March 7, 2019 / 7:10 AM / 3 months ago

BRIEF-Seadrill: Hemen Settles Total Return Swap Agreements

March 7 (Reuters) - Seadrill Ltd:

* SAID ON WEDNESDAY HEMEN SETTLED TOTAL RETURN SWAP (TRS) AGREEMENTS UNDERLYING 3 MLN SHARES IN SEADRILL LIMITED EXPIRING MARCH 6TH, 2019

* SUBSEQUENTLY ENTERED NEW TRS AGREEMENT UNDERLYING THE SAME NUMBER OF SHARES 3 MLN

* NEW EXPIRY DATE IS JUNE 6TH, 2019 AND NEW TRS PRICE IS NOK 77.7621 PER SHARE

* HEMEN WILL HAVE AN AFFILIATED OWNERSHIP IN SEADRILL OF 27.2 MLN SHARES, EQUAL TO 27.19 PCT OF ISSUED SHARES AND VOTES IN CO, AND HOLD TRS AGREEMENTS WITH UNDERLYING EXPOSURE TO 3 MLN SHARES

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Further company coverage: (Gdynia Newsroom)

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