Shelf Drilling, Ltd. Notice of Extraordinary General Meeting

SHELF DRILLING, LTD. (THE "COMPANY")

NOTICE OF EXTRAORDINARY GENERAL MEETING

NOTICE is hereby provided that the Company proposes to carry an Extraordinary
General Meeting of the Company to be held on November 30, 2022 on the places of work of
Walkers, 190 Elgin Avenue, George Town, Grand Cayman, KY1-9001, Cayman Islands
at 8:00 am (Cayman Islands time) for the aim of passing the next
resolutions:

As particular resolutions:

1. That, however something set out within the Articles of Association of the
Company (the "Articles") and pursuant to part 40B of the Companies Act (as
amended) of the Cayman Islands (the "Statute"), the Company is authorised to
proof and switch title to listed shares (as outlined within the Companies Act)
of the Company in accordance with the legal guidelines relevant to and the foundations and
rules of the Exchange (as outlined within the Articles) or another inventory
change on which the shares could also be listed sometimes.

2. That the Articles be and are hereby amended as follows:

The definition of "Register of Members" in Article 1.1 of the Articles be and is
hereby amended by inserting the phrases in CAPS as follows:

"Register of Members" means the register of Members maintained in accordance
with the Statute and consists of (besides the place in any other case said) any department or
duplicate register of Members OR ANY LISTED SHARES REGISTER (AS DEFINED IN THE
STATUTE).

Article 13 of the Articles be and is hereby amended by inserting the phrases in
CAPS as follows:

13.1 Except as supplied in these Articles (together with the provisions hereof
regarding the Preferred Shares), and any guidelines or rules relevant to
any Common Shares traded on the Exchange, Shares are transferable topic to the
consent of the Directors who could, of their absolute discretion, decline to
register any switch of Shares with out giving any cause; supplied that the
Directors shall consent to any switch made in accordance with the phrases of
these Articles regarding the switch of Preferred Shares, and any COMMON
SHARES (OR ANY helpful rights to Common Shares) traded on the Exchange. If
the Directors refuse to register a switch they shall notify the transferee
inside 20 days of such refusal. For the avoidance of doubt, nothing on this
Article 13.1 shall allow the Directors to say no to provide full impact to a
switch of Preferred Shares that complies with the provisions of Article 8 or
to a switch of COMMON SHARES (OR ANY helpful rights to Common Shares) that
are traded on the Exchange.

13.2 	The instrument of switch of any Share, aside from COMMON SHARES (OR ANY
helpful rights to Common Shares) traded on the Exchange, shall be in writing
and shall be executed by or on behalf of the transferor (and if the Directors so
require, signed by or on behalf of the transferee). The transferor shall be
deemed to stay the holder of a Share till the title of the transferee is
entered within the Register of Members. Transfers of COMMON SHARES (OR ANY
helpful rights to Common Shares) traded on the Exchange shall be effected in
accordance with any guidelines or rules relevant to such Shares.

The EU Central Securities Depository Regulation ("CSDR") has lately turn into
efficient beneath Norwegian legislation via provisions within the new Norwegian Central
Securities Depository Act. As a consequence of CSDR, the Company's present
set-up with depository receipts is now not permitted. The Company has a
transitional interval till December 31, 2022 to alter the registration type in
VPS (Euronext Securities Oslo). The Company has determined to go for a major
recording in VPS by approach of a "listed shares register", with the consequence that
all shareholders within the Company will likely be direct homeowners of Common Shares, and never
depository receipts. The above amendments to the Company's Articles are made in
order to facilitate the change from the present depository receipts being traded
on the Oslo Stock Exchange, to Common Shares being traded on the Oslo Stock
Exchange. Please learn that the shareholders of the Company don't must
take any motion in reference to the talked about change.  

By Order of the Board.

David Mullen 
Director

Date: November 9, 2022

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