Past year: ▼ 24%(8.39 – 18.83 USD)
Each one in plain English, with the numbers worked through for a shareholder.
13 Aug 2010capital raising announcement● Neutral
Rowan issued more new shares in private deals to buy SKDP shares: 945,877 shares on August 10, 2010 (for 164,739,342 SKDP shares) and 950,282 shares on August 12 (for 165,506,270 SKDP shares). This continues the SKDP purchase and adds to the number of Rowan shares outstanding.
1 July 2010capital raising announcement● NeutralMajor
Rowan agreed to buy shares in Skeie Drilling & Production ASA (SKDP), a Norwegian developer of jack-up rigs, from certain holders by issuing about 5,954,151 new Rowan shares (0.00574 Rowan shares per SKDP share). With a separate ~1.5% stake already bought, Rowan would own 50.3% of SKDP and intends to tender for the rest on the same terms. The deal is subject to due diligence and board approval by July 19, 2010, or it terminates. The press release says SKDP has three rigs under construction and $530 million of debt, and Rowan expects about $420 million more to complete the rigs.
