Transocean Ltd. Provides Update on Extraordinary General Meeting
January 16 2018 - 6:25PM
Transocean Ltd. (NYSE:RIG) announced today that it commenced its
previously scheduled extraordinary meeting of shareholders (“EGM”)
to approve proposals related to the acquisition of Songa Offshore
SE. The EGM is continuing to allow for the tabulation of votes
required to meet a quorum.
Transocean shareholders have shown overwhelming support for the
transaction, with approximately 97% of the shares for which proxies
have been submitted and counted indicating approval of the
proposals. Unless a quorum is reached, the company will be unable
to complete this transaction. The company expects to announce
results of the EGM on or about January 17, 2018.
About Transocean
Transocean is a leading international provider of offshore
contract drilling services for oil and gas wells. The company
specializes in technically demanding sectors of the global offshore
drilling business with a particular focus on deepwater and harsh
environment drilling services, and believes that it operates one of
the most versatile offshore drilling fleets in the world.
Transocean owns or has partial ownership interests in, and
operates a fleet of 39 mobile offshore drilling units consisting of
26 ultra-deepwater floaters, seven harsh environment floaters, two
deepwater floaters and four midwater floaters. In addition,
Transocean has three ultra-deepwater drillships under construction
or under contract to be constructed. The company also operates two
high-specification jackups that were under drilling contracts when
the rigs were sold, and the company continues to operate these
jackups until completion or novation of the drilling contracts.
For more information about Transocean, please visit:
www.deepwater.com.
Forward-Looking Statements
Any statements in this release that are not historical facts may
be forward-looking statements that involve certain risks,
uncertainties and assumptions. These forward-looking statements
include, but are not limited to, statements regarding the company’s
expectation regarding when it will announce the final results of
the EGM. All forward-looking statements included in this
release are based on information available to the company as of the
date of this communication and current expectations, forecasts and
assumptions. Forward-looking statements involve risks and
uncertainties which could cause actual results to differ materially
from those anticipated. These risks and uncertainties include the
final results of tabulating the votes cast at the EGM, as well as
the other risks and uncertainties included in the company’s
Definitive Proxy Statement with regard to the EGM, which was filed
with the U.S. Securities and Exchange Commission (the “SEC”) on
December 15, 2017, or in the company’s most recent Form 10-K, Forms
10-Q and other filings with the SEC. No forward-looking statements
in this release should be relied upon as representing the company’s
views or expectations as of any subsequent date, and the company
does not undertake any obligation to revise or update any such
forward-looking statement to reflect events or circumstances that
may arise after the statement was made.
Additional Information
This communication does not constitute an offer to buy or
exchange, or the solicitation of an offer to sell or exchange, any
securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
No offering of securities shall be made except by means of a
prospectus meeting the requirements of the U.S. Securities Act of
1933, as amended, and any applicable European and Norwegian
regulations. The transaction and distribution of this document may
be restricted by law in certain jurisdictions and persons into
whose possession any document or other information referred to
herein should inform themselves about and observe any such
restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction. No offering of securities will be made directly or
indirectly, in or into any jurisdiction where to do so would be
inconsistent with the laws of such jurisdiction.
Analyst Contacts:Bradley
Alexander+1 713-232-7515
Diane Vento+1 713-232-8015
Media
Contact:Pam Easton+1
713-232-7647
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