SUGAR LAND, Texas, March 27, 2009 /PRNewswire-FirstCall via COMTEX/ -- Noble Corporation (NYSE: NE) announced the completion today of the previously announced merger, reorganization and consolidation transaction by way of schemes of arrangement under Cayman Islands law. The transaction effectively changed the place of incorporation of the parent holding company of the Noble group of companies from the Cayman Islands to Switzerland.
In the transaction, each ordinary share of Noble Corporation, the former Cayman Islands holding company ("Noble-Cayman"), outstanding immediately prior to the effective time of the transaction was exchanged, through an exchange agent, for one share of the new Swiss holding company, which is also named Noble Corporation ("Noble-Switzerland"). The shares of Noble-Switzerland are listed on the New York Stock Exchange under the trading symbol "NE," the same symbol under which the ordinary shares of Noble-Cayman were listed.
Noble is a leading offshore drilling contractor for the oil and gas industry. Noble performs, through its subsidiaries, contract drilling services with a fleet of 63 offshore drilling units (including five rigs currently under construction) located worldwide, including in the Middle East, India, the U.S. Gulf of Mexico, Mexico, the North Sea, Brazil, and West Africa. Noble's shares are traded on the New York Stock Exchange under the symbol "NE".
SOURCE Noble Corporation