Item 9.01
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Financial Statements and Exhibits.
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Exhibit
No.
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Description
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2.1*
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Arrangement Agreement, dated August 13, 2017, by and among Tesco Corporation, Nabors Industries Ltd, and Nabors Maple Acquisition Ltd.
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99.1
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Press Release of Tesco Corporation, dated August 14, 2017.
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99.2
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Presentation to Tesco Corporation Shareholders, dated August 14, 2017.
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99.3
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Statement to Tesco Corporation Employees, dated August 14, 2017.
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99.4
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Frequently Asked Questions to Tesco Employees, dated August 14, 2017.
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*
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Certain schedules have been omitted pursuant to Item 601(b)(2) of Regulation
S-K
under the Securities Exchange Act of 1934, as amended. The Company hereby undertakes to
supplementally furnish copies of any omitted schedules to the SEC upon request.
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No Offer or Solicitation
This report and the information attached hereto shall not constitute an offer to sell or the solicitation of any offer to buy any securities, nor shall there
be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Important Additional Information about the Arrangement
This report and the information attached hereto do not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of a
vote or proxy. The proposed transaction anticipates that the sale of Nabors shares will be exempt from registration under the Securities Act, pursuant to Section 3(a)(10) of the Securities Act. Consequently, the Nabors shares will not be
registered under the Securities Act or any state securities laws. In connection with the proposed transactions, the Company intends to file with the SEC a proxy statement in respect of the meeting of its security holders to approve the Arrangement,
and other relevant documents to be mailed by the Company to its security holders in connection with the Arrangement. The Companys proxy statement will also be filed with the Canadian securities regulators.
WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE PROXY STATEMENT AND ANY OTHER DOCUMENTS RELATED TO THE ARRANGEMENT WHEN THEY BECOME AVAILABLE, BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION about the Company, Nabors, and the proposed transactions. Investors and security holders will be able to obtain these materials (when they are available) and other documents filed with the SEC and the Canadian
securities regulators free of charge at the SECs website, www.sec.gov and at the System for Electronic Document Analysis and Retrieval (SEDAR) maintained by the Canadian Securities Administrators at www.sedar.com. In addition, a copy of the
Companys proxy statement (when it becomes available) may be obtained free of charge from the Companys investor relations website at http://www.tescocorp.com. Investors and security holders may also read and copy any reports, statements
and other information filed by the Company, with the SEC, at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at
1-800-SEC-0330
or visit the SECs website for further information on its public reference room.
Participants in the Solicitation
The Company and its directors, executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of
proxies for its security holder approvals to be obtained for the Arrangement. Information regarding the Companys directors and executive officers is available in its proxy statement filed with the SEC by the Company on March 27, 2017 in
connection with its 2017 annual meeting of shareholders. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the
proxy statement and other relevant materials to be filed with the SEC and the Canadian securities regulators when they become available. As noted above, you can obtain free copies of this document from the website maintained by the SEC at
www.sec.gov and from the Company using the contact information above.
Cautionary Language Regarding Forward-Looking Statements
This report contains forward-looking statements within the meaning of Canadian and United States securities laws, including the United States Private
Securities Litigation Reform Act of 1995. From time to time, our public filings, press releases and other communications (such as conference calls and presentations) will contain forward-looking statements. Forward-looking information is often, but
not always identified by the use of words such as anticipate, believe, expect, plan, intend, forecast, target, project, may,
will, should, could, estimate, predict or similar words suggesting future outcomes or language suggesting an outlook. Forward-looking statements in this press release include, but are not
limited to, statements with respect to expectations of our prospects, future revenue, earnings, activities and technical results.
Such forward-looking
statements may include, but are not limited to, statements regarding the expected timing of the completion of the Arrangement; the ability to complete the Arrangement considering the various closing conditions; the benefits of such transaction and
its impact on the participants businesses; various events which could disrupt the Companys or Nabors operations; any projections of economic prospects, earnings, revenues or other financial items; any statements regarding the
plans, strategies and objectives for future operations; any statements of expectation or belief; any statements regarding general industry conditions and competition; any statements regarding economic conditions, such as interest rate, commodity
prices and currency exchange rate fluctuations; any statements regarding timing of development or potential expansion or improvements; any statements regarding commodity prices; and any statements of assumptions underlying any of the foregoing. In
addition, if and when the Arrangement is consummated, there will be risks and uncertainties related to Nabors ability to successfully integrate the operations and employees of Nabors and the Company as well as the ability to ensure continued
performance or market growth of the Companys business and operations.
Forward-looking statements and information are based on current beliefs as
well as assumptions made by, and information currently available to, us concerning anticipated financial performance, business prospects, strategies and regulatory developments. Although management considers these assumptions to be reasonable based
on information currently available to it, they may prove to be incorrect. The forward-looking statements in this report are made as of the date it was issued and we do not undertake any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
By their very
nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks that outcomes implied by forward-looking statements will not be achieved. We caution readers not to place undue reliance on these
statements as a number of important factors could cause the actual results to differ materially from the beliefs, plans, objectives, expectations and anticipations, estimates and intentions expressed in such forward-looking statements.
These risks and uncertainties include, but are not limited to, the impact of: levels and volatility of oil and gas prices; cyclical nature of the energy
industry and credit risks of our customers; fluctuations of our revenue and earnings; operating hazards inherent in our operations; changes in governmental regulations, including those related to the climate and hydraulic fracturing; consolidation
or loss of our customers; the highly competitive nature of our business; technological advancements and trends in our industry, and improvements in our competitors products; global economic and political environment, and financial markets;
terrorist attacks, natural disasters and pandemic
diseases; our presence in international markets, including political or economic instability, currency restrictions and trade and economic sanctions; cybersecurity incidents; protecting and
enforcing our intellectual property rights; changes in, or our failure to comply with, environmental regulations; failure of our manufactured products and claims under our product warranties; availability of raw materials, component parts and
finished products to produce our products, and our ability to deliver the products we manufacture in a timely manner; retention and recruitment of a skilled workforce and key employees; and ability to identify and complete acquisitions. These risks
and uncertainties may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. When relying on our forward-looking statements to make
decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
Copies of our Canadian
public filings are available through www.tescocorp.com and on SEDAR at www.sedar.com. Our U.S. public filings are available at www.sec.gov and through www.tescocorp.com.
The risks included here are not exhaustive. Refer to Part I, Item 1A - Risk Factors in our most recent Annual Report on Form
10-K
and each subsequent Quarterly Report on Form
10-Q
for further discussion regarding our exposure to risks. Additionally, new risk factors emerge from time to time and it
is not possible for us to predict all such factors, nor to assess the impact such factors might have on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in
any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.