ADES Completes Acquisition of Shelf Drilling, Cementing its Position as the Global Leader in Offshore Drilling
| Element List | Explanation |
|---|---|
| Previous Announcement | ADES Holding Company announces the latest development on the proposed merger with Shelf Drilling, Ltd. and confirms expected completion date |
| Date of Previous Announcement on Saudi Exchange’s Website | 2025-11-19 Corresponding to 1447-05-28 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | Reference is made to the stock exchange announcement as of November 19, 2025, regarding the latest development on the proposed merger with Shelf Drilling, Ltd. and expected completion date confirmation.
ADES is pleased to announce the successful completion of its acquisition of Shelf Drilling, Ltd. through a cash merger. The acquisition marks a pivotal step in ADES’ transformation, firmly establishing ADES as the global leader in offshore drilling, with a combined fleet of 83 offshore units (46 premium units) and 40 onshore rigs, now operating across 19 countries — up from 13 previously — making ADES one of the broadest and most geographically diversified offshore drilling platforms in the world with operations now spanning its home market in Saudi Arabia, the GCC, and key growth regions such as Southeast Asia and West Africa. |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There has been no change to the cost associated for the cash consideration of NOK 18.5 per share. |
| Attached Documents |  |
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