HAMILTON, BERMUDA--(Marketwire - Dec 12, 2012) - North Atlantic Drilling Ltd. (NADL), amajority owned subsidiary of Seadrill Limited, announced today that itfiled itsregistration statements with the US Securities and Exchange Commission(SEC) onTuesday, December 11, 2012. The initial public offering of NADL's commonsharesand an exchange offer to exchange existing unregistered shares forSEC-registered shares are expected to commence after the SEC completes itsreviewprocess. NADL has applied to list its common shares on The New York StockExchange under the symbol "NADL"
Morgan Stanley will act as the Global Coordinator and Lead Bookrunner oftheoffering.
The offering of the common shares will be made only by means of aprospectus. Awritten prospectus meeting the requirements of Section 10 of the SecuritiesActof 1933 will be made available when the SEC has completed its reviewprocess.
Registration statements relating to these securities have been filed withtheSEC but have not yet become effective. The securities may not be sold, normayoffers to buy be accepted, prior to the time the registration statementsbecomeseffective. This news release does not constitute an offer to sell or thesolicitation of an offer to buy any securities issuable pursuant to theregistration statements, nor will there be any sale of these securities inanystate or jurisdiction in which such offer, solicitation or sale would beunlawful prior to registration or qualification under the securities lawsof anysuch state or jurisdiction.
The statements in this press release that are not historical facts may beforward-looking statements. Such forward looking statements, based upon thecurrent beliefs and expectations of NADL's management, are subject to risksanduncertainties, which could cause actual results to differ from the forwardlooking statements. The information set forth herein should be read inlight ofsuch risks. NADL does not assume any obligation to update the informationcontained in this press release.North Atlantic Drilling is a leading offshore harsh environment drillingcompanyin which Seadrill Limited currently holds a 74 percent ownership interest.TheCompany has a fleet of six harsh environment units in operation and twonewbuilds under construction. North Atlantic Drilling is currently listedon theN-OTC list in Norway.
This information is subject of the disclosure requirements pursuant tosection5-12 of the Norwegian Securities Trading Act.
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Source: Seadrill Limited via Thomson Reuters ONE
- Investment & Company Information
Rune Magnus Lundetrae
Chief Financial Officer
Seadrill Management AS
+47 51 30 91 26
Investor Relations Manager
Seadrill Management AS
+47 51 30 96 27