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S.D. STANDARD DRILLING PLC.: FINAL RESULT OF THE SUBSEQUENT OFFERING

Limassol, January 23, 2017

Reference is made to previous announcements by S.D. Standard Drilling Plc. (the "Company") relating to the subsequent offering (the "Subsequent Offering") of up to 9,500,000 new shares (the "Offer Shares") for gross proceeds of up to NOK 6,175,000. The subscription price in the Subsequent Offering was NOK 0.65, equal to the subscription price in the NOK 275 million private placement completed on 9 December 2016.

The subscription period for the Subsequent Offering ended on 20 January 2017 at 16.30 hours (CET). At the end of the subscription period, the Company had received subscriptions for a total of 5,438,304 Offer Shares. Allocation of 5,438,304 Offer Shares in the Subsequent Offering was approved by the Board of Directors on 22 January 2017. The Subsequent Offering thus raised gross proceeds of approx. NOK 3.53 million.

Payment for the allocated Offer Shares falls due on 25 January 2017. Letters of allocation will be distributed to investors today, which will give notification of allocated Offer Shares and the corresponding amount to be paid by each subscriber. The Offer Shares issued through the Subsequent Offering will be registered on the Company's ISIN CY0101550917 with the VPS and be traded on Oslo Axess under the Company's trading symbol "SDSD". This is expected to occur on or about 30 January 2017. Clarksons Platou Securities AS acted as manager for the Subsequent Offering. For further information please contact: General Manager Evangelia Panagide at +357 99 77 11 16, or Chairman of the Board Martin Nes at +47 92 01 48 14

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This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

SD Standard Drilling plc published this content on 23 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 January 2017 08:15:02 UTC.

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