule 13D filing with the Securities and Exchange Commission.

The investor reported the sale of 25,000 shares on Aug. 15 and Aug. 16.

Kistefos retains a 20% stake in the company, owning 2,915,800 shares.

A stock purchase agreement between the investor and Trico is in effect from Aug. 9 until Trico acquires $20 million worth of shares from Kistefos, Trico ends the repurchase program, or Kistefos ceases to hold any Trico shares.

On July 31, Trico said Kistefos agreed in principal to participate in the company's approved stock repurchase program. Kistefos' agreement assures the company's compliance with federal law limiting foreign ownership of Trico common stock to 25%.

Trico Marine is a Houston-based provider of marine support services to the oil and gas industry.

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