Trico Marine shareholder Kistefos seeks board representation

By Lisa Kerner

Charlotte, N.C., March 2 - Trico Marine Services, Inc. shareholder Kistefos AS intends to nominate two individuals for election to Trico's board of directors at the company's 2009 annual meeting, according to a form 8-K filed with the Securities and Exchange Commission.

Kistefos also plans to submit two stockholder proposals at the meeting, the filing said.

Trico said it has been in discussions with Kistefos for more than two months in an effort to avoid a proxy contest. Kistefos has rejected Trico's alternatives, the company said.

There are legal concerns related to adding Kistefos nominees Christen Sveaas and Age Korsvold to the board, Trico said, in part because Kistefos owns a Trico direct competitor.

Houston-based Trico provides marine support services to the oil and gas industry.

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