Since its original listing in 2011, the shares of Awilco Drilling PLC ("Awilco
Drilling") have, in accordance with established market practice in the Norwegian
market, been registered in Euronext Securities Oslo (the "VPS") by way of SSL
registration, under which DNB Verdipapirservice, as the account operator of
Awilco Drilling, has been registered as the nominal holder of all the shares of
Awilco Drilling in the register of members, and beneficial interests
representing the shares have been issued in the VPS.
As a result of the implementation of the EU Central Securities Depositories
Regulation (Regulation EU no 909/2014), the SSL method of registration will no
longer be permitted in Norway. Awilco Drilling has explored various alternatives
for maintaining the VPS registration, and has concluded that the only feasible
alternative is to structure the VPS registration by way of Norwegian Depository
Receipts.
Since DNB Verdipapirservice currently does not offer Norwegian Depository
Receipts as a product, Awilco Drilling will terminate the current registrar
agreement with DNB Verdipapirservice effective from 1 November 2022 and has
entered into a new registrar agreement with Nordic Issuer Services AS effective
from the same date. Accordingly, Nordic Issuer Services AS will be the issuer
account operator of Awilco Drilling from 1 November 2022, and will from this
date be registered as the nominal holder of all the shares of Awilco Drilling in
the register of members.
The change from SSL registration to registration of Norwegian Depository
Receipts has not yet been implemented, but will be so before the deadline for
ceasing SSL registration. Awilco Drilling will revert with further information
once the time for change to Norwegian Depository Receipts has been determined.
Aberdeen, 1 November 2022
For further information, please contact:
Eric Jacobs, Interim CEO
Phone: +44 1224 737900
Cathrine Haavind, Investor Relations
Phone: +47 93 42 84 64
Email: ch@awilcodrilling.com (mailto:ch@awilcodrilling.com)
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.