Odfjell Drilling Ltd: Allocation to primary insiders
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27 September 2013: Allocation to primary insiders
Reference is made to the final results of the initial public offering (the "Offering") of the shares of Odfjell Drilling Ltd ("Odfjell Drilling", the "Company", OSE ticker: "ODL") announced earlier today.
The primary insiders of Odfjell Drilling listed below have been allocated shares at a price of NOK 42 per share (less the discount of NOK 1,000 on the aggregate amount payable for those who have been allocated shares in the retail offering) in accordance with the procedures and on the terms set out in the prospectus dated 13 September 2013.
The number of shares allocated to the Company's primary insiders is as follows:
- Simen Lieungh, the President and CEO, has been allocated 952,381 shares in the Offering (without retail discount) and will thus own 952,381 shares in Odfjell Drilling following completion of the Offering.
- Cenor Ltd, a related party to Carl-Erik Haavaldsen, a member of the Board of Directors, has been allocated 19,047 shares in the Offering (with retail discount) and will thus own 19,047 shares in Odfjell Drilling following completion of the Offering.
- Janike Amundsen Myre, the Senior Vice President QHSE, has been allocated 3,454 shares in the Offering (with retail discount) and will thus own 3,454 shares in Odfjell Drilling following completion of the Offering.
- Bengt Alvar Olsen, the Senior Vice President HR & Organisation, has been allocated 1,151 shares in the Offering (with retail discount) and will thus own 1,151 shares in Odfjell Drilling following completion of the Offering.
- Gisle Johanson, the Senior Vice President Communications, has been allocated 576 shares in the Offering (with retail discount) and will thus own 576 shares in Odfjell Drilling following completion of the Offering.
- Cecilie Isdahl Gjelsvik, Legal Counsel, has been allocated 250 shares in the Offering (with retail discount) and will thus own 250 shares in Odfjell Drilling following completion of the Offering.
For further queries, please contact:
Gisle Johanson, SVP Communications, Odfjell Drilling
+47 414 40 050
This announcement is not and does not form a part of any offer for sale of securities.
Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.
The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any part of the offering in the United States or to conduct a public offering of securities in the United States.
Any offering of the securities referred to in this announcement will be made by means of a prospectus. This announcement is not a prospectus for the purposes of Directive 2003/71/EC (as amended, together with any applicable implementing measures in any Member State, the "Prospectus Directive"). Investors should not subscribe for any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.
In any EEA Member State other than Norway that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.
This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.