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Weatherford Ireland Succeeds Weatherford Switzerland As Weatherford Parent Company

Stocks in this article: WFT

GENEVA, June 17, 2014 /PRNewswire/ -- Weatherford International plc, formed in Ireland (NYSE: WFT), announced today that the shareholders of its predecessor company Weatherford International Ltd., formed in Switzerland, have approved changing its place of incorporation from Switzerland to Ireland. This action was taken at an Extraordinary General Meeting of Shareholders held yesterday at which the proposal was overwhelmingly approved by over 98% of the shareholders voting.  Earlier today, Weatherford Switzerland merged into Weatherford Ireland, which has now become the parent of the Weatherford International group of companies.

Weatherford logo

With the completion of the merger mentioned above, the parent company of the Weatherford International group of companies continues to be subject to U.S. Securities and Exchange Commission ("SEC") reporting requirements as well as the rules of the New York Stock Exchange (the "NYSE"), and its ordinary shares will be exclusively listed on the NYSE under the symbol "WFT."  As previously announced, Weatherford's shares have been delisted from the NYSE Euronext Paris, and Weatherford also expects to delist its shares from the SIX Swiss Exchange on or about June 19, 2014.

For full details of the change in place of incorporation, please refer to Weatherford's proxy statement/prospectus regarding the Extraordinary General Meeting of Shareholders filed with the SEC on April 17, 2014.

About Weatherford

Weatherford is one of the largest multinational oilfield service companies. Weatherford's product and service portfolio spans the lifecycle of the well, and includes formation evaluation, well construction, completion and production. Weatherford provides innovative solutions, technology and services to the oil and gas industry, and operates in over 100 countries currently employing more than 60,000 people worldwide.

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