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News For PGN From The Last 14 Days
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February 19, 2015
16:21 EDTPGNParagon Offshore reports Q4 adjusted EPS 90c, consensus 78c
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February 17, 2015
05:33 EDTPGNParagon Offshore exercises squeeze-out rights after MTO
Paragon Offshore announces its decision to exercise its squeeze-out rights following the mandatory public tender offer, or MTO, to all remaining shareholders in Prospector Offshore Drilling S.A., a société anonyme incorporated under the laws of Luxembourg and registered with the Luxembourg register of commerce and companies under number B 153.772, having its registered office at 6, rue Eugène Ruppert, L-2453 Luxembourg with a subscribed share capital of $945,967.08. The MTO was launched by Paragon on December 15, 2014 and closed on January 12, 2015. Paragon hereby gives notice of the exercise of its squeeze-out rights in accordance with article 15 of the Luxembourg Law of 19 May 2006 on takeover bids. As a result, Paragon will acquire all the 362,279 shares in Prospector not tendered in connection with the MTO or which are not otherwise held or controlled by Paragon at a price in cash of NOK 14.50 per Remaining Prospector Share. The Squeeze-Out will be effective prior to trading on Oslo Axess on February 23. The Squeeze-Out Price corresponds to the price offered in the MTO. Pursuant to article 15(5), third paragraph, of the Takeover Law, this price is therefore deemed to be the fair price for the Remaining Prospector Shares.

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