LRP V Luxembourg Holdings S.a r.l.

September 01, 2009 13:09 ET

LRP V Luxembourg Holdings S.a r.l. Announces Acquisition of an Additional 1,003,420 Common Shares of Tesco Corporation

CALGARY, ALBERTA--(Marketwire - Sept. 1, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

LRP V Luxembourg Holdings S.a r.l. ("LRP") announces it has acquired an additional 1,003,420 common shares ("Purchased Shares") of Tesco Corporation ("Tesco") at prices ranging from USD $7.31 (approximately CAD $8.03) to USD $7.65 (approximately CAD $8.40) pursuant to open market purchases through the facilities of the NASDAQ Stock Exchange between the dates of July 15, 2009 and August 31, 2009 (the "Acquisition"). The Purchased Shares represent approximately 2.67% of the issued and outstanding shares of Tesco.

Following completion of the Acquisition, LRP holds 6,149,480 common shares representing approximately 16.35% of the outstanding common shares of Tesco.

LRP acquired the Purchased Shares for investment purposes. LRP may in the future take such actions in respect of its shareholdings in Tesco as it may deem appropriate in light of the circumstances then existing, including the purchase of additional shares or other securities of Tesco through open market purchases or privately negotiated transactions, or the sale of all or a portion of its holdings in the open market or in privately negotiated transactions to one or more purchasers.

A copy of LRP's related early warning report filed with the applicable securities commissions and further information may be obtained by contacting Eric Vanderkerken or Hamish Hector Lawrence Ross, the Managers of LRP at: 13 - 15 Avenue de la Liberte, L-1931 Luxembourg; Telephone: 352 268 901; or Facsimile: 352 268 901 69.

Contact Information

  • LRP V Luxembourg Holdings S.a r.l.
    Eric Vanderkerken
    Manager
    352 268 901
    352 268 901 69 (FAX)
    or
    LRP V Luxembourg Holdings S.a r.l.
    Hamish Hector Lawrence Ross
    Manager
    352 268 901
    352 268 901 69 (FAX)
    or
    LRP V Luxembourg Holdings S.a r.l.
    13 - 15 Avenue de la Liberte, L-1931 Luxembourg