Brief: Awilco Drilling: New CEO, Rig Newbuilding, Private Placement

Awilco Drilling

08/03/2019 15:45

March 8 (Reuters) - Awilco Drilling PLC  AWDR.OL :
    * REG-AWILCO DRILLING PLC: AWILCO DRILLING CONTINUES TRANSFORMATION WITH APPOINTMENT OF NEW
CEO,
DECLARATION OF RIG NEWBUILDING OPTION AND CONTEMPLATED PRIVATE PLACEMENT
    * ANNOUNCE THAT JENS BERGE HAS BEEN APPOINTED CHIEF EXECUTIVE OFFICER
    * MR BERGE WILL SUCCEED JON OLIVER BRYCE AS CEO
    * AWILCO RIG 2 PTE. LTD. HAS DECLARED ITS OPTION WITH KEPPEL FELS SHIPYARD IN SINGAPORE FOR
BUILDING OF ONE NEW CS60 ECO MW SEMI-SUBMERSIBLE DRILLING RIG
    * COST FOR RIG DELIVERED FROM YARD IN SINGAPORE IS APPROXIMATELY USD 425 MILLION
    * RIG DELIVERY IS PLANNED FOR MARCH 2022
    * IS CONTEMPLATING A PRIVATE PLACEMENT OF NEW SHARES WITH GROSS PROCEEDS UP TO APPROXIMATELY
USD
20 MILLION
    * IS CONTEMPLATING PRIVATE PLACEMENT DIRECTED TOWARDS NORWEGIAN AND INTERNATIONAL INVESTORS
    * SUBSCRIPTION PRICE WILL BE FIXED AT NOK 31.80 PER SHARE
    * WILL ENTER INTO SHARE LENDING DEAL WITH AWILHELMSEN OFFSHORE AS IN ORDER TO FACILITATE
DELIVERY
OF SHARES ALLOCATED IN PRIVATE PLACEMENT
    * PRIVATE PLACEMENT WILL BE SETTLED WITH EXISTING AND UNENCUMBERED SHARES IN CO THAT ARE
ALREADY
LISTED ON OSLO BØRS
    * SUBJECT TO COMPLETION OF PRIVATE PLACEMENT, INTENDS TO CARRY OUT SUBSEQUENT OFFERING OF
NEW
SHARES
    * SUBSEQUENT OFFERING WILL BE DIRECTED TOWARDS SHAREHOLDERS IN CO
    * SUBSCRIPTION PRICE IN SUBSEQUENT OFFERING WILL BE EQUAL TO SUBSCRIPTION PRICE IN PRIVATE
PLACEMENT

Source text for Eikon:  ID:nGNEbZm9zG 
Further company coverage:  AWDR.OL 

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