“We have been wanting to update shareholders for some time but have had to deal with a number of extraneous issues that were relevant to any decision to return to our Salvage programme.

That said, we can now announce that notwithstanding a highly competitive market we secured an extremely efficient salvage vessel on 22nd February 2019. We have highlighted equipment shortcomings in the recent past but, assisted by James Fisher, this vessel will carry all requisite tooling to deal with any anticipated salvage challenge on the next three planned targets.

Weather will determine the precise date of sailing and current forecasts suggest a mid-March departure is most probable.

We have also recently had a number of high level Irish and British Government contacts and we are in the process of agreeing the Terms of Engagement for operating in our preferred salvage areas, these should assist greatly in our operations in the future.

We shall report again on departure.

Philip Reid | Chairman