SDRL - North Atlantic Drilling Ltd. files for initial public offering
HAMILTON, BERMUDA -- (Marketwire) -- 12/12/12 -- North Atlantic
Drilling Ltd. (NADL), a majority owned subsidiary of Seadrill
Limited, announced today that it filed its registration statements
with the US Securities and Exchange Commission (SEC) on Tuesday,
December 11, 2012. The initial public offering of NADL's common
and an exchange offer to exchange existing unregistered shares
for SEC-registered shares are expected to commence after the SEC
completes its review
process. NADL has applied to list its common
shares on The New York Stock Exchange under the symbol "NADL"
Morgan Stanley will act as the Global Coordinator and Lead Bookrunner
The offering of the common shares will be made only by means of a
prospectus. A written prospectus meeting the requirements of Section
10 of the Securities Act
of 1933 will be made available when the SEC
has completed its review process.
Registration statements relating to these securities have been filed
SEC but have not yet become effective. The securities may not
be sold, nor may
offers to buy be accepted, prior to the time the
registration statements becomes
effective. This news release does not
constitute an offer to sell or the solicitation of an offer to buy
any securities issuable pursuant to the registration statements, nor
will there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction.
The statements in this press release that are not historical facts
may be forward-looking statements. Such forward looking statements,
based upon the current beliefs and expectations of NADL's management,
are subject to risks and
uncertainties, which could cause actual
results to differ from the forward looking statements. The
information set forth herein should be read in light of such risks.
NADL does not assume any obligation to update the information
contained in this press release. North Atlantic Drilling is a leading
offshore harsh environment drilling company
in which Seadrill Limited
currently holds a 74 percent ownership interest. The
Company has a
fleet of six harsh environment units in operation and two newbuilds
under construction. North Atlantic Drilling is currently listed on
the N-OTC list in Norway.
This information is subject of the disclosure requirements pursuant
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Seadrill Limited via Thomson Reuters ONE
Rune Magnus Lundetrae
Chief Financial Officer
Seadrill Management AS
+47 51 30 91 26
Investor Relations Manager
Seadrill Management AS
+47 51 30 96 27
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