REG-Schlumberger Limited Schlumberger Recommends Stockholders Reject “Mini-Tender” Offer by TRC Capital Corporation <Origin Href="QuoteRef">SLB.N</Origin>

Schlumberger NVAnnouncement

20/06/2017 13:50

      Schlumberger Recommends Stockholders Reject Mini-Tender Offer by       TRC Capital Corporation    
    
      Schlumberger Limited(NYSE: SLB) (Schlumberger) has been notified of       an unsolicited mini-tender offer by TRC Capital Corporation (TRC       Capital) to purchase up to 2 million shares of Schlumberger common       stock, representing approximately 0.14 percent of Schlumbergers shares       of common stock outstanding. TRC Capitals offer price of $65.63 per       share is approximately 4.3 percent below the closing price per share of       Schlumbergers common stock on June 16, 2017, the last trading day       before the commencement of TRC Capitals offer.    
      Schlumberger does not endorse TRC Capitals unsolicited mini-tender       offer and is not associated in any way with TRC Capital, its mini-tender       offer, or its mini-tender offer documents.    
      Because TRC Capitals offer price is at a price below the current market       price for Schlumbergers common stock, Schlumberger recommends that       stockholders reject this unsolicited offer or, if stockholders have       already tendered shares, that they withdraw their shares by providing       the written notice described in the TRC Capital mini-tender offer       documents prior to the expiration of the offer, currently scheduled for       12:01 a.m., New York City time, on Wednesday, July 19, 2017.    
      TRC Capitals mini-tender offer seeks less than 5 percent of       Schlumbergers outstanding common stock, thereby avoiding many       disclosure requirements and procedural protections of the SEC. The SEC       has cautioned investors that some bidders make mini-tender offers at       below-market prices hoping that they will catch investors off guard if       the investors do not compare the offer price to the current market       price. The SECs cautionary advice to investors regarding these offers       is on its website at: http://www.sec.gov/investor/pubs/minitend.htm.    
      Stockholders should obtain current market quotations for their shares       of Schlumberger common stock, consult with their broker or financial       advisor, and exercise caution with respect to TRC Capitals mini-tender       offer.    
      Schlumberger encourages brokers and dealers, as well as other market       participants, to review the SECs letter regarding broker-dealer       mini-tender offer dissemination and disclosure at http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.    
      Schlumberger requests that a copy of this press release be included with       all distributions of materials relating to TRC Capitals mini-tender       offer related to shares of Schlumbergers common stock.    
      AboutSchlumberger    
      Schlumberger is the worlds leading provider of technology for reservoir       characterization, drilling, production, and processing to the oil and       gas industry. Working in more than 85 countries and employing       approximately 100,000 people who represent over 140 nationalities,       Schlumberger supplies the industrys most comprehensive range of       products and services, from exploration through production, and       integrated pore-to-pipeline solutions that optimize hydrocarbon recovery       to deliver reservoir performance.    
      Schlumberger Limited has principal offices in Paris, Houston, London and       The Hague, and reported revenues of $27.81 billion in 2016. For more       information, visit www.slb.com.    
      Schlumberger Limited
Simon Farrant  Schlumberger Limited, Vice       President of Investor Relations
Joy V. Domingo  Schlumberger       Limited, Manager of Investor Relations
Tel: +1 (713) 375-3535
investor-relations@slb.com    
    
View source version on businesswire.com: http://www.businesswire.com/news/home/20170620005905/en/
      Schlumberger Limited