Shelf Drilling Finalizes Merger with North Sea Subsidiary

Shelf Drilling (SHLLF) has released an update.

Shelf Drilling, Ltd. is set to complete a merger with Shelf Drilling (North Sea), Ltd. on October 11, 2024, making the latter a wholly owned subsidiary and resulting in a combined share capital of up to USD 2,556,909,17. The merger includes a consideration for Shelf Drilling North Sea shareholders of 1.05 Shelf Drilling shares plus NOK 8.00 in cash for each share held. Trading of Shelf Drilling North Sea shares will be suspended after the merger’s effective date to prevent uncovered trades.

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