ADES International Holding Notice of Extraordinary General Meeting (6525E)
13 February 2018 - 6:00PM
UK Regulatory
TIDMADES
RNS Number : 6525E
ADES International Holding
13 February 2018
Notice of Extraordinary General Meeting
(London and Dubai, 13 February 2018) ADES International Holding
Ltd. (LON: ADES), the London-listed company providing offshore and
onshore oil and gas drilling and production services in the Middle
East and Africa through its subsidiaries, has today posted a
circular to shareholders convening an Extraordinary General Meeting
("EGM") to be held at 10:00 a.m (UK time) on Sunday, 18 March 2018
at the Jumeirah Carlton Tower Hotel, Cadogan Place, Knightsbridge,
London SW1X 9PY, United Kingdom.
The purpose of this EGM is to consider and pass resolutions on
the issuance and allotment of shares relating to the purchase and
sale agreement entered into with Nabors Drilling International II
Limited ("Nabors"), announced on 19 December 2017, for the
acquisition of three operating offshore jack-up rigs in the Arabian
Gulf and all associated existing drilling contracts. The total
purchase price of US$83,000,000 is to be payable by a combination
of cash and ordinary shares in the Company.
Further information on the transaction can be found in the
relevant press releases under "Regulatory News & Results" on
the Company's investor relations website
(investors.adihgroup.com).
-Ends-
Enquiries
ADES International
Holding
Hussein Badawy
Investor Relations
Officer ir@adesgroup.com +2 (0)2527 7111
Instinctif
+44 (0)20
David Simonson david.simonson@instinctif.com 7457 2020
+44 (0)20
Laura Syrett laura.syrett@instinctif.com 7457 2020
+44 (0)20
George Yeomans george.yeomans@instinctif.com 7457 2020
NOTES TO EDITORS
About ADES International Holding
ADES International Holding extends oil and gas drilling and
production services through its subsidiaries and is a leading
service provider in the Middle East and Africa, offering onshore
contract drilling as well as workover and production services in
Egypt, Algeria and Saudi Arabia. The company is pre-qualified in
markets including Egypt, Saudi Arabia, Algeria, India, Mexico and
the Saudi-Kuwaiti Neutral Zone. Its over 1,200 employees serve
clients including major national oil companies ("NOCs") such as
Saudi Aramco and Sonatrach as well as joint ventures of NOCs with
global majors including BP and Eni. While maintaining a superior
health, safety and environmental record, the Group currently has a
fleet of nine jack-up offshore drilling rigs, three onshore
drilling rigs, a jack-up barge, and a mobile offshore production
unit ("MOPU"), which includes a floating storage and offloading
unit.
The Group is the largest offshore drilling operator in Egypt by
number of rigs. investors.adihgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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