The board has determined that an allocation of the original company’s share capital would be divvied out at 35.2% to Akastor, and 64.8% to ASH, in accordance with the expected future cash flow, risks and prospects of the two companies.

Some assets under Akastor’s oilfield services and marine assets (OMA) businesses will be written down to reflect market value.

An impairment charge of 664 million Norwegian krone ($A114.6 million) will be taken on the Skandi Aker vessel, NOK662 million on the Aker Wayfarer, and NOK306 million on the goodwill value of the OMA businesses.

ASH will apply for listing on the Oslo Stock Exchange around August 27, with the last day for right to consideration shares to be September 26.