VARD HOLDINGS LTD 
By DEALINGS DISCLOSURE
1. lntroduction
1.1 The OZ Parties (defined below) refer lo lhe pre-condi!ional mandatory cash offer made by Fincantieri Oil & Gas S:p.A. ("Offeror") far ali the issued ordinary shares in the capitai of STX OSV Holdings Limited ("SOP") other !han those already owned, controlled or agreed to be
acquired by the Offeror, its related corporations and their respective nominees.1.2 As the OZ Parties are substantial shareholders of SOP, they are regarded as associates of SOP for the purposes of the Singapore Code on Take-overs and Mergers ("Code"). Accordingly, the OZ Parties are disclosing the following dealings in compliance with Rule 12.1 ofthe Code.
2. Dealings
2.1 Goldman Sachs Profit Sharing Master Trust has on 14 January 2013 sold the following shares in SOP ("SOP Shares"):
Date ofSale | 14 January 2013 |
Number of SOP Shares soJd | 291,000 |
Consideratiori per SOP Share | Please refer !o paragraph 2.8 below. |
Resultant total number of SOP Shares held | 1,990,000 |
Resultant total percentage of the SOP Shares | 0.17 per cent |
2.2 Gordel Capitai Limited has on 14 January 2013 sold the following SOP Shares:
Date ofSale | 14 January 2013 | |
Number of SOP Shares sold | 361,000 | |
Consideration per SOP Share | Please refer lo paragraph 2.8 below. | |
Resultant totalnumber of SOP Shares held | 2,470,000 | |
Resultant total percentage of the SOP Shares | 0.21 per cent. |
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2.3 OZ Asia Master Fund, Ltd. has on 14 January 2013 sold the following SOP Shares:
Date ofSale | 14 January 2013 |
Number of SOP Shares sold | 17,332,000 |
Consideration per SOP Share | Please referto paragraph 2.8 below. |
Resultant total number of SOP Shares held | 18,850,000 |
Resultant total percentage of the SOP Shares | 1.60 per ceni. |
2.4 OZ ELS Master Fund, Ltd has on 14 January 2013 sold the following shares in SOP Shares:
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2.5 OZ Eureka Fund, LP has on 14 January 2013 sold the following SOP Shares:
Date ofSale | 14 January 2013 |
Number of SOP Shares sold | 466,000 |
Consideration per SOP Share | Please referto paragraph 2.8 below. |
Re.sultant total number of SOP Shares held | 3,184,000 |
Resultant total percentage of the SOP Shares | 0.27 per ceni. |
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2.6 OZ Global Speciallnvestments Master Fund, LP. has on 14 January 2013 sold the following
SOP Shares:
Date ofSale 14 January 2013
Number of SOP Shares sold 298,000
Consideration per SOP Share Please referto paragraph 2.8 below. Resultant total number of SOP Shares held 2,044,000
Resultant total percentage of the SOP Shares
0.17 per ceni.
2.7 OZ Master Fund, Ltd. has on 14 January 2013 sold the following SOP Shares:
Date ofSale 14 January 2013
Number of SOP Shares sold 11,093,000
Consideration per SOP Share Please referto paragraph 2.8 below. Resultant total number of SOP Shares held 75,916,000
Resultant total percentage of the SOP 6.43 per cent
Shares
2.8 The aggregate consideration received by the OZ Parties far the transactions se!aut in this paragraph 2 ("Transactions") (excluding brokerage and stamp duties) is S$39,450,000.
3. Current Holding in SOP Shares
Prior to the Transactions, the OZ Parties and their concert parties, owned or controlled or had agreed to acquire an aggregate of 135,546,000 SOP Shares, representing approximately 11.49 per cent. of the total number of SOP Shares.
Following the Transactions, as at 14 January 2013, the OZ Parties and their concert parties, owned, controlled or had agreed to acquire an aggregate of 105,546,000 SOP Shares, representing approximately 8.94 per cent of the total number of SOP Shares.
The "OZ Parlies" mean (i) certain invesfment funds affilia/ed with OZ Management LP, (ii) OZ Management LP, (iiij Och-Ziff Holding Corporation, (iv) Och-Ziff Capita/ Management Group, LLC and (iv) Daniel Saul Och.
lssued by
OZ Management LP
15 January 2013
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