NADL - NADL Announces Receipt of NYSE Delisting Notice
(Thomson Reuters ONE) -
Hamilton, Bermuda, September 18, 2017 - North Atlantic Drilling Ltd. ("NADL" or
the "Company"), a majority owned subsidiary of Seadrill Limited, announces today
that the Company received a written notice from NYSE Regulation that its common
stock is no longer suitable for listing pursuant to Listed Company Manual
Section 802.01D because of the Company's announcement on September 12, 2017 that
the Company and other consolidated subsidiaries of Seadrill Limited (NYSE: SDRL)
filed prearranged chapter 11 cases in the Southern District of Texas. In
reaching its delisting determination, NYSE Regulation noted that the
shareholders of the Company will receive no recovery and therefore continued
listing is no longer suitable. NYSE Regulation has informed the Company that
application to the Securities and Exchange Commission to delist the Company's
common stock is pending the completion of all applicable procedures, including
any appeal by the Company of NYSE Regulation's decision.
FORWARD LOOKING STATEMENTS
This news release includes forward looking statements. Such statements are
generally not historical in nature, and specifically include statements about
the Company's plans, strategies, business prospects, changes and trends in its
business, the markets in which it operates and its restructuring efforts. These
statements are made based upon management's current plans, expectations,
assumptions and beliefs concerning future events impacting the Company and
therefore involve a number of risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed or implied in the
forward-looking statements, which speak only as of the date of this news
release. Consequently, no forward-looking statement can be guaranteed. When
considering these forward-looking statements, you should keep in mind the risks
described from time to time in the Company's filings with the Securities and
Exchange Commission, including its Annual Report on Form 20-F (File No.
001-36277). The Company undertakes no obligation to update any forward looking
statements to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated events. New
factors emerge from time to time, and it is not possible for the Company to
predict all of these factors. Further, the Company cannot assess the impact of
each such factor on its business or the extent to which any factor, or
combination of factors, may cause actual results to be materially different from
those contained in any forward looking statement.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: North Atlantic Drilling Ltd. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 18.09.2017 - 12:50 Uhr
Sprache: Deutsch
News-ID 560259
Anzahl Zeichen: 3405
contact information:
Town:
Stavanger
Kategorie:
Business News
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"NADL - NADL Announces Receipt of NYSE Delisting Notice"
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