Shelf Drilling (North Sea), Ltd. - Last day of trading including right to merger consideration and key information relating to new ISIN

11 Oct 2024 07:58 CEST

PRESS RELEASE

SHELF DRILLING (NORTH SEA), LTD. – LAST DAY OF TRADING INCLUDING RIGHT TO MERGER
CONSIDERATION AND KEY INFORMATION RELATING TO NEW ISIN

Dubai, October 11, 2024 – Reference is made to the stock exchange announcement
as of September 16, 2024 regarding an agreement and plan of merger (the “Merger
Plan”) entered into between Shelf Drilling, Ltd. (“Shelf Drilling”), 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”).

Reference is also made to the subsequent announcement as of September 18, 2024,
related to the notice for the Special General Meeting of Shelf Drilling North
Sea to approve the Merger Plan, the Statutory Merger Agreement (as defined
therein) and the Proposed Merger (together, the “Merger Proposal”) and the
announcement as of October 10, 2024 related to the adoption of and approval of
the Merger Proposal by the Special General Meeting of Shelf Drilling North Sea.

Today October 11, 2024, is the last day of trading in Shelf Drilling North Sea
including the right to merger consideration.

The settlement process of the Proposed Merger in the VPS entails a change of the
ISIN code for the Shelf Drilling North Sea common shares traded on the Oslo
Stock Exchange.

Please note the following key information regarding the ISIN change:
Issuer: Shelf Drilling (North Sea), Ltd.
Previous ISIN: BMG236541097
New ISIN: BMG236541170
Date of ISIN change: 15 October 2024

As announced in the stock exchange announcement as of October 4, 2024,
containing "key dates" for the Proposed Merger, shareholders of Shelf Drilling
North Sea, except shareholders being part of the Shelf Drilling group, will
cease to have any rights to shares in Shelf Drilling North Sea following the
effective time of the Proposed Merger. However, this will not necessarily be
visible to such shareholders through various brokerage systems until after the
record date (15 October 2024), in line with the standard T+2 settlement cycle in
Euronext VPS. Consequently, and to avoid any uncovered trades, the Oslo Stock
Exchange will suspend trading in Shelf Drilling North Sea on T+1 and T+2 (14 and
15 October 2024).

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

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. The
company is incorporated under the laws of Bermuda. Since October 12, 2022,
company shares are listed on the Euronext Growth Oslo Exchange under the ticker
symbol SDNS.


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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