NADL - North Atlantic Drilling Ltd. announces amendment to agreement with Jurong Shipyard
June 07 2016 - 1:30AM
Hamilton,
Bermuda, June 7, 2015 - North Atlantic Drilling Ltd.
("NADL" or "the Company") refers to the press release on December
3, 2015 which announced a standstill agreement to defer delivery of
the semi-submersible West Rigel ("the Unit").
Today the Company announces an
amendment has been agreed with Jurong Shipyard Pte Ltd ("Jurong"),
which extends the delivery deferral period by a further three
months to September 2, 2016. The extension allows the parties to
continue to explore commercial opportunities for the Unit.
As previously agreed, in the event
no employment is secured for the Unit and no alternative
transaction is completed, the Company and Jurong will form a Joint
Asset Holding Company for joint ownership of the Unit, to be owned
23% by the Company and 77% by Jurong.
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 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: North Atlantic Drilling Ltd. via
Globenewswire
HUG#2018414
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