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Msg  37356 of 37373  at  2/21/2020 3:46:34 AM  by

ICE


NODL - NOL

First day after exchange of NODL shares

OSLO BØRS - MATCHING HALT - 21.02.2020, 09:02:26

A matching halt has been imposed in anticipation

of an announcement from the company.


NODL: RESULTS FROM REPLACEMENT OFFERS ARE WAITING AROUND 26
 
FEBRUARY
 
Oslo (TDN Direct): The result of the offer to Northern Drilling
shareholders to switch shares to Northern Ocean shares is expected
to be around February 26, 2020 as soon as the counting of acceptances
in the offer is completed. According to a statement from Northern Drilling on Friday. There is a stock market matching halt in Northern Drilling on Friday
morning, pending an announcement from the company.


NOL - No trades, time of writing ( 45 minutes into trading OSE OTC )

NORTHERN DRILLING LTD. AND NORTHERN OCEAN LTD.: RESULTS OF THE SUBSEQUENT OFFERING NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN. Reference is made to previous stock exchange releases by Northern Drilling Ltd. (“NODL”) on 6 February 2020 regarding, inter alia, (i) a subsequent offering of shares in Northern Ocean Ltd. (“NOL”) (the “Subsequent Offering”) and (ii) an exchange offer where eligible shareholders in NODL may accept to exchange certain shares they own in NODL with consideration in the form of shares in NOL owned by NODL (the “Exchange Offer”, and together with the Subsequent Offering, the “Offering”). Reference is further made to the stock exchange notice published by the Oslo Stock Exchange on 17 February 2020 regarding the decision to approve NOL for listing on Oslo Børs, provided that NOL satisfy the listing requirements for Oslo Børs (or alternatively Oslo Axess). Subsequent Offering Upon expiry of the subscription period at 16:30 CET on 20 February 2020, final counting shows that there have been exercised subscription rights for 75,686 new shares in the Subsequent Offering. As a result, NOL will issue 75,686 new shares at NOK 49 per share raising gross proceeds of NOK 3,708,614. Allocation letters are expected to be distributed tomorrow, 21 February 2020, and payment date is Monday 24 February 2020. Subject to full payment being received, the new shares are expected to be issued on 25 February 2020 following which the new shares are expected to be delivered to the investors’ VPS accounts on 26 February 2020. The new shares issued through the Subsequent Offering will be registered with the VPS under NOL’s ISIN BMG6682J1036 and provided that NOL satisfies the listing requirements for Oslo Børs (or alternatively Oslo Axess) become tradable on Oslo Børs (or alternatively Oslo Axess) under the trading symbol “NOL” on 27 February 2020. Exchange Offer The result of the Exchange Offer is expected to be announced on or about 26 February 2020 once the final count of acceptances under the Exchange Offer has been completed. Please note that completion of the Exchange Offer is subject to certain terms and conditions, including satisfying criteria set by Oslo Børs for listing of the shares of NOL on Oslo Børs (or alternatively Oslo Axess), as further described in the announcement by NODL on 6 February 2020. It is not possible to verify the fulfilment of such conditions until the final count of the Exchange Offer has been made on or about 26 February 2020. Provided that NOL satisfies the listing requirements for Oslo Børs (or alternatively Oslo Axess), the shares of NOL are expected to become tradable on Oslo Børs (or alternatively Oslo Axess) under the trading symbol “NOL” on 27 February 2020. Contacts: Scott McReaken, CEO in Northern Drilling Ltd. Tel. +1 832 509 7191



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