Shelf Drilling, Ltd. - Publication of Exempted Document in relation to the acquisition of Shelf Drilling (North Sea), Ltd.

08 Oct 2024 08:10 CEST

Shelf Drilling, Ltd. - Publication of Exempted Document in relation to the
acquisition of Shelf Drilling (North Sea), Ltd.

Dubai, October 8, 2024 – Reference is made to the stock exchange announcement as
of September 16, 2024 regarding an agreement and plan of merger entered into
between Shelf Drilling, Ltd. ("Shelf Drilling" or the "Company"), an indirect
subsidiary of Shelf Drilling (“MergerSub”), and Shelf Drilling (North Sea), Ltd.
("Shelf Drilling North Sea") whereby pursuant to the contemplated merger of
MergerSub with and into Shelf Drilling North Sea, Shelf Drilling North Sea will
become a wholly owned subsidiary of Shelf Drilling (the “Proposed Merger”).

Pursuant to and in accordance with Article 1(5)(f) of Regulation (EU) 2017/1129
(the "EU Prospectus Regulation") and the European Commission's delegated
regulation (EU) 2021/528 of 16 December 2020, Shelf Drilling has prepared an
exempted document in connection with the Proposed Merger and the listing of the
consideration shares issued thereunder (the "Exempted Document").

The Exempted Document is not a prospectus and has not been reviewed or approved
by the Norwegian Financial Supervisory Authority or any other regulatory
authority. The Exempted Document has been prepared solely for use in connection
with the admission to listing of new Shelf Drilling common shares expected to be
issued upon completion of the Proposed Merger.

The Exempted Document has been made available on the Company's website, at
https://www.shelfdrilling.com/investor-relations/ (under Financial Reports > Key
Documents tab).

For further information, please contact: investor.relations@shelfdrilling.com

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa, Mediterranean and North Sea. Shelf Drilling was founded in 2012 and has
established itself as a leader within its industry through its fit-for-purpose
strategy and close working relationship with industry leading clients. Shelf
Drilling is incorporated under the laws of the Cayman Islands with corporate
headquarters in Dubai, United Arab Emirates. The company is listed on the Oslo
Stock Exchange under the ticker “SHLF”.

About Shelf Drilling North Sea
Shelf Drilling North Sea is a shallow water offshore drilling contractor
primarily operating in the North Sea. The company's fit-for-purpose strategy and
fleet of modern high-specification harsh environment jack-up rigs enable it to
offer a broad range of services in the shallow water drilling markets. Shelf
Drilling North Sea is incorporated under the laws of Bermuda. Since October 12,
2022, the company shares are listed on the Euronext Growth Oslo Exchange under
the ticker symbol SDNS.

Forward Looking Statement:
All statements in this press release other than statements of historical fact
are forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict and are based upon
assumptions as to future events that may not prove accurate. These factors
include volatile market conditions, investment opportunities in new and existing
markets, demand for licensing of data within the energy industry, operational
challenges, and reliance on a cyclical industry and principal customers. Actual
results may differ materially from those expected or projected in the forward-
looking statements. Shelf Drilling and Shelf Drilling North Sea undertakes no
responsibility or obligation to update or alter forward-looking statements for
any reason.

More information:
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