Trico Marine shareholder proposes bylaws change

By Lisa Kerner

Charlotte, N.C., March 6 - Trico Marine Services, Inc.'s largest shareholder Kistefos AS submitted a proposal to amend the company's bylaws at its 2009 annual meeting.

The 22.8% shareholder proposed amending the bylaws to increase the quorum of the board to seven directors, according to a schedule 13D/A filed with the Securities and Exchange Commission.

On Friday, Kistefos requested that Trico provide it with the company's stockholder list and security position listings in order to conduct a proxy solicitation, the filing said.

Kistefos nominated Christen Sveaas and Åge Korsvold on Feb. 27 for election to the company's board of directors.

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

As previously reported, Trico said there are legal concerns to adding Sveaas and Korsvold to the board, 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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