PROS -
Announces the completion of the application
period of the subsequent offering and the publication of an
additional prospectus supplement
Luxembourg, 6
December 2012: Reference is
made to the announcement by Prospector Offshore Drilling S.A. (the
"Company" or "PROS") on 5 December 2012 regarding the expiry of the
subscription period for shares in the subsequent offer (the "Offer
Shares") at 16:30 (CET) on 5 December 2012, pursuant to a
prospectus dated 20 November 2012 (the "Prospectus").
The Company hereby confirms that
the subscription period in the subsequent offering expired at 16:30
(CET) on 5 December 2012. The Company has received valid and
acceptable applications for a total of 2,202,948 Offer Shares with
resulting proceeds of NOK 20.9 million, net fees of NOK 0.8
million; this is based on an offer price of NOK 9.50 per Offer
Share, as set out in the Prospectus.
With further reference to the
Company's announcement on 5 December 2012 regarding a jacking
system update, the Company will, pursuant to applicable securities
law, issue an additional prospectus supplement (the "Prospectus
Supplement"). The Prospectus Supplement will be an update to the
Prospectus and the prospectus supplement dated 3 December 2012,
opening a two-day period in which applications made by Eligible
Investors in the Subsequent Offering may be withdrawn. The
Prospectus Supplement must be approved by the Luxembourg Commission
de Surveillance du Secteur Financier (the "CSSF") and passported
into Norway before it can be published.
It is expected that the
Prospectus Supplement will be published on or about 12 December
2012, with the specified two-day withdrawal period following
immediately thereafter. As such, certain dates projected in the
Prospectus and in previous announcements by the Company regarding
the allocation, payment debiting and issuance of Offer Shares in
respect of the subsequent offering will be amended. The Company
currently estimates that the new projected dates will be as
follows:
· The final number of
Offer Shares to be allocated, and the allocation of such Offer
Shares, will be announced on or about [14] December 2012;
· The debiting of the
specified bank accounts will take place on or about [18] December
2012; and
· The delivery of the
Offer Shares will take place on or about [21] December 2012.
For the sake of good order the
Company emphasizes that the above-mentioned dates may vary,
depending on how quickly the approved Prospectus Supplement can be
announced.
About PROS:
PROS is a high specification jack-up drilling
contractor. PROS has contracts for the construction of six F&G
JU2000E high specification, harsh environment (HS/HE) jack-ups with
deliveries commencing Q1 2013; the sale of shares of two of the rig
owning subsidiaries is pending. Additionally, PROS has options for
six rigs of the same design. Upon deployment, PROS will have the
newest fleet of HS/HE jack-ups in the world, operating with the
most advanced drilling systems under a proven management team.
This press release contains forward-looking
statements that involve risks and uncertainties. You are cautioned
not to put undue reliance on forward-looking statements because
actual events and results may differ materially from the expected
results described by such forward-looking statements. Prospector
Offshore Drilling S.A. disclaims any obligation to update and
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact:
Steven A. Manz
Chief Financial Officer
Prospector Offshore Drilling S.A.
Tel: +1 281 560 8010
This information is subject
of the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.