SSP Offshore reaches arbitration settlement

SSP Offshore has received an arbitration award of $2,672,313 from South Riding Point Holding.

Jul 14th, 2010

Offshore staff

HOUSTON -- SSP Offshore has received an arbitration award of $2,672,313 from South Riding Point Holding. The cash payment arises from an action filed in 2006 by SSP in regards to a dispute with a client of the subsea engineering division that was sold by the SSP in 2009.

Also, SSP Offshore says it has granted 250,000 stock options to Hugh Parry, a recent addition to the board of directors.

07/14/2010

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