DryShips Inc. announced that the mandatory offer period for the acquisition of all the outstanding shares of Ocean Rig ASA ended 11th June 2008.
As of 11 June 2008 Primelead Limited, a wholly owned subsidiary of DryShips Inc., has purchased shares and received acceptances, which will result in Primelead Limited holding 159,824,366 shares, equivalent to 93.8% of the shares and votes in Ocean Rig ASA, calculated based on an issued share capital in Ocean Rig ASA of 170,374,980 shares.
Basis the number of shares excluding Ocean Rig’s ownership of 6,763,600 shares in Ocean Rig, Primelead Limited now controls 97.7% of the company.
As set forth in the mandatory offer document Primelead Limited intends to proceed with a compulsory acquisition of the remaining Ocean Rig ASA shares. Such Compulsory acquisition will be announced as customary.