SOURCE: Seadrill Limited

October 21, 2008 03:02 ET

SDRL - Mandatory notification of trade

HAMILTON, BERMUDA--(Marketwire - October 21, 2008) -


Hemen Holdings Ltd, a company indirectly controlled by Seadrill's Chairman John Fredriksen, has settled a TRS agreements underlying 3,250,000 shares expiring October 20 and subsequent entered into a new TRS agreement with exposure to underlying 3,500,000 Seadrill shares. New expiry date is April 20, 2009, and new TRS price is NOK61,68. Hemen Holding`s and John Fredriksen's ownership in Seadrill is following this transaction unchanged 132,747,583 shares, constituting 33.26 percent of the issued share capital. Hemen Holding controls after this in addition TRS agreements with exposure to totally 4,100,000 shares in Seadrill Limited and options for further 350,000 shares. These numbers are increased by 250.000 shares after the transaction.

Drew Investment Ltd, a company controlled by Seadrill Director Tor Olav Trøim, has settled a TRS agreements expiring October 20 and subsequent entered into a new TRS agreement with exposure to the same number of underlying shares 100,000. New expiry date is April 20, 2009, and new TRS price is NOK61,811. Trøim's direct and indirect holding in Seadrill Limited following this transaction is 350,000 shares and 275,000 options. Trøim controls after this in addition TRS agreements with exposure to totally 400,000 shares in Seadrill Limited. These numbers remain unchanged after the transaction.

Seadrill Limited
Hamilton, Bermuda
October 20, 2008

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Copyright © Hugin AS 2008. All rights reserved.

Contact Information

  • Analyst contact:

    Jim Daatland

    VP Investor Relations

    Seadrill Management AS

    +47 51 30 99 19