Southampton, July 24 2015

Oyster Marine Ltd., regrets to report that Polina Star III – an extended 90ft version of the Oyster 825, launched in May 2014 – suffered a serious incident which compromised the integrity of the moulded hull off the East Coast of Spain on July 3rd and was lost the following day. All five crew members were safely recovered. Our thanks go out to the Spanish Coastguard for their professional assistance.

Oyster Marine takes this loss, the first of its kind in the Company’s 42 year history, with the utmost seriousness and has commenced an investigation to establish the cause. Diving inspections of the hull on the seabed have been undertaken and through this the possibility of impact with an underwater object propagating structural failure has not been ruled out. Recovery of the vessel will facilitate further detailed investigation.

Oyster used industry standard Classification Society rules for the design of the vessel and the calculations have been analysed by an independent expert in composite construction. He has verified that the design, which incorporates an internal structure not used in any other Oyster yachts, has appropriate safety factors. Another expert in composites has been engaged to provide a finite element analysis, which is being supported by ultrasonic tests and inspections of mouldings of the other Oyster 825s. Oyster is also in discussion with another Classification Society for an overall review of the design and the processes being used now to establish cause and a senior composite surveyor, recently retired from Lloyds Register, will assist in the verification process.  Oyster has no reason to believe that any other yachts in the range are in any way at risk. The structures and mouldings of the other Oyster 825s are being investigated to ensure that these yachts are safe, seaworthy and built to the exacting design standards that Oyster adopts.

The safety and integrity of all Oyster Yachts is our absolute priority at all times. We will do everything possible to establish the cause of this unfortunate loss. All Oyster owners can be sure that the Company is fully committed to building the finest luxury yachts which are, above all, totally seaworthy in all conditions.

David Tydeman, Chief Executive

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