Shelf Drilling, LTD
The Offering consists of: (i) a private placement to (a) investors in Norway, (b) institutional investors outside Norway and the United States of America (the "U.S." or the "United States"), subject to applicable exemptions from applicable prospectus and registration requirements, and (c) "qualified institutional buyers" ("QIBs") in the United States as defined in, and in reliance on, Rule 144A ("Rule 144A") or another available exemption under the U.S. Securities Act of 1933 (the "U.S. Securities Act") (the "Institutional Offering") and (ii) a retail offering to the public in Norway (the "Retail Offering"). All offers and sales outside the United States will be made to non-U.S. persons in offshore transactions in compliance with Regulation S under the U.S. Securities Act ("Regulation S").
The price (the "Offer Price") at which the Offer Securities will be sold in the Offering is expected to be between NOK 64.47 and NOK 72.53 per Offer Security (the "Indicative Price Range"). The Offer Price will be determined following a bookbuilding process and will be set by the Company in consultation with the Managers.
The Offer Price, and the number of Offer Securities sold in the Offering, is expected to be announced through a stock exchange notice on or before 22 June 2018 at 08:00 hours (Central European Time, "CET"). The offer period for the Institutional Offering (the "Bookbuilding Period") will commence at 09:00 hours (CET) on 13 June 2018 and close at 14:00 hours (CET) on 21 June 2018. The application period in the Retail Offering (the "Application Period") will commence at 09:00 hours (CET) on 13 June 2018 and close at 12:00 hours (CET) on 21 June 2018.
The Company has applied for a listing of the securities on the Oslo Stock Exchange.