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Sevan Drilling ASA Provides Further Details on Private Placement


Wednesday, 6 Feb 2013 07:26am EST 

Sevan Drilling ASA announced that the Extraordinary General Meeting approved all proposals made by the Company's Board of Directors as set out in the notice issued on January 16, 2013, including the issue of shares in the private placement announced on January 14, 2013 and the authorization of the Board of Directors to issue shares in the subsequent offering following the private placement. With reference to previous announcements, the Company expects that final amendment agreements, documenting revised financing terms, will be executed on or about February 7, 2012, following which the conditions for completion of the USD 175 million private placement will have been fulfilled. It is expected that the private placement shares will be issued on February 13, 2013, following the approval and publication of the prospectus. The subsequent offering is expected to start on or about February 14, 2013. 

Company Quote

3.17
0.33 +11.62%
8:32am EDT