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Odfjell Drilling Ltd: Supreme Court verdict

15.12.2015

Odfjell Drilling has received a Supreme Court verdict ruling in favour of Odfjell Rig Ltd for tax assessment for the years 2009 - 2011.

Odfjell Rig Ltd. disputed the Norwegian Tax Authority's view that Odfjell Rig Ltd. is taxable in Norway for its participation in Deep Sea Drilling Company II KS.  Odfjell Rig Ltd. appealed the case to the Supreme Court.

The estimated effect of the verdict on Odfjell Drilling's consolidated profit statement in 2015 is a reversal of booked tax expenses of NOK 400 million plus interest and a corresponding positive equity effect. 

For further queries, please contact:

Investor Relations:
Lasse H. Johannesen, Vice President Corporate Finance & Investor Relations
+47 995 06 908 / laj@odfjelldrilling.com

Media contact:
Gisle Johanson, SVP Communications
+47 414 40 050 / gijo@odfjelldrilling.com

Hamilton, Bermuda
15 December 2015
Odfjell Drilling Ltd.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.