SOURCE: Seadrill Limited

February 21, 2011 02:55 ET

SDRL - North Atlantic Drilling Ltd finalized share allocation

HAMILTON, BERMUDA--(Marketwire - February 21, 2011) - Reference is made to the press release on February 16, 2011 regarding the close of the Private Placement in North Atlantic Drilling Ltd. ("NADL" or the "Company"). The Private Placement was closed on February 16, 2011 at 12:00. However, due to significant over-subscription, the NADL share allocation was not finalized before yesterday. As the book was more than 20 times covered, the Company has emphasized reported Seadrill Limited shareholders as the prime allocation criteria. The Company has further tried to arrange for a shareholder structure which can qualify for an immediate stock exchange listing of the Company. The Company will, based on the allocation, have approximately 1,200 shareholders.

Payment and delivery of the shares has been set to Thursday February 24, 2011. The shares will start trading on N-OTC as of Thursday February 24, 2011 under ticker NADL this week.

This information is subject of the disclosure requirements pursuant to section 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 that:

(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

[HUG#1490807]

Contact Information

  • For further information, please contact:

    Alf C. Thorkildsen
    CEO & President
    Seadrill Management AS
    tel. +47 51 30 99 19

    Esa Ikaheimonen
    CFO
    Seadrill Management AS
    tel. +47 51 30 99 19

    Jim Datland
    VP Investor Relations
    Seadrill Management AS
    tel. +47 51 30 99 19

    http://www.seadrill.com

    or the Managers:

    RS Platou Markets AS
    tel. +47 22 01 63 93

    ABG Sundal Collier Norge ASA
    tel. +47 22 01 60 00

    Carnegie ASA
    tel. +47 22 00 93 40

    Fearnley Fonds ASA
    tel. +47 22 93 60 00