Hamilton, Bermuda, July 7, 2017 - North Atlantic Drilling Ltd. ("NADL" or "the Company") announces that an amendment has been agreed with Jurong Shipyard Pte Ltd ("Jurong"), to extend the delivery deferral period to January 6, 2018. The extension allows the parties to continue to explore commercial opportunities for the Unit.
As previously agreed, in the event no employment is secured for the Unit and no alternative transaction is completed, the Company and Jurong will form a Joint Asset Holding Company for joint ownership of the Unit, to be owned 23% by the Company and 77% by Jurong.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.