Ades Holding Unit in Pact to Buy Two Rigs

Ades International Holding signs two separate pacts for two rigs in Asia.

• In pact with Rig Finance for its shares in jackup rig Soehanah for 318.8m riyals ($85m)
  • currently contracted in Indonesia
• In pact to acquire jackup rig Topaz for 393.8m riyals ($105m)
  • currently contracted in the Malaysia-Thailand joint development area
• Company will pay 10% at signing and remaining 90% at closing

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Kateryna Kadabashy in Dubai at kkadabashy@bloomberg.net

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Dana Khraiche at dkhraiche@bloomberg.net

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