Hermitage Offshore Announces Withdrawal of Appeal of NYSE Delisting Procedures

Hermitage Offshore Services Ltd. announced its decision to withdraw its appeal of the New York Stock Exchange’s (the “NYSE”) determination to de-list the Company’s common shares. Trading of the Company’s common shares on the NYSE was suspended on September 23, 2020 pending the appeal of the de-listing determination. The Company’s common shares currently trade on the OTC Pink marketplace operated by the OTC Markets Group Inc.

Following the previously announced results of the Chapter 11 auction bid process, the Company determined that it would be unable to meet the continued NYSE listing standards upon the completion of the bankruptcy proceedings and that the continued pursuit of the NYSE listing appeal was not in the best interests of the Company, its shareholders or creditors.