Valaris Ltd — Director's Dealing 2019

Apr 11, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Ensco Rowan plc (ESV)
CIK: 0000314808
Period of Report: 2019-04-11

Reporting Person: Quintero Alan (SVP-Business Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-04-11	Class A Ordinary Shares	A	22506	—	Acquired	22506	Direct
2019-04-11	Class A Ordinary Shares	A	45959	—	Acquired	68465	Direct

Footnotes

F1: Pursuant to the Transaction Agreement, dated as of October 7, 2019, between Ensco plc ("Ensco") and Rowan Companies plc ("Rowan"), Ensco acquired the entire issued and to be issued share capital of Rowan on April 11, 2019 (the "Transaction"). At the effective time of the Transaction, each Class A ordinary share of Rowan issued and outstanding immediately prior to such time was converted into the right to receive 2.750 shares of Ensco's Class A ordinary shares. Immediately following the effective time of the Transaction, Ensco effected a consolidation whereby every four existing Class A ordinary shares of Ensco were consolidated into one Class A ordinary share of Ensco, and Ensco changed its name to "Ensco Rowan plc." On the trading day immediately prior to the effective time of the Transaction, the closing price of Ensco was $3.97 per share, and the closing price of Rowan was $10.93 per share.

F2: Represents Ensco restricted share units received by the reporting person at the effective time of the Transaction in exchange for his restricted share units to acquire 66,850 Class A ordinary shares of Rowan, which may be settled only in ordinary shares upon vesting.