Brief: SD Standard Drilling private placement significantly oversubscribed

SD Standard Etc

06/01/2017 07:00

Jan 6 (Reuters) - SD Standard Drilling Plc  SDSD.OL : 
    * Contemplated private placement was significantly oversubscribed 
    * Has allotted and issued 111,111,200 shares at price of 0.90 Norwegian crown corresponding 
to gross proceeds of 100 million Norwegian crowns ($11.76 million) 
    * Proceeds will be used for oil service investment opportunities, directly into companies, 
securities and/or assets, with aim to control larger fleet of assets - all purchased at  
low values 
    * Will launch subsequent share offering of 11.9 million shares 
 
Source text for Eikon:  ID:nObiJTc7ra  
Further company coverage:  SDSD.OL  
 
($1 = 8.5053 Norwegian crowns) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))