Bermuda’s Seadrill involved in settlement deal

Posted by on Oct 5, 2010 in Local News & Alerts | 0 comments

By Reuters News Agency

Drew Investment Ltd, a company controlled by Bermuda’s Seadrill Director Tor Olav Trøim, has settled a Total Return Swap (TRS) agreement.

It involves an underlying 400,000 shares expiring October 1th, 2010 and Drew subsequently entered into a new agreement with exposure to the same number of underlying shares 400,000.

The new expiry date is January 6, 2011, and new TRS price is NOK 170,7704 Trøim’s direct and indirect holding in Seadrill Limited following this transaction is 635,000 shares.

Trøim controls after this in addition TRS agreements with exposure to totally 400,000 shares in Seadrill Limited. These numbers remain unchanged after the transaction.

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