Awilco Offshore Sets Cash Amount for OffRig Shares
Reference is made to the press release made by Awilco Offshore ASA and the Offer Document dated November 20, 2006 in respect of the voluntary offer to acquire the remaining shares of OffRig Drilling ASA ("OFRD") set forth by Awilco Offshore.
As set out in announcement and the Offer Document, shareholders who hold less than 16,500 shares in OFRD are offered a cash consideration for each share in OFRD. The cash consideration offered was set to the higher of NOK 25.50 and 0.425 multiplied by the volume weighted average trading price of AWO shares in the period November 22 – 27, 2006. Based on the foregoing, the cash consideration has been calculated to NOK 27.42.
The offer period expires on November 29, 2006 at 16:30 CET, by which time any acceptances must be received by Fearnley Fonds ASA or Pareto Securities ASA by fax, post or delivery.
- RCP Signs Supply Contract with Awilco Drilling (May 15)
- Awilco Inks LOI with Suncor Energy (May 03)
- AGR Lands North Sea Drilling Contract with Awilco (Feb 04)
Company: OffRig Drilling ASA more info
- OffRig to Build Third Semisub at Yantai Raffles Shipyard (Jan 31)
- Awilco Offshore's Stake in OffRig Reaches 91.2% (Jan 09)
- Awilco Announces Results of Voluntary Offer for OffRig (Nov 30)