SD Standard Drilling : SDSD- COMPLETION OF EXTRAORDINARY GENERAL MEETING

SDSD- COMPLETION OF EXTRAORDINARY GENERAL MEETING

10.01.2018 11:14

Limassol, Cyprus, 10 January 2018 Reference is made to the announcement made on 14 December 2017 regarding the notice for an extraordinary general meeting in S.D. Standard Drilling Plc. ('SDSD' or the 'Company'). The extraordinary general meeting in the Company has been held today. All resolutions were passed with the required majority in accordance with the proposals set out in the notice for the extraordinary general meeting. Consequently, the increase of the authorized share capital of the Company by USD 7,750,000 and 258,333,333 ordinary shares, from USD 15,500,000.001 divided by 516,666,667 shares to USD 23,250,000, divided into 775,000,000 ordinary shares of USD 0.03 each was approved. The Company has issued 509,359,757 ordinary shares and the number of authorized, but not issued, shares is thus 265,640,243 shares. Further, the Board of Directors was authorized to issue and allot new shares to existing shareholders and new investors for an indicative price range of the USD equivalent to NOK 0.20 - NOK 5.00 per share. The authorization is valid until the Company's annual general meeting in 2019. For further information please find attached the signed minutes of the extraordinary general meeting. For further information please contact: General Manager Evangelia Panagide at [phone], or Chairman of the Board Martin Nes at [phone] *** This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.