, November 17, 2015

Completion of Merger and Notice of DeListing

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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

17 NOVEMBER 2015

EURASIA DRILLING COMPANY LIMITED

APPROVAL OF THE MERGER AND CANCELLATION OF LISTING

Eurasia Drilling Company Limited (the "Company") hereby announces that on 16 November 2015, the Cayman Islands Registrar of Companies registered the plan of merger in respect of the merger (the "Merger") between the Company and EDC Acquisition Company Limited ("EACL"), a company formed by one of the significant shareholders of the Company solely for the purposes of the Merger, and issued a certificate of merger, whereupon the Merger became effective. The Company will settle payment of the merger consideration payable to shareholders of the Company in accordance with the terms and conditions of the Merger today 17 November 2015, including making payment to The Bank of New York Mellon as depositary for the GDR programme (the "Depositary"). The Depositary will call for the surrender of all outstanding global depositary receipts ("GDRs") and is expected to pay the merger consideration received from the Company to GDR holders on or around Friday 20 November 2015.

Further, on 12 October 2015, the Company announced that it intended to cancel the listing of the GDRs on the Official List of the UK Financial Conduct Authority and the admission of the GDRs to trading on the London Stock Exchange (the "GDR Delisting"), subject to the Merger becoming effective. The Merger has now become effective and the GDR Delisting shall take effect from 7 a.m. (GMT) on 18 November 2015.

Enquiries:

Eurasia Drilling Company Limited

Tom O'Gallagher, VP Investor Relations

+44 (0) 20 7717 9707

investors.relations@eurasiadrilling.com


 

Hudson Sander (media enquiries for the Company)

Andrew Hayes / Elena Garside

+44(0) 20 7796 4133

 

 

XENON Capital Partners LLC

Natasha Tsukanova, Managing Director

Andrey Bulanov, Vice President

+ 7 495 644 00 10

 

 

 

Next: 18 November 2015: Notice of Cancellation of Listing from the Official List (LSE)