Primelead Cashes in on Ocean Rig's Compulsory Transfer of Shares

The board of Primelead Ltd. has decided to effect a compulsory transfer of all remaining shares in Ocean Rig ASA pursuant to § 4-25 of the Joint Stock Public Companies Act.

As a consequence of the compulsory transfer and cancellation of treasury shares held by Ocean Rig ASA, Primelead Ltd. will be owner of all shares in Ocean Rig ASA. Primelead Ltd offers NOK 45 per share as compensation. 

Shareholders that intend to contest the price offered for the shares must file a written claim within September 1, 2008. If such claim is not received within this deadline the shareholder is considered to have accepted the price, and settlement for the shares will take place as soon as possible and within seven business days after the deadline.

For shareholders that contest the price offered for the shares the price will be decided by the court pursuant to § 4-25 of the Joint Stock Public Companies Act. A claim for a judical decree must be submitted to Wikborg, Rein & Co. for the attention of Christoffer Bergene, Postboks 1513 Vika, N-0117 Oslo, fax nr. 22 82 75 01. Written notices on the compulsory transfer of shares are sent to all shareholders with known addresses.  

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