Seadrill Limited

May 05, 2011 03:08 ET

SDRL - Repurchase of shares

HAMILTON, BERMUDA--(Marketwire - May 5, 2011) - Seadrill has through market purchases executed May 4, repurchased 350,000 of the Company's own common stocks at an average price of NOK179.80 per share.

The strategy behind the repurchase is to reduce the total outstanding number of shares after the recently announced notification of Call Option as informed in the press release April 7, 2011, and subsequent conversion of US$721.2 million of the 2012 Convertible bond into equity.

After the purchase, Seadrill has increased its holding of treasury shares from to 1,845,687 shares to 2,195,687.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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(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


Contact Information

  • Seadrill
    +47 51 30 99 00