SDRL -- Disclosure regarding Sevan Drilling ASA
HAMILTON, BERMUDA -- (Marketwire) -- 01/30/13 --
Hamilton, Bermuda, January 30, 2013 - Seadrill Limited ("Seadrill")
and accepted an attractive offer from a commercial bank
to finance its current
exposure to Sevan Drilling ASA ("Sevan")
through a forward agreement. Seadrill
has in connection with this
sold its existing 96,000,000 shares and received
a forward agreement
with exposure to the same number of shares. The shares have
at NOK 3.95 per share. The forward agreement runs until 30 April
and has a strike price of NOK 3.9851. Following the new
agreement Seadrill are
not longer directly owners of any shares in
Sevan, but are exposed though forward agreements to 96,000,000 shares
or 28,52 percent of the outstanding shares.
The total ownership percentage has been calculated based on an issued
share capital in Sevan of 336,625,000 shares and do not include the
issuance of the new planned private placement.
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
+47 51 30 99 00
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