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HAMILTON, Bermuda, June 4, 2014 (GLOBE NEWSWIRE) -- Seadrill Limited ("the Company") has through market purchases executed on June 3, repurchased 200,000 of the Company's own common stock at an average price of NOK232.3 per share.
In connection with the Company's Employee Share Ownership Plan (ESOP), eligible option holders have exercised options to acquire 457,102 common shares at strike prices varying from NOK8.99 to NOK202.10 per share. The Company has used treasury shares to settle the obligation related to the share option plan.
After these transactions the Company has a holding of 364,214 treasury shares.
Additionally, the Company has settled a Total Return Swap agreement (TRS) expiring on June 3, 2014 with 4,200,000 common shares in Seadrill Limited as underlying security. Seadrill has subsequently entered into a new TRS agreement with exposure to 4,000,000 Seadrill Limited common shares expiring on September 3, 2014 with a reference price of NOK234.2713 per share. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.