PROS - Announces the completion of the subsequent offering

PROS - Announces the completion of the subsequent offering

Luxembourg, 13 December 2012: Reference is made to the announcement on 21 November 2012 and 11 December 2012 regarding approval of a prospectus in relation to the listing of shares pursuant to the private placement of 36,000,000 shares in Prospector Offshore Drilling S.A (the "Company" or "PROS") and the subsequent offering of 2,800,000 shares in the Company to eligible shareholders. The withdrawal period following the publication of the prospectus supplement dated 10 December 2012 expired at 16:30 (CET) on 12 December 2012, and following such expiry the Company has received subscriptions with subscription rights for 2,202,598 shares at the purchase price of NOK 9.50 per share. As a result of the offering, the Company will receive proceeds of approximately USD 3.6 million, net of fees. Consequently, and following final board approval at a board meeting of the Company to take place next week, 2,202,598 shares in the Company will be issued to the subscribers of shares in the subsequent offering.

 

Following the subsequent offering, the total number of issued shares in the Company will be 94,497,598, each with a nominal value of USD 0.01.

About PROS:

PROS is a high specification jack-up drilling contractor.  PROS currently has contracts in place for the design, construction and delivery of four F&G JU2000E high specification, harsh environment (HS/HE) jack-up drilling  rigs.  The Company's first rig is scheduled for delivery commencing in the first quarter of 2013.  PROS also has option agreements for the construction of six additional rigs  of the same design.  Upon deployment of its rigs, PROS, under its proven management team, will have the newest fleet of HS/HE jack-up rigs in the world, operating with the most advanced drilling systems available in the industry.

This press release contains forward-looking statements that involve risks and uncertainties. You are cautioned not to put undue reliance on forward-looking statements because actual events and results may differ materially from the expected results described by such forward-looking statements. Prospector Offshore Drilling S.A. disclaims any obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

Contact:

Steven A. Manz

Chief Financial Officer

Prospector Offshore Drilling S.A.

Tel: [phone]

PROS_Announces the completion of the subsequent offering

---

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Prospector Offshore Drilling via Thomson Reuters ONE

HUG#1664909