Brief: S.D. Standard Drilling: Contemplated private placement

SD Standard Etc

08/12/2016 15:31

Dec 8 (Reuters) - SD Standard Drilling Plc  SDSD.OL : 
    * Contemplated private placement for issue of up to 423,076,924 new shares for gross 
proceeds of about up to 275 million Norwegian crowns  ($32.56 million) 
    * Offer price has been set to 0.65 crown 
    * Net proceeds from private placement will be used for oil service investment opportunities, 
directly into companies, securities and/or independent assets, with the aim to control a larger 
fleet of assets - all purchased at distressed values  
 
Source text for Eikon:  ID:nObi1N8yRa  
Further company coverage:  SDSD.OL  
 
($1 = 8.4465 Norwegian crowns) 
 
 (Gdynia Newsroom) 
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