Archer Limited – Disclosure of large shareholdings
Reference is made to the stock exchange announcement made by Archer Limited (the "Company") on 7 March 2023 regarding the successful completion of a private placement (the "Private Placement") of 1,040,000,000 new common shares in the Company (the "New Shares") raising gross proceeds of USD 100 million. The Private Placement is divided in two separate tranches, where the first tranche consists of 618,800,000 New Shares and the second tranche ("Tranche 2") consists of 421,200,000 New Shares. Hemen Holding Ltd. ("Hemen") has been allocated 260,000,000 New Shares in Tranche 2 of the Private