Noble Corporation Announces Results of Shareholder Vote

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Noble Corporation

Apr 30, 2010, 01:43 ET

ZUG, Switzerland, April 30 /PRNewswire-FirstCall/ -- Noble Corporation (NYSE: NE) today announced the results of the annual general meeting of shareholders of Noble Corporation, a Swiss corporation (the "Company"), held on April 30, 2010, in Zug, Switzerland. At the meeting, shareholders approved a number of matters, including:

  • The election of Michael A. Cawley, Gordon T. Hall and Jack E. Little as members of the Company's Board of Directors, each for three-year terms expiring in 2013.
  • The regular return of capital in the form of a par value reduction of the Company's shares in an amount equal to Swiss francs 0.52 per share, which is equal to approximately USD $0.48 using the currency exchange rate as published by the Swiss National Bank on April 30, 2010 (1.0793 CHF/1.0 USD), and to pay such amount in four installments of Swiss francs 0.13 per share in August 2010, November 2010, February 2011 and May 2011. Actual distribution payments will be subject to the satisfaction of applicable Swiss law requirements and may vary due to fluctuations in the Swiss franc/U.S. dollar exchange rate between now and each distribution payment date.
  • A special return of capital through a reduction of the par value of the Company's shares in an amount equal to Swiss francs 0.56 per share, which is equal to approximately USD $0.52 using the currency exchange rate as published by the Swiss National Bank on April 30, 2010 (1.0793 CHF/1.0 USD), and to pay such amount in August 2010. The actual distribution payment will be subject to the satisfaction of applicable Swiss law requirements and may vary due to fluctuations in the Swiss franc/U.S. dollar exchange rate between now and the distribution payment date.
  • The ratification of the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for fiscal year 2010 and the election of PricewaterhouseCoopers AG as statutory auditor for a one-year term.
  • Approval of the 2009 Annual Report, the consolidated financial statements of the Company for fiscal year 2009 and the statutory financial statements of the Company for extended fiscal year 2009.
  • Shareholders discharged the members of the Board of Directors and the executive officers from personal liability for extended fiscal year 2009.

The proposal to extend the Board's authority to issue authorized share capital up to a maximum of 50% of the Company's existing registered share capital until April 29, 2012 did not receive the required approval of at least two-thirds of the shares represented at the meeting. For a complete description of the above matters, please refer to the Company's definitive proxy statement filed with the Securities and Exchange Commission on March 15, 2010.

About Noble Corporation

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 62 offshore drilling units (including two rigs currently under construction) located worldwide, including in the Middle East, India, the U.S. Gulf of Mexico, Mexico, the Mediterranean, the North Sea, Brazil, and West Africa. Noble's shares are traded on the New York Stock Exchange under the symbol "NE". Additional information on Noble Corporation is available via the worldwide web at http://www.noblecorp.com.

SOURCE Noble Corporation

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