NADL - Chapter 11 Plan Effective
July 02 2018 - 2:11PM
Hamilton, Bermuda, July 2,
2018 - North Atlantic Drilling Ltd. ("NADL" or the
"Company"), makes reference to the announcement made by Seadrill
Limited today, July 2, 2018. Further to Seadrill Limited emerging
from chapter 11, the common shares in NADL will be deregistered
from the Norwegian OTC market and cancelled in due course with no
recovery for existing shareholders.
FORWARD LOOKING STATEMENTS
This news release includes forward looking
statements. Such statements are generally not historical in nature,
and specifically include statements about the Company's plans,
strategies, business prospects, changes and trends in its business,
the markets in which it operates and its restructuring efforts.
These statements are made based upon management's current plans,
expectations, assumptions and beliefs concerning future events
impacting the Company and therefore involve a number of risks,
uncertainties and assumptions that could cause actual results to
differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this
news release. Consequently, no forward-looking statement can be
guaranteed. When considering these forward-looking statements, you
should keep in mind the risks described from time to time in the
Company's filings with the Securities and Exchange Commission,
including its Annual Report on Form 20-F (File No. 001-36277). The
Company undertakes no obligation to update any forward looking
statements to reflect events or circumstances after the date on
which such statement is made or to reflect the occurrence of
unanticipated events. New factors emerge from time to time, and it
is not possible for the Company to predict all of these factors.
Further, the Company cannot assess the impact of each such factor
on its business or the extent to which any factor, or combination
of factors, may cause actual results to be materially different
from those contained in any forward looking statement.
This information is subject to the disclosure
requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: North Atlantic Drilling Ltd. via
Globenewswire
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