Archer Limited : Allocation to primary insiders in the Private Placement and grant of options
Hamilton, Bermuda (March 1, 2017) Reference is made to the stock exchange notice published by Archer Limited (the "Company") on March 1, 2017 regarding the result of the Private Placement. Primary insiders in the Company have today been allocated Shares in connection with the Private Placement as follows: Ørjan Svanevik, Chairman of Archer Limited has subscribed to and has been allocated 1,040,000 shares at a subscription price per share of NOK 10.00. Mr. Svanevik has subsequently sold 1,040,000 shares and entered into a TRS agreement with exposure to the same number of underlying