“The acquisition of 34.43% in New World Supply Ltd. resulted in a part ownership in six (6) medium sized sister PSV's from Damen shipyard in Holland.In October 2018 two of the vessels were sold and in April 2019 the remaining four. All the vessel were sold at signifigant higher vessel value compared to acquisition price of the shares in NWS.In July 2019, NWS proceeds with the repurchase of 98.86% of the issued ordinary shares from each shareholder. After the payment of the Redemption Price, the Redeemed Shares have been cancelled and retired by the Corporation. As a result Standard Drilling currently holds 34.43%2. In May 2020, NWS proceeds with the repurchase of the remaining outstanding shares. As a result, Standard Drilling's ownership in NWS has been reduced to 0%.