Aban Offshore Ltd has informed BSE that the Compensation Committee at its meeting held on March 08, 2008, has granted 125000 Equity Shares of Rs 2/- each under Employee Stock Option Scheme - 2005 to eligible employees including 2 Deputy Managing Directors.
Aban Offshore Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 08, 2008 had considered the proposal to raise funds by issue of Non-Convertible Cumulative Redeemable Preference Shares upto Rs 194 crores, in one or more tranches, on private placement basis. A committee was formed for this purpose to consider the proposal and do the necessary acts as may be required in this regard.
Aban Offshore Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 08, 2008, will consider the Agenda item regarding raising of Funds through issue of Non-Convertible Cumulative Redeemable Preference Shares on Private Placement basis in one or more tranches.
Aban Offshore Ltd has informed BSE that a subsidiary of the Company has received a Letter of Award from PTTEP International Ltd for a 3 well contract offshore Myanmar, for the jack-up drilling rig Deep Driller 5, with an estimated duration of 4 months. This contract will be in direct continuation of the current contract with Cairn Energy Sangu Field Ltd. The estimated contract value is approximately USD 25 million.