Oslo-listed OSV owner Oceanteam has clinched a vital agreement with bondholders to swap debt for equity.

At a meeting in Bergen on Friday, investors okayed the allocation of $62.07m in new shares to the bondholders.

There will also be a new share issue of between NOK 20m ($2.56m) and NOK 100m for existing investors

And the company has found a new auditor, RSM Norge.