Seadrill Limited - Delisting Announcement 2015

The Board of Directors of Oslo Børs resolved to admit the shares in Sevan Drilling Limited to listing on Oslo Børs

"At its meeting on 26 May, the Board of Directors of

Oslo Børs resolved to admit the shares in Sevan

Drilling Limited to listing on Oslo Børs.

The Board agreed to exempt the company from the

requirement that a listed company must have been in

existence for at least three years, cf. section 2.3.1

and 2.3.2 and the requirement for three years

activity, cf. section 2.3.1 and 2.3.3 of the Oslo

Børs Listing Rules. The exemptions were granted

because the company's business has been in existence

for the required time, but has operated through a

different legal entity.

The Board stipulated that, prior to the first day of

listing the company must satisfy the requirements for

25 % spread of share ownership among the general

public, the number of shareholders, registration of

the share capital with Central Securities Depository

as specified in the sections 2.4.1, 2.4.2 and 2.4.7

of the Oslo Børs Listing Rules. Further, the Board

stipulated that the company must publish an approved

prospectus and the migration must be completed in

accordance with the plans prior to the first day of

listing.

The Board authorised the Chief Executive Officer of

Oslo Børs to fix the date of the first day of

listing, which is to be no later than 10 July 2015"

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