SDSD - Share buy-back program
2020-12-08 08:30:00
S.D Standard Drilling Plc (the "Company") has authorized a share buy-back
program to purchase up to an aggregate of 14,284,499 shares of the Company's
common shares for the purpose of increasing shareholder value. <br />
<br />
If the amount of shares is purchased in full, the Company will hold a total of
57,602,642 shares, corresponding to 10% of the outstanding shares in the
Company. Reference is made to the stock exchange release as of 20 November
2020.<br />
<br />
The minimum and maximum amount to be paid per share is further described in the
minutes from the Annual General Meeting held 3 June 2020. The timing and amount
of any repurchases will depend on legal requirements, market conditions, stock
price, alternative uses of capital and other factors.<br />
<br />
The Company is not obligated under the terms of the program to repurchase any of
its common shares. The buy-back program will be initiated today and ends at the
latest 3 June, 2021.<br />
<br />
The shares that may be purchased will be proposed deleted by the general meeting
of the company through a capital reduction.<br />
<br />
For further information, please contact:<br />
<br />
General Manager, Evangelia Panagide at +357 99 77 11 16 <br />
Chairman of the Board, Martin Nes at +47 92 01 48 14<br />
<br />
The information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.