Correction: Awilco Drilling Plc -- Change Of Isin And Method Of Vps Registration -- Reverse Split - Transfer Of Listing To Euronext Growth -- Contemplated Private Placement
December 13 2022 - 8:28AM
UK Regulatory
TIDMAWDR
Reference is made to the announcement on 23 November 2022 that
Awilco Drilling PLC ("Awilco Drilling") intended to apply for a
transfer of its listing from Oslo Børs to Euronext Growth Oslo and
to the announcement on 1 November 2022 that Awilco Drilling will
change its structure of VPS registration to Sponsored Norwegian
Depository Receipts ("SNDRs").
The first day of trading on Euronext Growth Oslo is expected to
occur on 16 December 2022 and the last day of trading on Oslo Børs
is expected to be on 15 December 2022.
Following the listing on Euronext Growth Oslo, Awilco Drilling
expects to carry out an equity offering of approx. USD 10 million,
expected to be structured as combination of a private placement and
a subsequent repair offering.
As from the first day of trading on Euronext Growth Oslo, Awilco
Drilling will change the form of registration of its securities
with Euronext Securities Oslo (the "VPS") from SSL registration of
beneficial interests in Awilco Drilling's shares to SNDRs
representing Awilco Drilling's shares. This will also result in a
change of ISIN. As described in the press related dated 1 November
2022, the change of registration to SNDRs is necessary as a result
of the implementation of the EU Central Securities Depositories
Regulation (Regulation EU no 909/2014) in Norway.
Key information relating to change to SNDRs and related change
of ISIN:
Issuer name: Awilco Drilling PLC
Issuer of the SNDRs: Nordic Issuer Services AS
Last day of trading under previous ISIN and on SSL registration
basis: 15 December 2022
First day of trading under new ISIN and as SNDRs: 16 December
2022
Date of ISIN change: 16 December 2022
Previous ISIN: GB00B5LJSC86
New ISIN: NO0012740218
Further, due to technical reasons, Awilco Drilling will be
traded with temporary ticker code AWDRT as from 15 December 2022.
As from 16 December 2022, Awilco Drilling will be traded with the
ordinary ticker code AWDR.
Following the change of registration to SNDRs, the 100:1 reverse
share split approved at the extraordinary general meeting on 8
December 2022 will be implemented. This will entail a new change of
ISIN.
Key information relating to the reverse split:
Issuer name: Awilco Drilling PLC
Issuer of the SNDRs: Nordic Issuer Services AS
Reverse split ratio: 100 old SNDRs give 1 new SNDR (100:1)
Last day including right - reverse split: 19 December 2022
Ex date - reverse split: 20 December 2022
Record date for reverse split: 21 December 2022
Date on which reverse split was approved: 8 December 2022
Previous ISIN: NO0012740218
New ISIN: NO0012785098
Date of ISIN change: 21 December
The above time line is subject to the admission to trading to
Euronext Growth Oslo taking place on 16 December 2022 as planned.
In case of any delay in the timeline, updated information will be
provided.
The issuer of the SNDRs will be Nordic Issuer Services AS, which
is Awilco Drilling's issuer account operator in the VPS. Nordic
Issuer Services AS will continue to be registered as the nominal
holder of all the shares of Awilco Drilling.
Sponsored Norwegian Depository Receipts ("SNDR") issued in the
ES-OSL register have certain limitations and risks. You can read
more about these limitations and risks in Nordic Issuer Services
AS' general business terms available at www.nordicissuer.com.
A copy of the terms and conditions of the Sponsored Norwegian
Depository Receipts for Awilco Drilling is attached to this notice,
and the terms and conditions are also available at the website of
Awilco Drilling, www.awilcodrilling.com.
The holders of SNDRs must look solely Nordic Issuer Services, as
the issuer of the SNDRs, for payment of dividends, the exercise of
voting rights and for all other rights arising in respect of the
underlying shares in Awilco Drilling, on the basis of which the
SNDRs are issued.
Aberdeen, 13 December 2022
For further information, please contact:
Eric Jacobs, Interim CEO
Phone: +44 1224 737900
Cathrine Haavind, Investor Relations
Phone: +47 93 42 84 64
Email: ch@awilcodrilling.com (mailto:ch@awilcodrilling.com)
This information is subject of the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
Attachment
-- Terms and conditions AWDR agreement with account operator and issuer NIS
https://ml-eu.globenewswire.com/Resource/Download/c42f4453-2c87-4837-a591-e00e08f22315
(END) Dow Jones Newswires
December 13, 2022 08:28 ET (13:28 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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