Hamilton, Bermuda, July 1, 2015
- We refer to the press releases dated January 30, 2013,
February 7, 2013, May 10, 2013, August 7, 2013, August 29, 2013,
November 7, 2013, February 7, 2014, May 7, 2014, August 7,2014,
November 7, 2014, February 9, 2015 and May 7, 2015 which announced
the forward agreements for Seadrill Limited's ("Seadrill") holdings
in Sevan Drilling ASA ("Sevan ASA") shares.
In connection with the migration of Sevan ASA
from Norway to Bermuda, we have closed these agreements and
entered in to new agreements with the equivalent number of shares
in Sevan Drilling Limited as follows:
Seadrill has entered into a forward agreement for
10,803,274 Sevan Drilling Limited shares expiring August 10, 2015
at a price of NOK 9.795729.
Additionally, Seadrill has entered into a new
forward agreement for 4,091,425 Sevan Drilling Limited shares
expiring August 6, 2015 with a strike price of NOK 12.486.
Prior to the migration, Seadrill controlled
297,941,358 shares of Sevan ASA, either through direct ownership or
forward agreements, representing 50.11% of all issued shares of
Sevan ASA. Shareholders will after completion of the settlement of
the capital decrease effecting the migration, have approximately
the same ownership share in Sevan Drilling Limited as they had in
Sevan ASA. Seadrill will announce exact ownership share in Sevan
Drilling Limited after completion of the settlement if it deviates
from the ownership share in Sevan ASA
This information is subject of the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act