PROS - Announces the completion of the sale of two of Company's Subsidiaries
December 11 2012 - 1:36AM
PROS - Announces
the completion of the sale of two of Company's
Subsidiaries
Luxembourg, 11
December 2012: Prospector
Offshore Drilling S.A. (the "Company" or "PROS") announced today
that the sale of two of its subsidiaries has been completed.
Reference is made to the Company's
stock exchange notices on 23 and 25 October 2012 and on 27 November
2012, regarding the sale and purchase agreements entered into with
Tabasco Jackup, S.A. de C.V. and Campeche Jackup, S.A. de C.V. in
respect of two of the Company's subsidiaries, each holding one rig
under construction at Dalian Shipbuilding Industry Offshore Co.,
Ltd. (the "Rig 2 Transaction" and the "Rig 4 Transaction").
Both the Rig 2 Transaction and the
Rig 4 Transaction have now been completed in accordance with the
provisions of the respective sale and purchase agreements. The
Company's aggregate net proceeds is approximately USD 106.6 million
and the Company will recognize an aggregate gain of approximately
USD 62.9 million based on the first instalment under each of the
construction contracts, project management costs incurred to date,
broker commissions, taxes and professional fees.
About
PROS:
PROS is a high specification
jack-up drilling contractor. PROS currently has contracts in place
for the design, construction and delivery of four F&G JU2000E
high specification, harsh environment (HS/HE) jack-up drilling
rigs. The Company's first rig is scheduled for delivery commencing
in the first quarter of 2013. PROS also has option agreements for
the construction of six additional rigs of the same design. Upon
deployment of its rigs, PROS, under its proven management team,
will have the newest fleet of HS/HE jack-up rigs in the world,
operating with the most advanced drilling systems available in the
industry.
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.
PROS_Announces completion of sale
of two Subsidiaries
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Prospector Offshore Drilling via Thomson Reuters
ONE
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