SDRL -Disclosure of Large Shareholdings
July 28 2014 - 4:06PM
Hamilton, Bermuda, July 28,
2014 - Tor Olav Trøim has been employed by the Seatankers
Group on a full time basis since 1995. Mr Trøim has, during
this period, been an instrumental force in assisting the Seatankers
Group in the transformation of Greenwich Holdings Ltd. (the parent
in the Seatankers Group) from a shipping company focused on the
tanker industry to a major investment company with significant
direct and indirect holdings in more than 15 public and
private companies covering a variety of industries.
Mr Trøim and the Seatankers Group have, over the
last year, discussed how to organise their cooperation going
forward. The background for this is that Mr Trøim wishes to focus
his resources on fewer investments, primarily by spending more of
his time developing Golar LNG Ltd. into a leading integrated LNG
provider in the rapidly changing and fast growing LNG industry and
continuing to develop Seadrill Limited as the world's preeminent
offshore drilling company. It has been agreed, between Mr Trøim and
the Seatankers Group, that Mr Trøim will leave his full time
position with the Seatankers Group effective as of July 31, 2014
and thereafter provide independent investment and advisory services
to the Seatankers Group. The purpose of this agreement is to
continue to make Mr Trøim's resources available to Seatankers
in order to assist with the continued development and growth of
Seadrill and Golar, including their listed subsidiaries and
affiliated companies.
Mr Trøim will continue as Vice Chairman in Golar
LNG Ltd. and Seadrill Ltd. He will also continue as Chairman of the
board in Golar LNG Partners LP and Seadrill Partners LLC. In
addition Mr Trøim will remain an ordinary Board member in
SapuraKencana Petroleum Berhad and Archer Limited. He is
furthermore expected to join the board of directors of North
Atlantic Drilling Ltd.
Tor Olav Trøim and John Fredriksen say in a joint
comment: "We have enjoyed 19 years of cooperation and are both
pleased with the achievements we have made during this period. We
look forward to continuing our successful partnership, albeit in a
different format in the future."
Mr Trøim wants to give a separate thank you to
John Fredriksen for the opportunity he was given when he was hired
by the Seatankers Group in 1995 and also for the dynamic working
relationship and freedom he has enjoyed in his position. "It has
been a pleasure to work with great colleagues and some of the best
management teams in the world to develop industry leading companies
within the Shipping, Offshore and Salmon industry." Mr Trøim
says.
Mr Trøim has, in connection with the change of
role, today acquired 3,000,000 shares in Golar LNG and 2,000,000
shares in Seadrill from World Shipholding and Hemen
Holding.
Hemen Holding Ltd's affiliated ownership in
Seadrill following this transaction is 113,097,583 shares. In
addition, Hemen Holding holds TRS agreements, with exposure to
3,900,000 shares and Famatown owns call options over 2,023,465
shares. Mr Trøim's direct and indirect holding in Seadrill Limited
following this transaction is 2,635,000 shares. In addition Mr
Trøim holds call options over 1,011,732 shares and TRS agreements
with exposure to totally 600,000 shares in Seadrill Limited.
FORWARD LOOKING
STATEMENTS
This press release contains certain
forward-looking statements concerning future events and Seadrill's
operations, performance and financial condition. Forward-looking
statements include, without limitation, any statement that may
predict, forecast, indicate or imply future results, performance or
achievements, and may contain the words "believe", "anticipate",
"expect", "estimate", "project", "will be", "will continue", "will
likely result", "plan", "intend" or words or phrases of similar
meanings. These statements involve known and unknown risks and are
based upon a number of assumptions and estimates that are
inherently subject to significant uncertainties and contingencies,
many of which are beyond Seadrill's control. Actual results may
differ materially from those expressed or implied by such
forward-looking statements.
This information is subject of the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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: Seadrill Limited via Globenewswire
HUG#1840755