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Archer Ltd (ARCHER.OL)

ARCHER.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Archer sold 6.2 mln shares out of 16.8 mln offering
Wednesday, 19 Apr 2017 03:31pm EDT 

April 19 (Reuters) - Archer Ltd :Announces preliminary result of the subsequent share offering.Preliminary results show that a total of 6,205,552 new shares were subscribed for in subsequent offering.Subsequent offering was for of up to 16,800,000 new shares.  Full Article

Archer says subsequent share offering commences April 3
Friday, 31 Mar 2017 07:32am EDT 

Archer Ltd : Application period in subsequent offering commences 3 april 2017 at 09:00 (cet), and expires on 19 april 2017 at 16:30 (cet) .Offer price per new share is nok 10.00, equal to subscription price per private placement share.  Full Article

Seadrill to hold 16 pct stake in Archer following share issue
Wednesday, 1 Mar 2017 04:59am EST 

Seadrill Ltd : Upon completion of private placement in Archer, Seadrill will own 23,105,324 shares, representing approximately 16 pct of issued shares and voting rights .In addition, Seadrill will be given the right to subscribe for new shares in a subsequent offering, with the number of such rights to be confirmed, as further described in a stock exchange notice from Archer today.  Full Article

Billionaire John Fredriksen's Hemen bough 12.6 mln Archer shares
Wednesday, 1 Mar 2017 02:02am EST 

Archer Ltd : Hemen Holding, a company indirectly controlled by trusts established by John Fredriksen for the benefit of his immediate family, has been allocated 12,600,000 shares in Archer's private placement . At same time, Hemen has sold 4,914,890 shares and entered into a TRS agreement with exposure to 4,914,890 shares in Archer . Upon completion of the private placement Hemen will own 12,119,675 shares in archer, representing approximately 8.53 pct of issued shares and voting rights. In addition Hemen holds a TRS agreement with an underlying exposure to 4,914,890 shares in Archer with expiration date 16 May 2017 and TRS price NOK 10.041 per share, and a TRS agreement with an underlying exposure to 2,395,300 shares in Archer with expiration date 6 March 2017 and TRS price NOK 7.038 per share .Archer raised $100 million in the share issue, the company said earlier on Wednesday [nFWN1GE02L].  Full Article

BRIEF-Archer says $100 mln share issue significantly oversubscribed
Wednesday, 1 Mar 2017 02:00am EST 

Archer Ltd : USD 100 million private placement successfully placed . says subscription price of NOK 10.00 per share . says private placement received strong interest from large international and nordic institutional investors and was significantly oversubscribed .says will carry out a subsequent offering of up to 16,800,000 new shares for gross proceeds of up to NOK 168 million ($20 million).  Full Article

BRIEF-Oil service firm Archer to issue new shares, restructure debt
Tuesday, 28 Feb 2017 11:10am EST 

Archer Ltd : Oslo-listed oil service firm says q4 revenues $221.4 million (Reuters poll $215 million) . Says its q4 underlying EBITDA $18.8 million (Reuters poll EBITDA $16 million) . Says underlying EBITDA excludes restructuring costs of $4.8 million . Says its net interest-bearing debt $795.9 million at end q4 versus $814.9 million at end q3 . Says expects first quarter 2017 to be somewhat lower than fourth quarter 2016, but expect that full 2017 to be largely in line with 2016 before restructuring . Says expects total spending for 2017 to be approximately 2-3 pct of revenue . Says announces a comprehensive refinancing, including an equity issue . Says says plans to rise usd 60-120 in a private placement of new shares for existing shareholders and potential new Norwegian and international investors . Says has received significant indications of interest from investors, including from Hemen Holding Ltd., to subscribe in private placement for an amount well exceeding minimum required transaction size of usd 60 million . Says has retained ABG Sundal Collier ASA, Arctic Securities AS, DNB Markets, Nordea Markets, and Skandinaviska Enskilda Banken AB (publ.) as Joint Bookrunners . Says company has secured agreement with lenders for a restructuring of usd 625 million revolving credit facility (RCF).  Full Article

Oil service firm Archer to issue new shares, restructure debt
Tuesday, 28 Feb 2017 11:07am EST 

Archer Ltd : Oslo-listed oil service firm says q4 revenues $221.4 million (Reuters poll $215 million) . Says its q4 underlying EBITDA $18.8 million (Reuters poll EBITDA $16 million) . Says underlying EBITDA excludes restructuring costs of $4.8 million . Says its net interest-bearing debt $795.9 million at end q4 versus $814.9 million at end q3 . Says expects first quarter 2017 to be somewhat lower than fourth quarter 2016, but expect that full 2017 to be largely in line with 2016 before restructuring . Says expects total spending for 2017 to be approximately 2-3 pct of revenue . Says announces a comprehensive refinancing, including an equity issue . Says says plans to rise usd 60-120 in a private placement of new shares for existing shareholders and potential new Norwegian and international investors . Says has received significant indications of interest from investors, including from Hemen Holding Ltd., to subscribe in private placement for an amount well exceeding minimum required transaction size of usd 60 million . Says has retained ABG Sundal Collier ASA, Arctic Securities AS, DNB Markets, Nordea Markets, and Skandinaviska Enskilda Banken AB (publ.) as Joint Bookrunners . Says company has secured agreement with lenders for a restructuring of usd 625 million revolving credit facility (RCF).  Full Article

Archer Q2 EBITDA ex. items down at $17.4 mln Q/Q
Friday, 29 Jul 2016 02:44am EDT 

Archer Ltd : Q2 revenue $218.8 million compared to $320.8 million year ago and $229.2 million in Q1 2015 . Q2 EBITDA before restructuring costs was $17.4 million versus $26.4 million in Q1 . Q2 EBITDA after restructuring and one-time cost was a loss of $1.6 million . As global commodity prices remained under pressure, many of its customers decided to further reduce their spending levels for 2016 . Starting to see signs of higher activity levels and expect activity to improve towards the end of the year .Expects Q3 2016 revenue to be lower than Q2 following continued reduction in drilling activities.  Full Article

Oil service firm Archer appoints John Lechner as new CEO
Friday, 29 Apr 2016 02:00am EDT 

Archer Ltd:Archer's board of directors appoints John Lechner as CEO and Dag Skindlo as director.Mr. Lechner has more than 30 years of experience in international oilfield services and replaces David King, who has been Archer's CEO since July 2013.  Full Article

Archer appoints Dag Skindlo as new CFO
Tuesday, 19 Apr 2016 02:20am EDT 

Archer Ltd:Announces appointment of Dag Skindlo as company's new chief financial officer and executive vice president strategy, effective May 1, 2016.Skindlo comes from his role as CEO for Aquamarine Subsea, a HitecVision owned company.Says Christoph Bausch has decided to leave company in order to pursue other interests.Says Bausch had been the Executive Vice President and CFO in Archer since May 2011.  Full Article

More From Around the Web

BRIEF-Archer announces final result of subsequent offering

* In total 4.9 million shares have been allocated and will be issued Source text for Eikon: Further company coverage: