Since its original listing in 2011, the shares of Awilco Drilling PLC ("Awilco Drilling") have, in accordance with established market practice in the Norwegian market, been registered in Euronext Securities Oslo (the "VPS") by way of SSL registration, under which DNB Verdipapirservice, as the account operator of Awilco Drilling, has been registered as the nominal holder of all the shares of Awilco Drilling in the register of members, and beneficial interests representing the shares have been issued in the VPS.
As a result of the implementation of the EU Central Securities Depositories Regulation (Regulation EU no 909/2014), the SSL method of registration will no longer be permitted in Norway. Awilco Drilling has explored various alternatives for maintaining the VPS registration, and has concluded that the only feasible alternative is to structure the VPS registration by way of Norwegian Depository Receipts.
Since DNB Verdipapirservice currently does not offer Norwegian Depository Receipts as a product, Awilco Drilling will terminate the current registrar agreement with DNB Verdipapirservice effective from 1 November 2022 and has entered into a new registrar agreement with Nordic Issuer Services AS effective from the same date. Accordingly, Nordic Issuer Services AS will be the issuer account operator of Awilco Drilling from 1 November 2022, and will from this date be registered as the nominal holder of all the shares of Awilco Drilling in the register of members.
The change from SSL registration to registration of Norwegian Depository Receipts has not yet been implemented, but will be so before the deadline for ceasing SSL registration. Awilco Drilling will revert with further information once the time for change to Norwegian Depository Receipts has been determined.
Aberdeen, 1 November 2022
For further information, please contact:
Eric Jacobs, Interim CEO
Phone: +44 1224 737900
Cathrine Haavind, Investor Relations
Phone: +47 93 42 84 64
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.