LONDON--(BUSINESS WIRE)--
Ensco plc (NYSE: ESV) (“Ensco” or the “Company”) announced today that
Ensco shareholders voted to approve the allotment and issuance of Ensco
Class A ordinary shares to shareholders of Atwood Oceanics, Inc.
(“Atwood”) in connection with the all-stock acquisition of Atwood at the
Company’s general meeting of shareholders on 5 October 2017. The final
results of the general meeting of shareholders held today indicate that
65% of the shares cast at the meeting voted in favor of this proposal.
Carl Trowell, Ensco’s President and Chief Executive Officer, said, “We
are extremely pleased that Ensco shareholders recognized the strategic
and financial merits of our combination with Atwood. This transaction is
a significant milestone for Ensco as we continue to execute our
strategic plan to emerge from the market downturn as the clear leader in
the offshore drilling sector. By acquiring Atwood at a pivotal time in
the market cycle, we are purchasing high-quality assets at compelling
prices as values for the highest-specification assets are at a critical
inflection point. Additionally, these high-specification assets will
further our ability to meet increasing customer demand and strengthen
our competitive position, which coupled with significant expected
synergies, will generate meaningful, long-term value for all
shareholders.”
Separately, Atwood announced today that its shareholders voted to adopt
the merger agreement with Ensco at a special meeting of Atwood
shareholders.
Ensco expects that this transaction will be completed promptly, subject
to customary closing conditions.
The final voting results will be filed with the SEC in a Current Report
on Form 8-K and will also be available on the Investor Relations section
of Ensco’s website at www.enscoplc.com
after certification by Ensco’s inspector of elections.
About Ensco
Ensco plc brings energy to the world as a global provider of offshore
drilling services to the petroleum industry. For 30 years, the Company
has focused on operating safely and going beyond customer expectations.
Ensco is ranked first in total customer satisfaction in the latest
independent survey by EnergyPoint Research — the seventh consecutive
year that Ensco has earned this distinction. Operating one of the newest
ultra-deepwater rig fleets and a leading premium jackup fleet, Ensco has
a major presence in the most strategic offshore basins across six
continents. Ensco plc is an English limited company (England No.
7023598) with its corporate headquarters located at 6 Chesterfield
Gardens, London W1J 5BQ. To learn more, visit our website at www.enscoplc.com.
Forward-Looking Statements
Statements included in this release regarding the transaction, expected
synergies and other benefits, opportunities, and effects of the
transaction, the timing of the transaction, the financial performance
and other attributes of Ensco following the completion of the
transaction and other statements that are not historical facts, are
forward-looking statements (including within the meaning of Section 21E
of the Securities Exchange Act of 1934, as amended, and Section 27A of
the Securities Act of 1933, as amended). Forward-looking statements
include words or phrases such as “anticipate,” “believe,” “contemplate,”
“estimate,” “expect,” “intend,” “plan,” “project,” “could,” “may,”
“might,” “should,” “will” and words and phrases of similar import. These
statements involve risks and uncertainties including, but not limited
to, actions by regulatory authorities, rating agencies or other third
parties, actions by the respective companies’ security holders, costs
and difficulties related to integration of Atwood, delays, costs and
difficulties related to the transaction, market conditions, and Ensco’s
financial results and performance following the completion of the
transaction, satisfaction of closing conditions, ability to repay debt
and timing thereof, availability and terms of any financing and other
factors detailed in the risk factors section and elsewhere in Ensco’s
and Atwood’s Annual Report on Form 10-K for the year ended December 31,
2016 and September 30, 2016, respectively, and their respective other
filings with the Securities and Exchange Commission (the “SEC”), which
are available on the SEC’s website at www.sec.gov.
Should one or more of these risks or uncertainties materialize (or the
other consequences of such a development worsen), or should underlying
assumptions prove incorrect, actual outcomes may vary materially from
those forecasted or expected. All information in this release is as of
the date of the release. Except as required by law, Ensco disclaims any
intention or obligation to update publicly or revise such statements,
whether as a result of new information, future events or otherwise.
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Source: Ensco plc