Arctic Securities acted as Joint Manager in relation to the Private Placement of 17,600,000 new shares in Awilco Drilling PLC. The Company raised gross proceeds of USD 65 million (approximately NOK 500 million), which will be used to part finance the equity requirement for the building of a new semisubmersible drilling rig for harsh environment use. The rig will be built by KeppelFELS in Singapore at a price of approximately USD 425 million, with planned delivery in 2021. In connection with entering into a Letter of Intent for such newbuilding, the Company has negotiated options to build up to three additional rigs of similar design.