Archer Limited : Mandatory notification of trade
February 11, 2013
Reference is made to the notification dated February 8, 2013, regarding the completion of a private placement in Archer Limited (the "Company", OSE: ARCHER). The allocation of shares mentioned in the following, is conditional on the Company's shareholders resolving to increase the Company's authorized share capital and to reduce the par value of the Company's authorized and issued shares at the special general meeting to be held on February 13, 2013.
Seadrill Limited ("Seadrill") has today been allocated 82,003,000 shares in the private placement of Archer Limited. The shares were acquired at price USD 1.20 per share. Furthermore, Seadrill will receive 2,811,793 shares in Archer as compensation for underwriting parts of the private placement.
Following this purchase and the receipt of the underwriting commission, Seadrill will be the owner of 231,053,239 shares in the Company, corresponding to 39.9% of the total number of outstanding shares in the Company.
Lime Rock Partners V L.P. ("LRP"), a Cayman Island based investment fund managed by Lime Rock Management LP ("LRM", and together with LRP "Lime Rock") has today been allocated 20,833,000 shares in the private placement of Archer Limited. The shares were acquired at price USD 1.20 per share.
Furthermore, LRP will receive 416,658 shares in Archer as compensation for underwriting parts of the private placement.
Following this purchase and the receipt of the underwriting commission, LRP will be the owner of 66,351,525 shares in the Company, corresponding to 11.46% of the total number of outstanding shares in the Company. LRP is represented in Archer Limited's board of directors through Messrs. Saad Bargach and John T. Reynolds.
Mr. Fredrik Halvorsen, Vice Chairman and CEO and primary insider of Archer Limited, has today been allocated 116,000 shares in the private placement of Archer Limited. The shares were acquired at price USD 1.20 per share.
After this transaction, Mr. Fredrik Halvorsen will hold directly and indirectly 116,000 shares and 1,000,000 stock options in Archer.
Drew Investment Limited, a company controlled by Mr. Tor Olav Trøim, director and primary insider of Archer Limited, has today been allocated 233,000 shares in the private placement of Archer. The shares were acquired at price USD 1.20 per share.
After this transaction, Mr. Tor Olav Trøim will hold directly and indirectly 433,000 shares and 50,000 stock options in Archer Limited.
Mr. Olivier Muller, President Emerging Markets & Technologies and EVP and primary insider of Archer Limited has today been allocated 12,000 shares in the private placement of Archer Limited. The shares were acquired at price USD 1.20 per share.
After this transaction, Mr. Olivier Muller will hold directly and indirectly 12,000 shares and 160,000 stock options in Archer Limited.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.