þ | Preliminary Proxy Statement | |
o | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) | |
o | Definitive Proxy Statement | |
o | Definitive Additional Materials | |
o | Soliciting Material Pursuant to §240.14a-12 |
þ | No fee required. | |
o | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
(1) | Title of each class of securities to which transaction applies: | ||
(2) | Aggregate number of securities to which transaction applies: | ||
(3) | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): | ||
(4) | Proposed maximum aggregate value of transaction: | ||
(5) | Total fee paid: | ||
o | Fee paid previously with preliminary materials. | |
o | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
(1) | Amount Previously Paid: | ||
(2) | Form, Schedule or Registration Statement No.: | ||
(3) | Filing Party: | ||
(4) | Date Filed: | ||
• | Noble-Cayman will merge with merger sub, Noble-Cayman will survive the merger, merger sub will be dissolved and will cease to exist and Noble-Cayman will become a direct, |
• | you will receive, through an exchange agent, one share of Noble-Switzerland in exchange for each ordinary share of Noble-Cayman you hold immediately prior to the transaction. As a result, you will become a shareholder of Noble-Switzerland, and your rights will be governed by Swiss law and Noble-Switzerland’s articles of association and by-laws, which are attached to this proxy statement as Annex F and Annex G, respectively; |
• | Noble-Cayman will receive, through the exchange agent, 15 million shares of Noble-Switzerland for future use to satisfy our obligations to deliver shares in connection with awards granted under our employee benefit plans and other general corporate purposes; and | |
• | Noble-Switzerland will assume certain employee benefit plans that are sponsored by Noble-Cayman and we will amend such plans in order to permit the issuance or delivery of Noble-Switzerland shares thereunder, rather than Noble-Cayman shares, including treasury shares of Noble-Switzerland; |
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• | Noble-Switzerland will have outstanding the same number of shares as did Noble-Cayman immediately before consummation of the Transaction, plus (1) the Treasury Shares and (2) an additional number of shares (which we expect to be 20,000) issued to Noble-Cayman in connection with the formation of Noble-Switzerland (the “Formation Shares”) and | |
• | Noble-Switzerland will hold all of the outstanding shares of Noble-Cayman. |
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Q: | Why do you want to change your place of incorporation to Switzerland? |
A: | We believe that our planned change of the place of incorporation of the publicly traded parent of the Noble group from the Cayman Islands to Switzerland should enable us to benefit from the global reputation for financial and political stability that we believe Switzerland enjoys and improve our ability to maintain a predictable worldwide effective corporate tax rate that is competitive with many of our international competitors. We believe that maintaining such a tax rate would assist us in preserving our competitive position within the international offshore drilling industry. We also believe this could make Noble-Switzerland a more attractive investment alternative than Noble-Cayman. |
Q: | Why was Switzerland selected? |
A: | We considered a number of alternatives to our incorporation in the Cayman Islands. Among those alternatives, we believe that Switzerland: |
• | is a major financial center of high repute known for its stability and financial sophistication; | |
• | offers a stable and developed tax regime and also has numerous tax treaties with many taxing jurisdictions throughout the world; and | |
• | has a developed set of corporate laws and a tradition of respecting the rule of law. |
Q: | Will the holding company relocate its management from the United States? |
A: | At the current time, we have not concluded that we should relocate executive management of our publicly traded holding company from our current headquarters in Sugar Land, Texas. However, we are continuing to analyze whether relocating management would be in Noble’s best interest and the best interest of our shareholders, and we may conclude that relocation is appropriate and begin to move personnel at any time, either before or after consummation of the Transaction. We currently expect that if we determine to relocate management, we would relocate management to Switzerland. Switzerland would be the place of incorporation of our holding company if the Transaction is consummated, and we already have operations established in Baar, Canton of Zug, Switzerland. |
Q: | Will the Transaction affect our current or future operations? |
A: | We currently believe that the Transaction should have no material impact on how we conduct our day-to-day operations. Where we conduct our future operations will depend on a variety of factors including the worldwide demand for our services and the overall needs of our business, independent of our legal domicile. Please read “Risk Factors” for a discussion of various ways in which the Transaction could have an adverse effect on us. |
Q: | Will the Transaction dilute my economic interest? |
A: | The Transaction will not dilute your economic interest in the Noble group. Immediately after consummation of the Transaction, the number of outstanding shares of Noble-Switzerland will be the same as the number of outstanding shares of Noble-Cayman immediately before consummation of the Transaction, plus (1) the Treasury Shares (15 million shares) and (2) the Formation Shares (20,000 shares, assuming a par value of 5.00 Swiss francs per share). Because Noble-Cayman will be a |
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wholly-owned subsidiary of Noble-Switzerland after consummation of the Transaction, your economic interest in the Noble group will not be diluted by the issuance to, or retention by, Noble-Cayman or other subsidiaries of Noble-Switzerland of the Treasury Shares and the Formation Shares. |
Q: | Will the Transaction result in any changes to my rights as a shareholder? |
A: | Your rights under Swiss corporate law as a holder of registered shares of Noble-Switzerland will differ from your current rights under Cayman Islands corporate law as a holder of ordinary shares of Noble-Cayman. In addition, Noble-Switzerland’s proposed articles of association and by-laws differ from Noble-Cayman’s memorandum and articles of association. We summarize the material changes in your rights as a shareholder resulting from the Transaction under “Comparison of Rights of Shareholders.” These changes affect, but are not limited to, the following areas: |
• | capitalization, including the amount, type and par value of the share capital; |
• | preemptive rights to purchase securities; |
• | dividends and distributions to shareholders and repurchases or redemptions of shares; |
• | approvals required for certain business combinations; |
• | the ability to implement a shareholder rights plan; |
• | appraisal rights; |
• | the maximum number of directors, the duties of directors, filling vacancies on the board of directors, removing directors, indemnifying directors and officers, limiting the liability of directors and handling directors’ conflicts of interest; |
• | shareholders’ suits and shareholders’ meetings; |
• | voting rights, including supermajority voting provisions, and quorum provisions; |
• | inspection of books and records and special investigations; and |
• | the enforcement of civil liabilities against foreign persons. |
Q: | What are the material tax consequences of the Transaction? |
A: | Please read the following five questions and answers regarding some of the potential tax consequences of the Transaction. Please refer to “Material Tax Considerations” beginning on page 33 for a description of the material U.S. federal income tax and Swiss tax consequences of the Transaction to Noble-Cayman members. There will be no Cayman Islands tax consequences to Noble or our shareholders. Determining the actual tax consequences of the Transaction to you may be complex and will depend on your specific situation. You are urged to consult your tax adviser for a full understanding of the tax consequences of the Transaction to you. Please see “Risk Factors — Noble-Switzerland may not be able to make distributions or repurchase shares without subjecting you to Swiss withholding tax.” |
Q: | Is the Transaction taxable to me? |
A: | Under U.S. tax law, holders of shares of Noble-Cayman generally will not recognize gain or loss on the exchange of such shares for shares of Noble-Switzerland in the Transaction. Under Swiss tax law, no tax is due for non-Swiss holders of Noble-Cayman shares on the exchange of Noble-Cayman shares for Noble-Switzerland shares in the Transaction. |
Q: | Has the U.S. Internal Revenue Service rendered an opinion on the Transaction? |
A: | No. We are not requesting any ruling from the U.S. Internal Revenue Service. |
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Q: | Is the Transaction a taxable transaction for any of Noble-Cayman, Noble-Switzerland or merger sub? |
A: | No. The Transaction is not a taxable transaction for any of Noble-Cayman, Noble-Switzerland or merger sub. |
Q: | Will there be Swiss withholding tax on future share repurchases, if any, by Noble-Switzerland? |
A: | Under present Swiss tax law, repurchases of shares for the purposes of capital reduction are treated as a partial liquidation subject to 35% Swiss withholding tax. The repurchase of shares for purposes other than capital reduction, such as to retain as treasury shares for use within certain periods in connection with stock option and restricted stock plans or other instruments, will generally not be subject to Swiss withholding tax. For shares repurchased for capital reduction, the portion of the repurchase price attributable to the par value of the shares repurchased will not be subject to the Swiss withholding tax. Beginning on January 1, 2011, subject to the adoption of implementing regulations and amendments to Swiss corporate and tax law, the portion of the repurchase price attributable to the qualifying additional paid-in capital for Swiss statutory reporting purposes of the shares repurchased will also not be subject to the Swiss withholding tax. Upon consummation of the Transaction, we expect Noble-Switzerland to have a par value and qualifying additional paid-in capital for Swiss statutory reporting purposes, such that the combination of the two should approximate the fair market value of Noble-Cayman’s share capital immediately prior to the consummation of the Transaction. A portion of the qualifying additional paid-in capital would be designated as a special reserve as described in the following paragraph. |
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Q: | Will there be Swiss withholding tax on future dividends, if any, by Noble-Switzerland? |
A: | A Swiss withholding tax of 35% is due on dividends and similar distributions to Noble-Switzerland shareholders from Noble-Switzerland, regardless of the place of residency of the shareholder, subject to the exceptions discussed below. Noble-Switzerland will be required to withhold at such rate and remit on a net basis any payments made to a holder of Noble-Switzerland shares and pay such withheld amounts to the Swiss federal tax authorities. |
Q: | What is qualifying additional paid-in capital? |
A: | Under Swiss statutory reporting requirements, qualifying additional paid-in capital per share represents the amount by which the issue price of a share exceeds its par value. Please note that qualifying additional paid-in capital for Noble-Switzerland’s statutory reporting purposes will not be the same as additional paid-in capital reflected on Noble-Switzerland’s consolidated financial statements prepared in accordance with U.S. GAAP. |
Q: | How will qualifying additional paid-in capital for Swiss statutory reporting purposes be determined? |
A: | Qualifying additional paid-in capital in the stand-alone Swiss statutory financial statements for Noble-Switzerland initially will represent the fair market value of Noble-Switzerland shares (including the Treasury Shares and the Formation Shares) issued in connection with the Transaction less their aggregate par value. |
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calculated based on the closing price of an ordinary share of Noble-Cayman on the New York Stock Exchange on the date the Transaction becomes effective plus a share premium, the final amount of which, if any, will be determined on the date of the consummation of the Transaction based on a number of factors, including the volatility and price of the Noble-Cayman shares, and must be confirmed by a statutory auditor. The following table presents shareholders’ equity, as adjusted, in accordance with Swiss statutory reporting requirements as if the Transaction had occurred on September 30, 2008. The following table assumes a special reserve for future share repurchases in the amount of approximately $560 million and that the fair market value of the share capital of Noble-Cayman was approximately |
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exchange rate on |
At September 30, | ||||
2008 | ||||
(In thousands) | ||||
Shareholders’ equity: | ||||
Shares, 5.00 Swiss francs par value per share, 278,827 issued(a) | $ | 1,154,181 | ||
Qualifying additional paid-in capital | 6,315,598 | |||
Retained earnings | — | |||
Total shareholders’ equity | $ | 7,469,779 | ||
At September 30, | ||||
2008 | ||||
(In thousands) | ||||
Shareholders’ equity: | ||||
Shares, par value 5.00 Swiss francs per share, 278,827 issued(a) | $ | 1,300,378 | ||
Qualifying additional paid-in capital | 4,298,910 | |||
Special reserve for future share repurchases | 560,000 | |||
Retained earnings | — | |||
Total shareholders’ equity | $ | 6,159,288 | ||
(a) | Shares issued includes (1) 263,807,152 shares outstanding at September 30, 2008, (2) 15 million Treasury Shares to be issued to |
Q: | When do you expect the Transaction to be completed? |
A: | We intend to complete the Transaction as quickly as possible and, assuming the Transaction is approved by the requisite vote of members and by the Grand Court of the Cayman Islands, we expect to do so as soon as practicable following approval from the Grand Court. We currently expect to complete the Transaction late in the first quarter of 2009. See Annex E for an expected timetable. However, the Transaction may be withdrawn or postponed for any reason by our board of directors at any time prior to the Transaction becoming effective, even though the Transaction may have been approved by our members and all conditions to the Transaction may have been satisfied. |
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Q: | What will I receive for my Noble-Cayman shares? |
A: | You will receive one Noble-Switzerland share for each Noble-Cayman share you hold immediately prior to the |
Q: | Do I have to take any action to exchange my Noble-Cayman shares? |
A: | No. Your Noble-Cayman ordinary shares will be exchanged for Noble-Switzerland shares without any action on your part. You will not be required to exchange any physical share certificates. |
Q: | Can I trade Noble-Cayman shares between the date of this proxy statement and the effective time of the Transaction? |
A: | Yes. The Noble-Cayman shares will continue to trade during this period. |
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Q: | After the Transaction, where can I trade Noble-Switzerland shares? |
A: | We expect the Noble-Switzerland shares to be listed and traded on the New York Stock Exchange under the symbol “NE,” the same symbol under which your shares are currently listed and traded. |
Q: | What am I being asked to vote on? |
A: | You are being asked to vote on a proposed merger, reorganization and consolidation by way of Schemes of Arrangement under Cayman Islands law for the purpose of establishing a new Swiss holding company to serve as the publicly traded parent of the Noble group and thereby changing the place of incorporation of our publicly traded parent from the Cayman Islands to Switzerland. As a result of the Transaction, Noble-Cayman will become a direct, wholly-owned subsidiary of Noble-Switzerland, and you will become a shareholder of Noble-Switzerland. |
Q: | What vote of Noble-Cayman members is required to approve the proposals? |
A: | The affirmative vote of a majority in number of the holders of the Noble-Cayman ordinary shares present and voting at the meeting, whether in person or by proxy, representing 75% or more in value of the ordinary shares present and voting at the meeting, whether in person or by proxy, is required to approve the Transaction. Because the quorum for the meeting is the presence in person or by proxy of members holding a majority of the outstanding Noble-Cayman ordinary shares and the voting requirement is determined by the number of members who are present and voting, the Transaction could be approved with the affirmative vote of less than 50% of the outstanding Noble-Cayman ordinary shares. The affirmative vote of holders of at least a majority of the Noble-Cayman ordinary shares present in person or by proxy at the meeting and entitled to vote on the matter is required to approve the adjournment proposal. |
Q: | What vote does my board of directors recommend? |
A: | The Noble-Cayman board of directors recommends that Noble-Cayman’s members vote “FOR” both of the proposals. |
Q: | What should I do now to vote? |
A: | The meeting will take place on , 2009. After carefully reading and considering the information contained in this proxy statement and the documents incorporated by reference, please submit your proxy or voting instructions by telephone, via the Internet or by completing, signing and returning the enclosed proxy card or voting instruction card, as appropriate, in the enclosed return envelope as soon as possible. If you hold your shares in the name of a bank, broker or other nominee, you should follow the instructions provided by your bank, broker or nominee when voting your shares. If your shares are held in |
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your name, you may also vote at the meeting in person. Even if you plan to attend the meeting, we urge you to submit your proxy by telephone, via the Internet, or by completing, signing and returning your proxy card. You can change your vote at any time before your proxy is voted at the meeting. |
Q: | If my shares are held in “street name” by my broker, will my broker vote my shares for me? |
A: | No. Your broker may not be able to vote your shares unless the broker receives appropriate instructions from you. We recommend that you contact your broker. Your broker can give you directions on how to instruct the broker to vote your shares. |
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Q: | Can I change my vote after I grant my proxy? |
A: | Yes. You can change your vote at any time before your proxy is voted at the meeting. You may revoke your proxy any time prior to its exercise by: |
• | giving written notice of the revocation to the Corporate Secretary of Noble-Cayman; | |
• | properly submitting a later-dated proxy by telephone or via the Internet; | |
• | properly completing and executing a later-dated proxy card and delivering it to the Corporate Secretary of Noble-Cayman at or before the meeting; or | |
• | appearing at the meeting, notifying the Corporate Secretary of Noble-Cayman and voting in person. |
Q: | Are proxy materials available on the Internet? |
A: | Yes. |
Q: | What happens after the meeting? |
A: | If the Transaction is approved at the meeting, Noble-Cayman and merger sub will apply to the Grand Court of the Cayman Islands for the approval of the Schemes of Arrangement. You are entitled to be present at that hearing in person or through your attorney to support or oppose the applications for approval of the Grand Court. The hearings are scheduled for on , 2009. |
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Q: | Whom should I call if I have questions about the meeting or the Transaction? |
A: | You should contact either of the following: |
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• | the Transaction, which will be effected by the Schemes of Arrangement, in connection with the |
n | Noble-Cayman will merge with merger sub, with Noble-Cayman surviving; | |
n | holders of Noble-Cayman ordinary shares will receive, through an exchange agent, one share of Noble-Switzerland in exchange for each ordinary share of Noble-Cayman that they hold and, as a result, will become shareholders of Noble-Switzerland; |
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n | Noble-Cayman will receive, through the exchange agent, 15 million shares of Noble-Switzerland for future use to satisfy our obligations to deliver shares in connection with awards granted under our employee benefit plans and other general corporate purposes; and | |
n | Noble-Switzerland will assume certain employee benefit plans that are sponsored by Noble-Cayman and amend such plans to permit the issuance or delivery of Noble-Switzerland shares thereunder, rather than Noble-Cayman shares, including treasury shares of Noble-Switzerland; |
• | a motion to adjourn the meeting to a later date to solicit additional proxies if there are insufficient votes at the time of the meeting to approve the Transaction; and | |
• | other business as may properly come before the meeting or any adjournment thereof. |
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• | giving written notice of the revocation to the Corporate Secretary of Noble-Cayman; | |
• | properly submitting a later-dated proxy by telephone or via the Internet; |
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• | properly completing and executing a later-dated proxy card and delivering it to the Corporate Secretary of Noble-Cayman at or before the meeting; or |
• | appearing at the meeting, notifying the Corporate Secretary of Noble-Cayman and voting in person. |
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Nine Months | ||||||||||||||||||||||||||||
Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||
2008 | 2007 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||||
(In thousands, except per share amounts) | ||||||||||||||||||||||||||||
STATEMENT OF INCOME DATA: | ||||||||||||||||||||||||||||
Operating revenues | $ | 2,536,347 | $ | 2,163,699 | $ | 2,995,311 | $ | 2,100,239 | $ | 1,382,137 | $ | 1,066,231 | $ | 987,380 | ||||||||||||||
Net income | 1,142,428 | 858,631 | 1,206,011 | 731,866 | 296,696 | 146,086 | 166,416 | |||||||||||||||||||||
Net income per share: | ||||||||||||||||||||||||||||
Basic | $ | 4.30 | $ | 3.22 | $ | 4.52 | $ | 2.69 | $ | 1.09 | $ | 0.55 | $ | 0.63 | ||||||||||||||
Diluted | 4.26 | 3.19 | 4.48 | 2.66 | 1.08 | 0.55 | 0.63 | |||||||||||||||||||||
BALANCE SHEET DATA (at end of period): | ||||||||||||||||||||||||||||
Cash and cash equivalents(1) | $ | 213,653 | $ | 150,579 | $ | 161,058 | $ | 61,710 | $ | 166,302 | $ | 191,578 | $ | 237,843 | ||||||||||||||
Property and equipment, net | 5,395,063 | 4,575,109 | 4,795,916 | 3,858,393 | 2,999,019 | 2,743,620 | 2,625,866 | |||||||||||||||||||||
Total assets | 6,611,157 | 5,508,913 | 5,876,006 | 4,585,914 | 4,346,367 | 3,307,973 | 3,189,633 | |||||||||||||||||||||
Long-term debt | 701,519 | 776,823 | 774,182 | 684,469 | 1,129,325 | 503,288 | 541,907 | |||||||||||||||||||||
Total debt(2) | 726,871 | 786,971 | 784,516 | 694,098 | 1,138,297 | 511,649 | 589,573 | |||||||||||||||||||||
Shareholders’ equity | 4,962,696 | 4,001,082 | 4,308,322 | 3,228,993 | 2,731,734 | 2,384,434 | 2,178,425 | |||||||||||||||||||||
OTHER DATA: | ||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 1,331,665 | $ | 995,385 | $ | 1,414,373 | $ | 988,715 | $ | 529,010 | $ | 332,221 | $ | 365,308 | ||||||||||||||
Capital expenditures | 880,110 | 942,439 | 1,287,043 | 1,122,061 | 545,095 | 333,989 | 344,118 | |||||||||||||||||||||
Cash dividends declared per share(3) | 0.87 | 0.12 | 0.12 | 0.08 | 0.05 | — | — |
(1) | Consists of cash and cash equivalents as reported on our consolidated balance sheets under current assets. | |
(2) | Consists of long-term debt and current portion of long-term debt. | |
(3) | In October 2004, our board of directors took action to modify our then existing dividend policy and to institute a new policy in the first quarter of 2005 for the payment of a quarterly cash dividend. We also paid a special dividend of $0.75 per share in May 2008. |
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At September 30, 2008 | ||||||||
As | ||||||||
Actual | Adjusted | |||||||
(In thousands) | ||||||||
Shareholders’ equity: | ||||||||
Ordinary shares, par value $0.10 per share; 400,000 shares authorized; 263,807 shares issued and outstanding, actual; and 5.00 Swiss francs par value, 418,241 authorized, 139,414 conditionally authorized, 278,827 issued and 263,807 outstanding, as adjusted(a) | $ | 26,381 | $ | 1,190,788 | ||||
Additional paid-in capital(b) | 439,679 | — | ||||||
Retained earnings | 4,511,660 | 3,786,932 | ||||||
Accumulated other comprehensive loss | (15,024 | ) | (15,024 | ) | ||||
Total shareholders’ equity | $ | 4,962,696 | $ | 4,962,696 | ||||
At September 30, 2008 | ||||||||
As | ||||||||
Actual | Adjusted | |||||||
(In thousands) | ||||||||
Shareholders’ equity: | ||||||||
Ordinary shares, par value $0.10 per share; 400,000 shares authorized; 263,807 shares issued and outstanding, actual; and registered shares, par value 5.00 Swiss francs per share; 418,241 shares authorized, 139,414 shares conditionally authorized; 278,827 shares issued and 263,807 shares outstanding, as adjusted(a) | $ | 26,381 | $ | 1,190,788 | ||||
Additional paid-in capital(b) | 439,679 | — | ||||||
Retained earnings | 4,511,660 | 3,786,932 | ||||||
Accumulated other comprehensive loss | (15,024 | ) | (15,024 | ) | ||||
Total shareholders’ equity | $ | 4,962,696 | $ | 4,962,696 | ||||
(a) | Shares issued, as adjusted, includes (1) 263,807,152 shares outstanding at September 30, 2008, (2) 15 million Treasury Shares to be issued to |
(b) | Additional paid-in capital is presented in the table in accordance with U.S. GAAP and is different from qualifying additional paid-in capital presented in the stand-alone Swiss statutory financial statements for Noble-Switzerland. |
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• | an inability to realize expected benefits from the Transaction or the occurrence of difficulties in connection with the Transaction; | |
• | costs related to the Transaction, which could be greater than expected; |
• | changes in tax law, tax treaties or tax regulations or the interpretation or enforcement thereof, including taxing authorities not agreeing with our assessment of the effects of such laws, treaties and regulations; |
• | worldwide demand for oil and gas which is impacted by changes in economic conditions in the U.S. or in other major international economies; | |
• | significant changes in trade, monetary or fiscal policies worldwide; | |
• | currency fluctuations between the U.S. dollar and other currencies; | |
• | costs and effects of unanticipated legal proceedings; | |
• | volatility in crude oil and natural gas prices; | |
• | heavy demand for the equipment and services we need in order to finish on schedule any shipyard, construction, refurbishment and conversion project that we have underway or plan to begin; | |
• | potential deterioration in demand by our customers for our drilling services; | |
• | intense competition in the contract drilling industry; | |
• | political and economic conditions in markets where we from time to time operate; | |
• | adverse weather (such as hurricanes and monsoons) and seas; | |
• | operational risks (such as blowouts, cratering and collisions or grounding of offshore equipment); | |
• | cancellation by our customers of drilling contracts or letter agreements or letters of intent for drilling contracts or their exercise of early termination provisions generally found in our drilling contracts; | |
• | limitations on our insurance coverage or our inability to obtain or maintain insurance coverage at rates that we believe are commercially reasonable; | |
• | requirements and potential liability imposed by governmental regulation of the drilling industry (including environmental regulation); |
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• | changes in our customers’ drilling programs or budgets due to their own internal corporate events, changes in the markets and prices for oil and gas, or shifts in the relative strengths of various |
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geographic drilling markets brought on by things such as a general economic slowdown, or regional or worldwide recession; |
• | the discovery rate of additional oiland/or gas reserves and the rate of decline of existing reserves; | |
• | changes in oil and gas drilling technology or in our competitors’ drilling rig fleets that could make our drilling rigs less competitive or require major capital investment to keep them competitive; | |
• | acts of war or terrorism or other civil disturbances; | |
• | factors discussed under “Risk Factors” and the “Background and Reasons for the Transaction” subsection under “The Transaction” and elsewhere in this proxy statement; and | |
• | factors discussed in the documents that we incorporate by reference into this proxy statement. |
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Number of Units | Location | Number of Units | Location | |||||||
15 | Arabian Gulf | 6 | West Africa | |||||||
13 | Mexico | 5 | Far East | |||||||
9 | North Sea | 5 | Brazil | |||||||
8 | U.S. Gulf of Mexico | 2 | India |
Number of Units | Location | Number of Units | Location | |||||||
14 | Arabian Gulf | 6 | West Africa | |||||||
13 | Mexico | 5 | Far East | |||||||
9 | North Sea | 5 | Brazil | |||||||
8 | U.S. Gulf of Mexico | 3 | India |
• | incorporation of our publicly traded holding company in Switzerland would enable us to benefit from the global reputation for financial and political stability that we believe Switzerland enjoys; | |
• | since the Cayman Islands has no tax treaties and generally has no system of direct taxation, migrating to another country with a different tax regime would enable us to improve our global tax position and lower the risks related to possible changes in tax legislation and regulations, both U.S. andnon-U.S., including those relating to treaties, and of disputes with tax authorities; | |
• | lowering the risks related to changes in tax legislation and regulations would improve our ability to maintain a predictable worldwide effective corporate tax rate that is competitive with many of our international competitors, and that this would assist us in preserving and improving our competitive position within the international offshore drilling industry; and | |
• | if we are able to maintain a predictable effective tax rate that is competitive in our industry, we would continue to be one of the more attractive investment alternatives within our peer group. |
• | Switzerland is a major financial center of high repute known for its stability and financial sophistication; | |
• | Switzerland has numerous tax treaties with many taxing jurisdictions throughout the world, and has a developed and stable tax regime; and |
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• | Switzerland has a developed set of corporate laws and a tradition of respecting the rule of law. |
• | Noble-Cayman has formed Noble-Switzerland, which, in turn, has formed merger sub; | |
• | following the meeting of members and hearings of the Grand Court of the Cayman Islands on , 2009, assuming we have obtained the necessary member and court approvals, merger sub will merge with Noble-Cayman by way of a Scheme of Arrangement, with Noble-Cayman surviving as a direct, wholly-owned subsidiary of Noble-Switzerland; and | |
• | in the Transaction, each Noble-Cayman ordinary share will be exchanged for one share of Noble-Switzerland. In addition, Noble-Switzerland will issue, through an exchange agent, 15 million Treasury Shares to Noble-Cayman for future use to satisfy our obligation to deliver shares in connection with awards granted under our employee benefit plans and other general corporate purposes. |
• | Noble-Switzerland will assume certain employee benefit plans that are sponsored by Noble-Cayman and amend those plans to reflect the Transaction and the use of treasury shares of Noble-Switzerland thereunder; | |
• | Noble-Switzerland will assume the guarantee obligations of Noble-Cayman under change of control employment agreements that subsidiaries of Noble-Cayman have in place with certain executive officers; |
• | Noble-Switzerland will indemnify the executive officers and directors of Noble-Cayman and its subsidiaries for six years after the effective time of the Transaction; |
• | Noble-Switzerland will enter into indemnity agreements with those directors and executive officers who currently have indemnity agreements with Noble-Cayman, upon terms substantially similar to the Noble-Cayman agreements to the extent permitted by Swiss |
• | Noble-Switzerland may guarantee or assume existing indebtedness or other obligations ofNoble-Cayman, including but not limited to obligations under credit facilities of Noble-Cayman. |
25
26
• | the Transaction is approved by the requisite vote of members of Noble-Cayman; |
• | none of the parties to the |
• | the Noble-Switzerland registered shares to be issued pursuant to the Transaction and the articles of association of Noble-Switzerland, substantially in the form attached as Annex F to this proxy statement, are registered in the commercial register in the Canton of Zug, Switzerland; |
• | the requisite court orders sanctioning the Transaction shall have been obtained from the Grand Court of the Cayman Islands and filed with the Registrar of Companies of the Cayman Islands and are effective; | |
• | the Noble-Switzerland shares to be issued pursuant to the Transaction are authorized for listing on the New York Stock Exchange, subject to official notice of issuance; | |
• | Noble receives any consents, waivers or amendments required under any contract or indebtedness of Noble-Cayman; | |
• | Noble receives an opinion from Baker Botts L.L.P., in form and substance reasonably satisfactory to it, confirming, as of the effective date of the Transaction, the matters discussed under “Material Tax Considerations — U.S. Federal Income Tax Considerations”; and | |
• | Noble receives an opinion from PricewaterhouseCoopers AG, in form and substance reasonably satisfactory to it, confirming, as of the effective date of the Transaction, the matters discussed under “Material Tax Considerations — Swiss Tax Considerations.” |
2726
2827
• | it is made pursuant to an effective registration statement filed under the Securities Act; | |
• | it is in compliance with Rule 144; or | |
• | in the opinion of counsel, it is otherwise exempt from the registration requirements of the Securities Act. |
• | a lump sum relocation allowance; | |
• | temporary housing for a specified period intended to allow personnel to secure local housing; | |
• | standard relocation services, such as house-hunting trips, tax and financial services, moving allowance and assistance with the sale of U.S. homes; | |
• | a housing allowance intended to compensate personnel for the increase in the cost of comparable housing in the overseas location compared to the cost in Texas, if applicable; | |
• | a car allowance; |
29
• | an increase in salary intended to compensate personnel for an increased cost of living, if applicable; |
28
• | reimbursement of school fees for dependents of relocated personnel; and | |
• | reimbursement of the cost of return trips to the United States for personnel and dependents living with them in the overseas location. |
29
30
30
31
• | the rules requiring the filing of Quarterly Reports on Form10-Q and Current Reports onForm 8-K with the SEC, | |
• | the SEC’s rules regulating proxy solicitations, | |
• | the provisions of Regulation FD, | |
• | the filing of reports of beneficial ownership under Section 16 of the Exchange Act (although beneficial ownership reports may be required under Section 13 of the Exchange Act), and | |
• | “short-swing” trading liability imposed on insiders who purchase and sell securities within a six-month period. |
• | file annual reports within six months after the end of a fiscal year, and within four months after the end of a fiscal year beginning with fiscal years ending on or after December 15, 2011, | |
• | include more limited compensation disclosure in its filings with the SEC, | |
• | apply accounting principles other than U.S. GAAP to its financial statements, although reconciliation to U.S. GAAP would be required if International Financial Reporting Standards, as promulgated by the International Accounting Standards Board, is not used, and | |
• | choose which reporting currency to use in presenting its financial statements. |
3231
• | a holder of Noble-Cayman shares who, at any time within the five year period ending on the date of the Transaction, has actually and constructively owned 10% or more of the total combined voting power of all classes of stock entitled to vote of Noble-Cayman, |
• | a holder of Noble-Switzerland shares who, at any time after the Transaction, actually and constructively owns 10% or more of the total combined voting power of all classes of stock entitled to vote of Noble-Switzerland (after taking into account any voting restrictions |
• | a bank or other financial institution, | |
• | a tax-exempt entity, | |
• | an insurance company, | |
• | a person holding shares as part of a “straddle,” “hedge,” “integrated transaction,” or “conversion transaction,” | |
• | a person holding shares through a partnership or other pass-through entity, | |
• | a U.S. expatriate, | |
• | a person who is liable for alternative minimum tax, | |
• | a broker-dealer or trader in securities or currencies, | |
• | a U.S. holder whose “functional currency” is not the U.S. dollar, | |
• | a regulated investment company, | |
• | a real estate investment trust, |
33
• | a trader in securities who has elected the mark-to-market method of accounting for its securities, |
32
• | a holder who received the Noble-Cayman shares through the exercise of employee stock options or otherwise as compensation or through a tax qualified retirement plan, or | |
• | a non-corporate holder of Noble-Switzerland shares who, because of limitations under the U.S. securities laws or other legal limitations, is not free to dispose of those shares without restriction. |
• | an individual citizen or resident alien of the United States, | |
• | a corporation or other entity taxable as a corporation organized under the laws of the United States or any state thereof including the District of Columbia, or | |
• | an estate or trust, the income of which is subject to U.S. federal income taxation regardless of its source. |
3433
3534
3635
3736
• | an individual resident of Switzerland or otherwise subject to Swiss taxation under article 3, 4 or 5 of the Federal Income Tax Act of 2001, as amended, or article 3 or 4 of the Federal Harmonization of Cantonal and Communal Income Tax Act of 1990, as amended, | |
• | a corporation or other entity taxable as a corporation organized under the laws of the Switzerland under article 50 or 51 of the Federal Income Tax Act of 2001, as amended, or article 20 or 21 of the Federal Harmonization of Cantonal and Communal Income Tax Act of 1990, as amended, or | |
• | an estate or trust, the income of which is subject to Swiss income taxation regardless of its source. |
3837
3938
4039
• | beneficial ownership, |
4140
• | U.S. residency, and | |
• | meeting theU.S.-Swiss tax treaty’s limitation on benefits requirements. |
4241
4342
• | the exercise of conversion, exchange, option, warrant or similar rights for the subscription of shares granted in connection with bonds, options, warrants or other securities newly or already issued by Noble-Switzerland, one of its subsidiaries, or any of their respective predecessors; or | |
• | options or other share-based awards to directors, employees or other persons providing services to Noble-Switzerland or one of its subsidiaries. |
• | the issue price of the registered shares is determined by reference to the market price; |
4443
• | the registered shares are issued in connection with the acquisition of an enterprise or business or any part of an enterprise or business, the financing or refinancing of any such transactions or the financing of new investment plans of Noble-Switzerland; | |
• | the registered shares are issued in connection with the intended broadening of the shareholder constituency of Noble-Switzerland in certain financial or investor markets, for the purposes of the participation of strategic partners, or in connection with the listing of the shares of Noble-Switzerland on domestic or foreign stock exchanges; | |
• | in connection with a placement or sale of registered shares, the grant of an over-allotment option of up to 20% of the total number of registered shares to the initial purchasers or underwriters; | |
• | for the participation of directors, employees and other persons performing services for the benefit of Noble-Switzerland or one of its subsidiaries; | |
• | either (1) following a shareholder or group of shareholders acting in concert having acquired in excess of 15% of the share capital registered in the commercial register (excluding treasury shares) without having submitted a takeover proposal to shareholders that is recommended by the board of directors or (2) for purposes of the defense of an actual, threatened or potential takeover bid, in relation to which the board of directors has, upon consultation with an independent financial adviser retained by the board of directors, not recommended acceptance to the shareholders. |
• | the respective financial instruments or contractual obligations will be issued or entered into at market conditions; | |
• | the conversion, exchange or exercise price, if any, for the instruments or obligations will be set with reference to the market conditions prevailing at the date on which the instruments or obligations are issued or entered into; and | |
• | the instruments or obligations may be converted, exercised or exchanged during a maximum period of 30 years. |
44
45
45
46
• | adoption and amendment of Noble-Switzerland’s articles of association; | |
• | election of members of the board of directors and the auditor; | |
• | approval of the annual business report, the stand-alone statutory financial statements and the consolidated financial statements; | |
• | the allocation of profits shown on the balance sheet, in particular the determination of dividends; | |
• | discharge of the members of the board of directors and the persons entrusted with management from liability; | |
• | approval of a transaction with an interested shareholder (as defined in the articles of association); and | |
• | any other resolutions that are submitted to a general meeting of shareholders pursuant to law, Noble-Switzerland’s articles of association or by voluntary submission by the board of directors (unless a matter is within the exclusive competence of the board of directors pursuant to the Swiss Code). |
46
47
48
47
• | the amendment to or the modification of the purpose of Noble-Switzerland; | |
• | the creation of shares with increased voting rights; | |
• | the restriction on the transferability of shares and any modification or removal of such restriction; |
• | an authorized or conditional increase of the share capital (other than increases permitted by the articles of association); |
• | an increase in the share capital through (1) the conversion of capital surplus, (2) a contribution in kind or for purposes of an acquisition of assets or (3) the granting of special privileges upon a capital increase; | |
• | the limitation on or withdrawal of preemptive rights or preferential subscription rights; | |
• | the relocation of the registered office of Noble-Switzerland; | |
• | the dissolution of Noble-Switzerland; | |
• | the merger by way of absorption of another company, to the extent required under Noble-Switzerland’s articles of association or by statutory law; and |
49
• | changes to the supermajority vote requirements listed above. |
• | the removal of a serving member of the board of directors; |
48
• | changes to the requirements of shareholders to provide advance notice of items to be included on the agenda for a general meeting, including the requirements related to nominations for election of directors; | |
• | changes to certain proceedings and procedures at general meetings; | |
• | changes to quorum requirements; | |
• | changes to the number of members of the board of directors; |
• | changes to the classification of the board of directors; | |
• | changes to supermajority vote requirements listed above. |
• | Article 12(f) — which relates to business combinations with interested shareholders; | |
• | Article 20 — which relates to proceedings and procedures at general meetings; | |
• | Article 21 — which sets forth the level of shareholder approval required for certain matters; | |
• | Article 22 — which sets forth the quorum at a general meeting required for certain matters, including the removal of a member of the board of directors; and |
• | Articles 23 |
50
49
• | a legal entity may divide all of its assets and transfer such assets to other legal entities, with the shareholders of the transferring entity receiving equity securities in the acquiring entities and the transferring entity dissolving upon deregistration in the commercial register; or | |
• | a legal entity may transfer all or a portion of its assets to other legal entities, with the shareholders of the transferring entity receiving equity securities in the acquiring entities. |
51
50
• | the company sells a core part of its business, without which it is economically impracticable or unreasonable to continue to operate the remaining business; | |
• | the company’s assets, after the divestment, are not invested in accordance with the company’s statutory business purpose; and | |
• | the proceeds of the divestment are not earmarked for reinvestment in accordance with the company’s business purpose but, instead, are intended for distribution to shareholders or for financial investments unrelated to the company’s business. |
• | Noble-Switzerland’s board of directors, prior to the time of the transaction in which the person became an interested shareholder, approves (1) the business combination or (2) the transaction in which the shareholder becomes an interested shareholder; or | |
• | upon consummation of the transaction that resulted in the shareholder becoming an interested shareholder, the interested shareholder owned at least 85% of the Total Voting Shares at the time the transaction commenced. |
52
• | the business combination is approved by a majority of the disinterested members of the board of directors; or |
51
• | the aggregate amount of cash and the fair market value of the consideration other than cash to be received by the shareholders in the business combination meets certain specified threshold minimum standards, and certain specified events have occurred or failed to occur, as applicable. |
53
52
54
53
5554
55
56
• | the exercise of conversion, exchange, option, warrant or similar rights for the subscription of shares granted in connection with bonds, options, warrants or other securities newly or already issued by Noble-Switzerland, one of its subsidiaries, or any of their respective predecessors; or | |
• | options or other share-based awards to directors, employees or other persons providing services to Noble-Switzerland or one of its subsidiaries. |
56
57
• | the issue price of the registered shares is determined by reference to the market price; | |
• | the registered shares are issued in connection with the acquisition of an enterprise or business or any part of an enterprise or business, the financing or refinancing of any such transactions or the financing of new investment plans of Noble-Switzerland; | |
• | the registered shares are issued in connection with the intended broadening of the shareholder constituency of Noble-Switzerland in certain financial or investor markets, for the purposes of the participation of strategic partners, or in connection with the listing of the shares of Noble-Switzerland on domestic or foreign stock exchanges; | |
• | in connection with a placement or sale of registered shares, the grant of an over-allotment option of up to 20% of the total number of registered shares to the initial purchasers or underwriters; | |
• | for the participation of directors, employees and other persons performing services for the benefit of Noble-Switzerland or one of its subsidiaries; or | |
• | either (1) following a shareholder or group of shareholders acting in concert having acquired in excess of 15% of the share capital registered in the commercial register (excluding treasury shares) without having submitted a takeover proposal to shareholders that is recommended by the board of directors or (2) for purposes of the defense of an actual, threatened or potential takeover bid, in relation to which the board of directors has, upon consultation with an independent financial adviser retained by the board of directors, not recommended acceptance to the shareholders. |
57
• | the respective financial instruments or contractual obligations will be issued or entered into at market conditions; | |
• | the conversion, exchange or exercise price, if any, for the instruments or obligations will be set with reference to the market conditions prevailing at the date on which the instruments or obligations are issued or entered into; and | |
• | the instruments or obligations may be converted, exercised or exchanged during a maximum period of 30 years. |
58
• | profits available for distribution; or | |
• | a “share premium account,” which represents the excess of the price paid to Noble-Cayman on issue of its shares over the par or “nominal” value of those shares, which is similar to the U.S. concept of additional paid-in capital. |
58
59
59
60
• | approval by the board of directors; and | |
• | approval of the holders of at least a majority of the issued shares generally entitled to vote. |
• | a legal entity may divide all of its assets and transfer such assets to other legal entities, with the shareholders of the transferring entity receiving equity securities in the acquiring entities and the transferring entity dissolving upon deregistration in the commercial register; or | |
• | a legal entity may transfer all or a portion of its assets to other legal entities, with the shareholders of the transferring entity receiving equity securities in the acquiring entities. |
60
• | the company sells a core part of its business, without which it is economically impracticable or unreasonable to continue to operate the remaining business; | |
• | the company’s assets, after the divestment, are not invested in accordance with the company’s statutory business purpose; and |
61
• | the proceeds of the divestment are not earmarked for reinvestment in accordance with the company’s business purpose but, instead, are intended for distribution to shareholders or for financial investments unrelated to the company’s business. |
• | Noble-Cayman’s board of directors, prior to the time of the transaction in which the person became an interested shareholder, approves (1) the business combination or (2) the transaction in which the shareholder becomes an interested shareholder; | |
• | upon consummation of the transaction that resulted in the shareholder becoming an interested shareholder, the interested shareholder owned at least 85% of the voting shares of Noble-Cayman at the time the transaction commenced; or | |
• | the board of directors and the holders of at least two thirds of the outstanding voting shares of Noble-Cayman, excluding shares owned by the interested shareholder, approve the business combination on or after the time of the transaction in which the person became an interested shareholder. |
61
62
• | the business combination is approved by a majority of the disinterested members of the board of directors; or | |
• | the aggregate amount of cash and the fair market value of the consideration other than cash to be received by the shareholders in the business combination meets certain specified threshold minimum standards, and certain specified events have occurred or failed to occur, as applicable. |
62
63
63
64
64
65
• | a duty to act in what the directors bona fide consider to be the best interests of the company (and in this regard it should be noted that what is in the best interests of the group (if any) of companies to which the company belongs is not necessarily in the best interests of the company). The interests of the company and the shareholders are distinct. However, in practical terms, there is often an overlap between the interests of the company and its shareholders as a whole; | |
• | a duty to exercise their powers for the purposes for which they are conferred; | |
• | a duty of trusteeship of the company’s assets; | |
• | the duty, where possible, to avoid conflicts of interest and of duty; | |
• | a duty to disclose personal interest in contracts involving the company; | |
• | a duty not to make secret profits from the directors’ office; and | |
• | a duty to act with skill and care. |
65
66
66
67
• | breaching the duty of loyalty to Noble-Cayman or its shareholders; | |
• | acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of the law; or | |
• | any transaction from which a director derived an improper personal benefit. |
6867
• | in respect of a cause of action arising from an actual or proposed act or omission involving negligence, default, breach of duty or breach of trust by a director of a company; | |
• | where the act complained of is illegal or alleged to constitute a fraud against the company or against any minority shareholder; or | |
• | where the act is beyond the corporate power of the company or otherwise requires approval by a greater percentage of the company’s shareholders than actually approved it; |
6968
69
70
71
70
• | adoption and amendment of Noble-Switzerland’s articles of association; | |
• | election of members of the board of directors and the auditor; | |
• | approval of the annual business report, the stand-alone statutory financial statements and the consolidated financial statements; | |
• | the allocation of profits shown on the balance sheet, in particular the determination of dividends; | |
• | discharge of the members of the board of directors and the persons entrusted with management from liability; | |
• | approval of a transaction with an interested shareholder (as defined in the articles of association); and | |
• | any other resolutions that are submitted to a general meeting of shareholders pursuant to law, Noble-Switzerland’s articles of association or by voluntary submission by the board of directors (unless a matter is within the exclusive competence of the board of directors pursuant to the Swiss Code). |
• | the amendment to or the modification of the purpose of Noble-Switzerland; | |
• | the creation of shares with increased voting rights; | |
• | the restriction on the transferability of shares and any modification or removal of such restriction; |
• | an authorized or conditional increase of the share capital (other than increases permitted by the articles of association); |
72
• | an increase in the share capital through (1) the conversion of capital surplus, (2) a contribution in kind or for purposes of an acquisition of assets or (3) the granting of special privileges upon a capital increase; | |
• | the limitation on or withdrawal of preemptive rights or preferential subscription rights; | |
• | the relocation of the registered office of Noble-Switzerland; | |
• | the dissolution of Noble-Switzerland; | |
• | the merger by way of absorption of another company, to the extent required under Noble-Switzerland’s articles of association or by statutory law; and |
71
• | changes to the supermajority vote requirements listed above. |
• | the removal of a serving member of the board of directors; | |
• | changes to the requirements of shareholders to provide advance notice of items to be included on the agenda for a general meeting, including the requirements related to nominations for elections of directors; | |
• | changes to certain proceedings and procedures at general meetings; | |
• | changes to quorum requirements; | |
• | changes to the number of members of the board of directors; |
• | changes to the classification of the board of directors; and |
• | changes to the | |
7372
• | Articles 31 through 49 — which relate to the convening of, and proceedings and procedures at, general meetings; | |
• | Articles 52 through 60 — which relate to the election, appointment and classification of directors; | |
• | Articles 62 and 63 — which require shareholders to approve certain business combinations with interested shareholders (with the exceptions described below); or | |
• | Article 64 — which requires shareholders to approve the sale, lease or exchange of all or substantially all of Noble-Cayman’s property or assets. |
• | in the case of a special resolution to amend, vary, suspend the operation of or disapplyArticles 31-49,52-60 or 64 of the articles of association, a majority of the board of directors has, at or prior to the meeting, recommended a vote in favor of the special resolution; and | |
• | in the case of a special resolution to amend, vary, suspend the operation of or disapply Article 62 of the articles of association, the favorable recommendation is made by a majority of the disinterested directors, meaning those directors who are unaffiliated with and are not nominees of the interested shareholder and were directors prior to the time the interested shareholder became an interested shareholder; or | |
• | in the case of a special resolution to amend, vary, suspend the operation of or disapply Article 63 of the articles of association, other than a special resolution referred to in the next full paragraph below, a favorable board of directors’ recommendation is made at a time when a majority of the board of directors then in office were directors prior to any person becoming an interested shareholder during the previous three years or were recommended for election or elected to succeed those directors by a majority of those directors. |
• | the resolution will not be effective until 12 months after it is passed by shareholders; and |
7473
• | the restrictions in Article 63 of the articles of association will otherwise continue to apply to any business combination between Noble-Cayman and any person who became an interested shareholder on or prior to the passing of the resolution. |
• | Article 12(f) — which relates to business combinations with interested shareholders; | |
• | Article 20 — which relates to proceedings and procedures at general meetings; | |
• | Article 21 — which sets forth the level of shareholder approval required for certain matters; | |
• | Article 22 — which sets forth the quorum at a general meeting required for certain matters, including the removal of a member of the board of directors; and |
• | Articles 23 |
• | protecting the interests of Noble-Cayman; | |
• | protecting the confidentiality of the information contained in those books and records; | |
• | the convenience of Noble-Cayman; or | |
• | protecting any other interest of Noble-Cayman that the board of directors deems proper. |
7574
7675
• | is given by a competent foreign court; | |
• | imposes on the judgment debtor a liability to pay a liquidated sum for which the judgment has been given; | |
• | is final; | |
• | is not in respect of taxes, a fine or a penalty; and | |
• | was not obtained in a manner and is not of a kind the enforcement of which is contrary to the public policy of the Cayman Islands. |
• | the foreign court had jurisdiction pursuant to the Swiss Federal Act on Private International Law or if the judgment was rendered by a court located at the domicile of the defendant; | |
• | the judgment of such foreign court has become final and non-appealable; | |
• | no reason for refusal in the sense of Article 27 Swiss Federal Act on Private International Law is given (in particular, but not limited to, the decision does not contravene Swiss public policy); and | |
• | the court procedures and the service of documents leading to the judgment were in accordance with the due process of law, the international requirements according to treaties, legal precedent and similar requirements. |
7776
• | the Transaction, which will be effected by the Schemes of Arrangement, in connection with the |
n | Noble-Cayman will merge with merger sub, with Noble-Cayman surviving; | |
n | holders of Noble-Cayman ordinary shares will receive, through an exchange agent, one share of Noble-Switzerland in exchange for each ordinary share of Noble-Cayman that they hold and, as a result, will become shareholders of Noble-Switzerland; | |
n | Noble-Cayman will receive, through the exchange agent, 15 million shares of Noble-Switzerland for future use to satisfy our obligations to deliver shares in connection with awards granted under our employee benefit plans and other general corporate purposes; and | |
n | Noble-Switzerland will assume certain employee benefit plans that are sponsored by Noble-Cayman and amend such plans to permit the issuance or delivery of Noble-Switzerland shares thereunder, rather than Noble-Cayman shares, including treasury shares of Noble-Switzerland; |
• | a motion to adjourn the meeting to a later date to solicit additional proxies if there are insufficient votes at the time of the meeting to approve the Transaction; and | |
• | other business as may properly come before the meeting or any adjournment thereof. |
78
77
7978
• | giving written notice of the revocation to the Corporate Secretary of Noble-Cayman; | |
• | properly submitting a later-dated proxy by telephone or via the Internet; | |
• | properly completing and executing a later-dated proxy card and delivering it to the Corporate Secretary of Noble-Cayman at or before the meeting; or | |
• | appearing at the meeting, notifying the Corporate Secretary of Noble-Cayman and voting in person. |
8079
Shares | Percent of | |||||||
Name and Address of Beneficial Owner | Beneficially Owned | Class(1) | ||||||
FMR LLC(2) | 19,376,682 | 7.35 | % | |||||
82 Devonshire Street | ||||||||
Boston, Massachusetts 02109 | ||||||||
Barclays Global Investors, NA(3) | 15,703,795 | 5.95 | % | |||||
45 Fremont Street | ||||||||
San Francisco, California 94105 |
Shares | Percent of | |||||||
Name and Address of Beneficial Owner | Beneficially Owned | Class(1) | ||||||
FMR LLC(2) | 19,376,682 | 7.40 | % | |||||
82 Devonshire Street | ||||||||
Boston, Massachusetts 02109 | ||||||||
Barclays Global Investors, NA(3) | 15,703,795 | 6.00 | % | |||||
45 Fremont Street | ||||||||
San Francisco, California 94105 |
(1) | The percentage indicated is based on the |
(2) | Based on a Schedule 13G (Amendment No. 12) filed by FMR LLC with the SEC on February 14, 2008. The filing is made jointly with Edward C. Johnson 3d and Fidelity Management & Research Company. FMR LLC reports sole investment power with respect to all such ordinary shares and sole voting power with respect to 2,490,582 ordinary shares. | |
(3) | Based on a Schedule 13G filed with the SEC on February 6, 2008 by Barclays Global Investors, NA (“Barclays”), Barclays Global Fund Advisors (“BG Fund”), Barclays Global Investors, LTD (“BGI LTD”), Barclays Global Investors Japan Trust and Banking Company Limited (“BGI Trust”), Barclays Global Investors Japan Limited (“BGI Japan”), Barclays Global Investors Canada Limited (“BGI Canada”), Barclays Global Investors Australia Limited (“BGI Australia”) and Barclays Global Investors (Deutschland) AG (“BGI Germany”). Barclays reports sole voting power with respect to 8,742,637 ordinary shares and sole dispositive power with respect to 10,422,739 ordinary shares; BG Fund reports sole voting and dispositive power with respect to 2,894,892 ordinary shares; BGI LTD reports sole voting power with respect to 1,426,636 ordinary shares and sole dispositive power with respect to 1,607,743 ordinary shares; BGI Japan reports sole voting and dispositive power with respect to 621,694 ordinary shares; and BGI Canada reports sole voting and dispositive power with respect to 156,727 ordinary shares. Each of BGI Trust, BGI Australia and BGI Germany reported no beneficial ownership. The address for Barclays and BG Fund is 45 Fremont Street, San Francisco, California 94105; the address for BGI LTD is Murray House, 1 Royal Mint Court, London, EC3N 4HH, England; the address for BGI Trust and BGI Japan is Ebisu Prime Square Tower, 8th Floor, 1-1-39 Hiroo Shibuya-Ku, Tokyo,150-0012, Japan; the address for BGI Canada is Brookfield Place 161 Bay Street, Suite 2500, Toronto, Canada, Ontario M5J 2S1; the address for BGI Australia is Level 43, Grosvenor Place, 225 George Street, Sydney Australia NSW 1220; and the address for BGI Germany is Apianstrasse 6, D-85774 Unterfohring, Germany. |
8180
Ordinary Shares Beneficially Owned(1) | ||||||||
Name | Number of Shares(2) | Percent of Class(3) | ||||||
Directors | ||||||||
Michael A. Cawley(4) | 1,857,105 | — | ||||||
Lawrence J. Chazen | 53,782 | — | ||||||
Luke R. Corbett | 88,266 | — | ||||||
Julie H. Edwards | 40,634 | — | ||||||
Marc E. Leland | 147,560 | — | ||||||
Jack E. Little | 124,228 | — | ||||||
Mary P. Ricciardello | 59,506 | — | ||||||
David W. Williams | 428,561 | — | ||||||
Named Executive Officers (excluding any Director above) and Group | 1,455,604 | — | ||||||
Robert Campbell | 62,737 | — | ||||||
Thomas L. Mitchell | 252,119 | — | ||||||
Julie J. Robertson | 1,033,519 | — | ||||||
William A. Sears | 77,229 | — | ||||||
All directors and named executive officers as a group (12 persons)(5) | 4,225,246 | 1.59 | % |
Ordinary Shares Beneficially Owned(1) | ||||||||
Name | Number of Shares(2) | Percent of Class(3) | ||||||
Directors | ||||||||
Michael A. Cawley(4) | 1,857,105 | — | ||||||
Lawrence J. Chazen | 39,982 | — | ||||||
Luke R. Corbett | 88,266 | — | ||||||
Julie H. Edwards | 40,634 | — | ||||||
Marc E. Leland | 129,437 | — | ||||||
Jack E. Little | 124,228 | — | ||||||
Mary P. Ricciardello | 59,506 | — | ||||||
David W. Williams | 428,561 | — | ||||||
Named executive officers (excluding any director above) as a group | 1,425,604 | — | ||||||
Robert Campbell | 62,737 | — | ||||||
Thomas L. Mitchell | 252,119 | — | ||||||
Julie J. Robertson | 1,033,519 | — | ||||||
William A. Sears | 77,229 | — | ||||||
All directors and named executive officers as a group (12 persons)(5) | 4,193,323 | 1.59 | % |
(1) | Unless otherwise indicated, the beneficial owner has sole voting and investment power with respect to all shares listed. | |
(2) | Includes shares attributable to ordinary shares not outstanding but subject to options exercisable at December 31, 2008 or within 60 days thereafter, as follows: Mr. Cawley — 77,000 shares; Mr. Chazen —18,000 shares; Mr. Corbett — 58,000 shares; Ms. Edwards — 20,000 shares; Mr. Leland — 70,000 shares; Mr. Little — 83,000 shares; Ms. Ricciardello — 28,000 shares; Mr. Williams — 102,114 shares; Mr. Campbell — 20,302 shares; Mr. Mitchell — 71,632 shares; Ms. Robertson — 538,241 shares; and Mr. Sears — 77,000 shares. | |
(3) | The percent of class shown is less than one percent unless otherwise indicated. | |
(4) | Includes 1,749,278 ordinary shares beneficially owned by the Noble Foundation. Mr. Cawley, as President and Chief Executive Officer and a trustee of the Noble Foundation may be deemed to beneficially own, and have voting and investment power with respect to, the 1,749,278 ordinary shares held by the Noble Foundation. As one of the members of the board of trustees of the Noble Foundation, Mr. Cawley represents sufficient voting power on the Noble Foundation’s board of trustees to determine voting or investment decisions with respect to the 1,749,278 ordinary shares. Mr. Cawley disclaims any pecuniary interest in the 1,749,278 ordinary shares. | |
(5) | Includes 1,163,289 ordinary shares not outstanding but subject to options exercisable at December 31, 2008 or within 60 days thereafter and 1,749,278 ordinary shares beneficially owned by the Noble Foundation. See footnotes (3) and (4) above. |
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Dividends | ||||||||||||
Declared | ||||||||||||
High | Low | and Paid | ||||||||||
2008 | ||||||||||||
Fourth quarter (through December 19, 2008 | $ | 43.62 | $ | 19.23 | $ | 0.04 | ||||||
Third quarter | 67.12 | 39.89 | 0.04 | |||||||||
Second quarter(1) | 68.99 | 48.50 | 0.79 | |||||||||
First quarter | 58.09 | 40.40 | 0.04 | |||||||||
2007 | ||||||||||||
Fourth quarter | $ | 57.64 | $ | 46.21 | $ | 0.04 | ||||||
Third quarter | 54.29 | 43.48 | 0.04 | |||||||||
Second quarter | 49.52 | 39.19 | 0.02 | |||||||||
First quarter | 40.78 | 33.81 | 0.02 | |||||||||
2006 | ||||||||||||
Fourth quarter | $ | 41.16 | $ | 29.26 | $ | 0.02 | ||||||
Third quarter | 38.63 | 30.46 | 0.02 | |||||||||
Second quarter | 43.08 | 31.23 | 0.02 | |||||||||
First quarter | 42.48 | 34.51 | 0.02 |
Dividends | ||||||||||||
Declared | ||||||||||||
High | Low | and Paid | ||||||||||
2009 | ||||||||||||
First quarter (through February 3, 2009) | $ | 28.48 | $ | 20.03 | $ | — | (1) | |||||
2008 | ||||||||||||
Fourth quarter | $ | 43.62 | $ | 19.23 | $ | 0.04 | ||||||
Third quarter | 67.12 | 39.89 | 0.04 | |||||||||
Second quarter(2) | 68.99 | 48.50 | 0.79 | |||||||||
First quarter | 58.09 | 40.40 | 0.04 | |||||||||
2007 | ||||||||||||
Fourth quarter | $ | 57.64 | $ | 46.21 | $ | 0.04 | ||||||
Third quarter | 54.29 | 43.48 | 0.04 | |||||||||
Second quarter | 49.52 | 39.19 | 0.02 | |||||||||
First quarter | 40.78 | 33.81 | 0.02 | |||||||||
2006 | ||||||||||||
Fourth quarter | $ | 41.16 | $ | 29.26 | $ | 0.02 | ||||||
Third quarter | 38.63 | 30.46 | 0.02 | |||||||||
Second quarter | 43.08 | 31.23 | 0.02 | |||||||||
First quarter | 42.48 | 34.51 | 0.02 |
(1) | A $0.04 cash dividend per ordinary share was declared on January 30, 2009 and will be paid on March 2, 2009. |
(2) | A special dividend of $0.75 per share was paid in May 2008. |
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• | your name and address as the same appear in our records; | |
• | the class and number of shares of Noble-Cayman or Noble-Switzerland, as the case may be, that you own; and | |
• | a clear and concise statement of the proposal and your reasons for supporting it. |
• | your name and address and the name and address of the person or persons to be nominated; |
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• | a representation that you are a holder of record of our shares entitled to vote at the meeting and that you intend to appear in person or by proxy at the meeting to nominate the person or persons specified; |
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• | a description of all arrangements or understandings between you and each nominee you proposed and any other person or persons under which the nomination or nominations are to be made by you; | |
• | any other information regarding each nominee you proposed that would be required to be included in a proxy statement filed pursuant to the proxy rules of the SEC; and | |
• | the consent of each nominee to serve as a director if so elected. |
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• | Annual Report onForm 10-K for the year ended December 31, 2007; | |
• | Quarterly Report onForm 10-Q for the quarter ended March 31, 2008; | |
• | Quarterly Report onForm 10-Q for the quarter ended June 30, 2008; | |
• | Quarterly Report onForm 10-Q for the quarter ended September 30, 2008; | |
• | Current Report onForm 8-K filed on January 3, 2008 (excluding any portions thereof that are deemed to be furnished and not filed); | |
• | Current Report onForm 8-K filed on April 17, 2008; | |
• | Current Report onForm 8-K filed on May 6, 2008; |
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• | Current Report onForm 8-K filed on May 16, 2008; | |
• | Current Report onForm 8-K filed on November 18, 2008; | |
• | Current Report onForm 8-K filed on November 21, 2008; |
• | Current Report onForm 8-K filed on December 19, |
• | Current Report onForm 8-K filed on December 22, 2008; |
• | Current Report on Form 8-K filed on January 21, 2009; and |
• | The description of our ordinary shares contained in our Registration Statement onForm 8-A filed on April 26, 2002, as amended by Amendment No. 1 onForm 8-A/A |
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By: | /s/ David W. Williams |
By: | /s/ Alan Hay |
By: | /s/ Thomas L. Mitchell |
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Agreement and Plan of Merger, Reorganization and Consolidation | The Agreement and Plan of Merger, Reorganization and Consolidation among the Company, Noble-Switzerland and Noble Acquisition dated as of December 19, |
Allowed Proceeding | Any Proceeding by a Scheme Shareholder to enforce its rights under this Scheme where any party fails to perform its obligations under this Scheme. | |
Business Day | Any day on which banks are open for business in New York, Zurich and the Cayman Islands. | |
Companies Law | The Companies Law (2007 Revision) of the Cayman Islands. | |
Company | Noble Corporation, an exempted company incorporated with limited liability and registered under the laws of the Cayman Islands with registered number 115769. | |
Effective Time | The date and time at which an office copy of the Order of the Grand Court sanctioning this Scheme and the Noble Acquisition Scheme and making such facilitating orders as are appropriate pursuant to Section 87(2) of the Companies Law shall have been delivered to the Registrar of Companies in the Cayman Islands for registration, at which time this Scheme and the Noble Acquisition Scheme shall become effective. | |
Grand Court | The Grand Court of the Cayman Islands. |
Latest Practicable Date | [ ] |
Noble Acquisition | Noble Cayman Acquisition Ltd., an exempted company incorporated with limited liability and registered under the laws of the Cayman Islands with registered number 221022. | |
Noble Acquisition Scheme | The scheme of arrangement between (1) Noble Acquisition, (2) the holder of its ordinary shares and (3) the Company, in its present form or with or subject to any modifications, additions or conditions that are consented to by Noble Acquisition and that the Grand Court may approve or impose. | |
Noble-Cayman Ordinary Share | One ordinary share of US$0.10 par value in the capital of the Company. | |
Noble Options | Options to acquire Noble-Cayman Ordinary Shares under the Company’s stock plans. |
Noble Restricted Share Awards | Noble-Cayman Ordinary Shares |
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Noble-Switzerland | Noble Corporation, a corporation incorporated under the laws of Switzerland, with its registered office in Baar, Canton of Zug, Switzerland, and with registered number CH-170.3.032.929-5. | |
Noble-Switzerland Registered Share | Registered shares in the capital of Noble-Switzerland. | |
Proceeding | Any process, suit, action, legal or other proceeding including without limitation any arbitration, mediation, alternative dispute resolution, judicial review, adjudication, demand, execution, restraint, forfeiture, reentry, seizure, lien, enforcement of judgment, enforcement of any security or enforcement of any letters of credit. | |
Prohibited Proceeding | Any Proceeding against the Company, Noble Acquisition, or Noble-Switzerland or their property in any jurisdiction whatsoever other than an Allowed Proceeding. |
Proxy Statement | The Proxy Statement of the Company on Schedule 14A initially filed on December |
Record Date | The close of business (New York time) on [ ] |
Register of Members | The Company’s register of members kept in accordance with section 40 of the Companies Law. | |
Scheme | This scheme of arrangement in respect of the Company under section 86 of the Companies Law in its present form or with or subject to any modifications, additions or conditions that are consented to by the Company and that the Grand Court may approve or impose. | |
Scheme Consideration | One Noble-Switzerland Registered Share to be issued and allotted by Noble-Switzerland in exchange for each Scheme Share held immediately prior to the Effective Time by a Scheme Shareholder. | |
Scheme Meeting | The meeting of the holders of Noble-Cayman Ordinary Shares proposed to be convened at the direction of the Grand Court at which the Scheme will be voted upon or any postponement or adjournment thereof. | |
Scheme Shareholders | The holders of Noble-Cayman Ordinary Shares appearing on the Register of Members immediately prior to the Effective Time. | |
Scheme Shares | All the Noble-Cayman Ordinary Shares in issue immediately prior to the Effective Time. | |
Treasury Shares | 15 million fullypaid-up Noble-Switzerland Registered Shares to be issued and allotted, through an exchange agent, to the Company. | |
US$ | United States dollars, the lawful currency of the United States of America. |
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Dated this [ ] day of [ ] | Maples and Calder |
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The Agreement and Plan of Merger, Reorganization and Consolidation | The Agreement and Plan of Merger, Reorganization and Consolidation among the Company, Noble-Switzerland andNoble-Cayman dated as of December 19, |
Allowed Proceeding | Any Proceeding by the Scheme Shareholder to enforce its rights under this Scheme where any party fails to perform its obligations under this Scheme. | |
Business Day | Any day on which banks are open for business in New York, Zurich and the Cayman Islands. | |
Companies Law | The Companies Law (2007 Revision) of the Cayman Islands. | |
Company | Noble Cayman Acquisition Ltd., an exempted company incorporated with limited liability and registered under the laws of the Cayman Islands with registered number 221022. | |
Effective Time | The date and time at which an office copy of the Order of the Grand Court sanctioning this Scheme and the Noble Scheme and making such facilitating orders as are appropriate pursuant to Section 87(2) of the Companies Law shall have been delivered to the Registrar of Companies in the Cayman Islands for registration, at which time this Scheme and the Noble Scheme shall become effective. | |
Grand Court | The Grand Court of the Cayman Islands. |
Latest Practicable Date | [ ] |
Noble Acquisition Ordinary Share | One ordinary share of US$1.00 par value in the capital of the Company. | |
Noble-Cayman | Noble Corporation, an exempted company incorporated with limited liability and registered under the laws of the Cayman Islands with registered number 115769. | |
Noble-Cayman Ordinary Share | One ordinary share of US$0.10 par value in the capital ofNoble-Cayman. | |
Noble Scheme | The scheme of arrangement between (1) Noble-Cayman, (2) the holders of Noble-Cayman Ordinary Shares and (3) Noble-Switzerland in its present form or with or subject to any modifications, additions or conditions that are consented to by Noble-Cayman and that the Grand Court may approve or impose. | |
Noble-Switzerland | Noble Corporation, a corporation incorporated under the laws of Switzerland, with its registered office in Baar, Canton of Zug, Switzerland, and with registered number CH-170.3.032.929-5. | |
Noble-Switzerland Registered Share | Registered shares in the capital of Noble-Switzerland. |
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Proceeding | Any process, suit, action, legal or other proceeding including without limitation any arbitration, mediation, alternative dispute resolution, judicial review, adjudication, demand, execution, restraint, forfeiture, reentry, seizure, lien, enforcement of judgment, enforcement of any security or enforcement of any letters of credit. | |
Prohibited Proceeding | Any Proceeding against Noble-Cayman or the Company or their property in any jurisdiction whatsoever other than an Allowed Proceeding. |
Proxy Statement | The Proxy Statement of Noble-Cayman on Schedule 14A initially filed on December |
Record Date | The close of business (New York time) on [ ] |
Register of Members | The Company’s register of members kept in accordance with section 40 of the Companies Law. | |
Scheme | This scheme of arrangement in respect of the Company under sections 86 and 87 of the Companies Law in its present form or with or subject to any modifications, additions or conditions that are consented to by the Company and that the Grand Court may approve or impose. | |
Scheme Consideration | The Noble-Cayman Ordinary Shares to be issued and allotted by Noble-Cayman in respect of the Scheme Shares held immediately prior to the Effective Time by the Scheme Shareholder (in an amount equal to the number of Noble-Cayman Ordinary Shares outstanding immediately prior to the Effective Time credited as fully paid), as contemplated by the Agreement and Plan of Merger, Reorganization and Consolidation and the contribution in kind agreement referred to therein. | |
Scheme Meeting | The meeting (or written resolution) of the holder of Noble Acquisition Ordinary Shares proposed to be convened (or passed) at the direction of the Grand Court at which this Scheme will be voted upon or any adjournment thereof. | |
Scheme Shareholder | The holder of Noble Acquisition Ordinary Shares appearing on the Register of Members immediately prior to the Effective Time. | |
Scheme Shares | All the Noble Acquisition Ordinary Shares in issue immediately prior to the Effective Time. | |
Treasury Shares | 15 million fullypaid-up Noble-Switzerland Registered Shares to be issued and allotted, through an exchange agent, to Noble-Cayman. | |
US$ | United States dollars, the lawful currency of the United States of America. |
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Dated this [ ] day of [ ] | Maples and Calder |
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Description | Proposed Date | |
Record date for determining the Noble-Cayman members eligible to vote at the meeting of members | [ ], 2009 | |
Proxy statement and proxy first mailed to Noble-Cayman members | On or about [ ], 2009 | |
Latest time for submitting forms of proxy: via Internet or telephone | [ ] Houston time on [ ], 2009 | |
via proxy card or voting instruction card | Must be received at any time prior to the commencement of the meeting of members of Noble-Cayman | |
Meeting of members of Noble-Cayman | [ , ] time on [ ], 2009 | |
Court hearing to sanction the schemes of arrangement | [ , ] time on [ ], 2009 | |
Anticipated effective time of the schemes of arrangement | As soon as practicable after the court hearing | |
Issuance of the Noble-Switzerland shares to the Noble-Cayman members | Promptly after the effective time of the schemes of arrangement |
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Statuten der Noble Corporation mit Sitz in Baar | Articles of Association of Noble Corporation with registered office in Baar | |
I. Allgemeine Bestimmungen | I. General Provisions | |
Artikel 1: Firma, Sitz, Dauer | Article 1: Corporate Name, Registered Office, Duration | |
Unter der Firma Noble Corporation | Under the corporate name Noble Corporation | |
besteht eine Aktiengesellschaft (die “Gesellschaft”) gemäss Artikel. 620 ff. des Schweizerischen Obligationenrechts (“OR”) mit Sitz in Baar, Kanton Zug, Schweiz. | a company (the “Company”) exists pursuant to article 620 et seq. of the Swiss Code of Obligations (“CO”) with its registered office in Baar, Canton of Zug, Switzerland. | |
Artikel 2: Zweck | Article 2: Purpose | |
1Der Zweck der Gesellschaft ist der Erwerb, das Halten, die Verwaltung, die Verwertung und die Veräusserung von direkten und indirekten Beteiligungen an Unternehmen im In- und Ausland, insbesondere, Unternehmen, die in der Erkundung und Förderung von Bodenschätzen, wie der Erbringung von Dienstleistungen im Zusammenhang mit Offshore Bohrungen nach Öl und Naturgas, Dienstleistungen im Zusammenhang mit Arbeitsverträgen für Bohrdienstleistungen tätig sind, Ingenieur- und Beratungsdienstleistungen erbringen und die Finanzierung für solche Zwecke bereitstellen. | 1The purpose of the Company is to acquire, hold, manage, exploit and sell, directly or indirectly, participations in Swiss and foreign businesses, in particular, but without limitation, in businesses that are involved in the exploration for and production of natural resources, such as offshore contract drilling of oil and natural gas wells, labor contract drilling services and engineering and consulting services, and to provide financing for this purpose. | |
2Die Gesellschaft kann Zweigniederlassungen und Tochtergesellschaften im In- und Ausland errichten und Grundstücke und gewerbliche Schutzrechte im In- und Ausland erwerben, halten, verwalten, hypothekarisch belasten und veräussern. | 2The Company may set up branch offices and subsidiaries in Switzerland and abroad and may acquire, hold, manage, mortgage and sell real estate and intellectual property rights in Switzerland and abroad. | |
3Die Gesellschaft kann jede Art von finanzieller Unterstützung für und an Gruppengesellschaften gewähren, einschliesslich der Leistung von Garantien. Die Gesellschaft kann alle kommerziellen Tätigkeiten ausüben, welche direkt oder indirekt mit dem Zweck der Gesellschaft im Zusammenhang stehen, und alle Massnahmen ergreifen, die den Gesellschaftszweck angemessen zu fördern scheinen oder mit diesem im Zusammenhang stehen. | 3The Company may provide any kind of financial assistance, including guarantees, to and for group companies. The Company may engage in any type of commercial activity that is directly or indirectly related to its purpose and take any measures it determines appropriate to promote the purpose of the Company, or that are connected with its purpose. |
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Artikel 3: Dauer | Article 3: Duration | |
Die Dauer der Gesellschaft ist unbeschränkt. | The duration of the Company is unlimited. |
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II. Aktienkapital | II. Share Capital | |
Artikel 4: Anzahl Aktien, Nominalwert, Art | Article 4: Number of Shares, Par Value, Type | |
Das Aktienkapital der Gesellschaft beträgt Schweizer Franken [l], eingeteilt in [l] voll liberierte Namenaktien. Jede Namenaktie hat einen Nennwert von Schweizer Franken [l] (jede Namenaktie nachfolgend bezeichnet als “Aktie” bzw. zusammen die “Aktien”). | The share capital of the Company is Swiss Francs [l] and is divided into [l] fully paid-up registered shares. Each registered share has a par value of Swiss Francs [l] (each such registered share hereinafter a “Share” and collectively the “Shares”). | |
Artikel 5: Anerkennung der Statuten | Article 5: Recognition of Articles | |
Jede Ausübung von Aktionärsrechten schliesst die Anerkennung der Gesellschaftsstatuten in der jeweils gültigen Fassung in sich ein. | Any exercise of shareholders’ rights automatically comprises recognition of the version of these Articles of Association in force at the time. | |
Artikel 6: Genehmigtes Aktienkapital | Article 6: Authorized Share Capital | |
1Der Verwaltungsrat ist ermächtigt, das Aktienkapital jederzeit bis spätestens zum [l], im Maximalbetrag von Schweizer Franken [l] durch Ausgabe von höchstens [l] vollständig zu liberierenden Aktien mit einem Nennwert von je Schweizer Franken [l] zu erhöhen. Eine Erhöhung des Aktienkapitals (i) auf dem Weg einer Festübernahme durch eine Bank, ein Bankenkonsortium oder Dritte und eines anschliessenden Angebots an die bisherigen Aktionäre sowie (ii) in Teilbeträgen ist zulässig. | 1The Board of Directors is authorized to increase the share capital no later than [l], by a maximum amount of Swiss Francs [l] by issuing a maximum of [l] fully paid-up Shares with a par value of Swiss Francs [l] each. An increase of the share capital (i) by means of an offering underwritten by a financial institution, a syndicate of financial institutions or another third party or third parties, followed by an offer to the | |
2Der Verwaltungsrat legt den Zeitpunkt der Ausgabe der neuen Aktien, deren Ausgabepreis, die Art der Liberierung , den Beginn der Dividendenberechtigung, die Bedingungen für die Ausübung der Bezugsrechte sowie die Zuteilung der Bezugsrechte, welche nicht ausgeübt wurden, fest. Nicht ausgeübte Bezugsrechte kann der Verwaltungsrat verfallen lassen, oder er kann diese bzw. die Aktien, für welche Bezugsrechte eingeräumt, aber nicht ausgeübt worden sind, zu Marktkonditionen platzieren oder anderweitig im Interesse der Gesellschaft verwenden. | 2The Board of Directors shall determine the time of the issuance, the issue price, the manner in which the new Shares have to be paid-up, the date from which the Shares carry the right to dividends, the conditions for the exercise of the preemptive rights and the allotment of preemptive rights that have not been exercised. The Board of Directors may allow the preemptive rights that have not been exercised to expire, or it may place such rights or Shares, the preemptive rights of which have not been exercised, at market conditions or use them otherwise in the interest of the Company. | |
3Der Verwaltungsrat ist ermächtigt, die Bezugsrechte der Aktionäre aus wichtigen Gründen zu entziehen oder zu beschränken und Dritten zuzuweisen, insbesondere: | 3The Board of Directors is authorized to withdraw or limit the preemptive rights of the shareholders and to allot them to third parties for important reasons, including: | |
(a) wenn der Ausgabebetrag der neuen Aktien unter Berücksichtigung des Marktpreises festgesetzt wird; oder | (a) if the issue price of the new Shares is determined by reference to the market price; or |
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(b) für die Übernahme von Unternehmen, Unternehmensteilen oder Beteiligungen oder für die Finanzierung oder Refinanzierung solcher Transaktionen oder die Finanzierung von neuen Investitionsvorhaben der Gesellschaft; oder | (b) for the acquisition of an enterprise, part(s) of an enterprise or participations, or for the financing or refinancing of any of such transactions, or for the financing of new investment plans of the Company; or |
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(c) zum Zwecke der Erweiterung des Aktionärskreises in bestimmten Finanz- oder Investoren-Märkten, zur Beteiligung von strategischen Partnern, oder im Zusammenhang mit der Kotierung von neuen Aktien an inländischen oder ausländischen Börsen; oder | (c) for purposes of broadening the shareholder constituency of the Company in certain financial or investor markets, for purposes of the participation of strategic partners, or in connection with the listing of new Shares on domestic or foreign stock exchanges; or | |
(d) für die Einräumung einer Mehrzuteilungsoption (Greenshoe) von bis zu 20% der zu platzierenden oder zu verkaufenden Aktien an die betreffenden Erstkäufer oder Festübernehmer im Rahmen einer Aktienplatzierung oder eines Aktienverkaufs; oder | (d) for purposes of granting an over-allotment option (Greenshoe) of up to 20% of the total number of Shares in a placement or sale of Shares to the respective initial purchaser(s) or underwriter(s); or | |
(e) für die Beteiligung von: | (e) for the participation of: | |
i. Mitgliedern des Verwaltungsrates, Mitgliedern der Geschäftsleitung und Mitarbeitern, die für die Gesellschaft oder eine Gruppengesellschaft tätig sind, vorausgesetzt, dass der Gesamtbetrag der unter dieser Bestimmung (e)(i) ausgegebenen Aktien einen Betrag von Schweizer Franken [l], eingeteilt in zehn Millionen vollständig zu liberierende Aktien mit einem Nennwert von je Schweizer Franken [l] nicht übersteigt; und | i. members of the Board of Directors, members of the executive management and employees of the Company or any of its group companies, always provided that the total amount of such Shares to be issued under this clause (e)(i) shall not exceed Swiss Francs [l], divided into ten million fully paid-up Shares, with a par value of Swiss Francs [l]; and | |
ii. Vertragspartnern oder Beratern oder anderen Personen, die für die Gesellschaft oder eine Gruppengesellschaft Leistungen erbringen, vorausgesetzt, dass der Gesamtbetrag der unter dieser Bestimmung(e)(ii) ausgegebenen Aktien einen Betrag von Schweizer Franken [l], eingeteilt in eine Million vollständig zu liberierende Aktien mit einem Nennwert von je Schweizer Franken [l] nicht übersteigt; oder | ii. contractors or consultants of the Company or any of its group companies or any other persons performing services for the benefit of the Company or any of its group companies, always provided that the total amount of such Shares to be issued under this clause (e)(ii) shall not exceed Swiss Francs [l], divided into one million fully paid-up Shares, with a par value of Swiss Francs [l]; or |
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(f) wenn ein Aktionär oder eine Gruppe von in gemeinsamer Absprache handelnden Aktionären mehr als 15% des im Handelsregister eingetragenen Aktienkapitals der Gesellschaft (die eigenen Aktien der Gesellschaft davon ausgenommen) auf sich vereinigt hat, ohne den übrigen Aktionären ein vom Verwaltungsrat empfohlenes Übernahmeangebot zu unterbreiten; oder zur Abwehr eines unterbreiteten, angedrohten oder potentiellen Übernahmeangebotes, welches der Verwaltungsrat, nach Konsultation mit einem von ihm beigezogenen unabhängigen Finanzberater, den Aktionären nicht zur Annahme empfohlen hat, weil der Verwaltungsrat das Übernahmeangebot in finanzieller Hinsicht gegenüber den Aktionären nicht als fair beurteilt hat. | (f) following a shareholder or a group of shareholders acting in concert having accumulated shareholdings in excess of 15% of the share capital registered in the Commercial Register (excluding treasury shares) without having submitted to the other shareholders a takeover offer recommended by the Board of Directors, or for the defense of an actual, threatened or potential takeover bid, in relation to which the Board of Directors, upon consultation with an independent financial adviser retained by it, has not recommended to the shareholders acceptance on the basis that the Board of Directors has not found the takeover bid to be fair to the shareholders from a financial point of view. |
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4Die neuen Aktien unterliegen den Eintragungsbeschränkungen in das Aktienbuch | 4The new Shares shall be subject to the limitations for registration in the share register pursuant to Articles 9 and 10 of these Articles of Association. | |
Artikel 7: Bedingtes | Article 7: Conditional Share Capital | |
1Das Aktienkapital kann sich durch Ausgabe von höchstens [l] voll zu liberierenden Aktien im Nennwert von je Schweizer Franken [l] um höchstens Schweizer Franken [l] erhöhen durch: | 1The share capital may be increased in an amount not to exceed Swiss Francs [l] through the issuance of up to [l] fully paid-up Shares with a par value of Swiss Francs [l] per Share through: | |
(a) die Ausübung von Wandel-, Tausch-, Options-, Bezugs- oder ähnlichen Rechten auf den Bezug von Aktien (nachfolgend die “Umwandlungsrechte”), welche Dritten oder Aktionären im Zusammenhang mit auf nationalen oder internationalen Kapitalmärkten neu oder bereits begebenen Anleihensobligationen, Optionen, Warrants oder anderen Finanzmarktinstrumenten oder neuen oder bereits bestehenden vertraglichen Verpflichtungen der Gesellschaft, einer ihrer Gruppengesellschaften oder ihrer Rechtsvorgänger eingeräumt werden (nachfolgend zusammen, “die mit Umwandlungsrechten verbundenen Obligationen”); dabei darf der Gesamtbetrag der ausgegebenen Aktien einen Betrag von Schweizer Franken [l], eingeteilt in [l] vollständig zu liberierende Aktien mit einem Nennwert von je Schweizer Franken [l] nicht übersteigen; und/oder | (a) the exercise of conversion, exchange, option, warrant or similar rights for the subscription of Shares (hereinafter the “Rights”) granted to third parties or shareholders in connection with bonds, options, warrants or other securities newly or already issued in national or international capital markets or new or already existing contractual obligations by or of the Company, one of its group companies, or any of their respective predecessors (hereinafter collectively, the “ |
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(b) die Ausgabe von mit Umwandlungsrechten verbundenen Obligationen an: | (b) the issuance of Rights-Bearing Obligations granted to: | |
i. die Mitglieder des Verwaltungsrates, Mitglieder der Geschäftsleitung und Arbeitnehmer, die für die Gesellschaft oder eine Gruppengesellschaft tätig sind; vorausgesetzt, dass der Gesamtbetrag der unter dieser Bestimmung (b)(i) ausgegebenen Aktien einen Betrag von Schweizer Franken [l], eingeteilt in fünf Millionen vollständig zu liberierende Aktien mit einem Nennwert von je Schweizer Franken [l] nicht übersteigt; oder | i. the members of the Board of Directors, members of the executive management and employees of the Company or any of its group companies, always provided that the total amount of such Shares to be issued under this clause (b)(i) shall not exceed Swiss Francs [l], divided into five million fully paid-up Shares, with a par value of Swiss Francs [l]; or | |
ii. Vertragspartner oder Berater oder andere Personen, die für die Gesellschaft oder eine Gruppengesellschaft Leistungen erbringen, vorausgesetzt, dass der Gesamtbetrag der unter dieser Bestimmung (b)(ii) ausgegebenen Aktien einen Betrag von Schweizer Franken [l], eingeteilt in eine Million vollständig zu liberierende Aktien mit einem Nennwert von je Schweizer Franken [l] nicht übersteigt. | ii. contractors or consultants of the Company or any of its group companies or any other persons providing services to the Company or its group companies, always provided that the total amount of such Shares to be issued under this clause (b)(ii) shall not exceed Swiss Francs [l], divided into one million fully paid-up Shares, with a par value of Swiss Francs [l]. |
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2Der Verwaltungsrat ist ermächtigt, die Vorwegzeichnungsrechte der Aktionäre im Zusammenhang mit der Ausgabe von mit Umwandlungsrechten verbundenen Obligationen durch die Gesellschaft oder eine ihrer Gruppengesellschaften aus wichtigen Gründen zu beschränken oder aufzuheben, falls (1) die Ausgabe zum Zwecke der Übernahme von Unternehmen, Unternehmensteilen, für Beteiligungen oder zum Zwecke der Finanzierung oder Refinanzierung derartiger Transaktionen oder (2) die Ausgabe auf nationalen oder internationalen Finanzmärkten oder im Rahmen einer Privatplatzierung erfolgt. | 2The Board of Directors shall be authorized to withdraw or limit the preferential subscription rights in connection with the issuance by the Company, one of its group companies or any of their respective predecessors of Rights-Bearing Obligations for important reasons, including if (1) the issuance is for the acquisition of an enterprise, part(s) of an enterprise or participations, or for the financing or refinancing of any of such transactions or (2) the issuance occurs in national or international capital markets or through a private placement. | |
3Wird das Vorwegzeichnungsrecht durch den Verwaltungsrat beschränkt oder aufgehoben, gilt Folgendes: | 3If the Board of Directors limits or withdraws the preferential subscription right, then the following shall apply: | |
(a) Die mit Umwandlungsrechten verbundenen Obligationen sind zu den jeweils marktüblichen Bedingungen auszugeben oder einzugehen; und | (a) the Rights-Bearing Obligations shall be issued or entered into at market conditions; and | |
(b) der Umwandlungs-, Tausch- oder sonstige Ausübungspreis der mit Umwandlungsrechten verbundenen Obligationen ist unter Berücksichtigung | (b) the conversion, exchange or exercise price of the Rights-Bearing Obligations shall be set at market conditions prevailing at the date on which the Rights-Bearing Obligations are issued; and |
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(c) die Umwandlungsrechte sind höchstens während 30 Jahren ab dem jeweiligen Zeitpunkt der Ausgabe der betreffenden mit Umwandlungsrechten verbundenen Obligationen ausübbar. | (c) the Rights may only be exercised during a maximum period of 30 years from the date of the issuance of the relevant | |
4Im Zusammenhang mit der Ausübung von Umwandlungsrechten in Aktien, ist das Bezugsrecht der Aktionäre entsprechend den Bedingungen der mit Umwandlungsrechten verbundenen Obligationen ausgeschlossen. Zum Bezug der neuen Aktien, die bei Ausübung der Wandel-, Tausch- oder anderer Ausübungsrechte ausgegeben werden, sind die jeweiligen Inhaber der mit Umwandlungsrechten verbundenen Obligationen berechtigt. Die Bedingungen der mit Umwandlungsrechten verbundenen Obligationen sind unter Berücksichtigung von Artikel 7 Absatz 3 dieser Statuten durch den Verwaltungsrat festzulegen. | 4The preemptive rights of the shareholders shall be excluded in connection with the conversion, exchange or exercise of such Rights into Shares pursuant to the terms of the relevant Rights-Bearing Obligation. The then current owners of such Rights-Bearing Obligation shall be entitled to subscribe for the new Shares issued upon conversion, exchange or exercise of the related Right. The conditions of the Rights-Bearing Obligations shall be determined by the Board of Directors, subject to Article 7 para. 3 of these Articles of Association. | |
5Das Vorwegzeichnungsrecht wie auch das Bezugsrecht der Aktionäre ist bei der Ausgabe von mit Umwandlungsrechten verbundenen Obligationen gemäss Artikel 7 Absatz 1(b) dieser Statuten, oder bei Ausgabe neuer Aktien infolge Ausübung solcher Umwandlungsrechte |
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Beteiligungsplänen der Gesellschaft. Die Ausgabe von Aktien an die in Artikel 7 Absatz 1(b) dieser Statuten genannten Personen kann zu einem Preis erfolgen, der unter dem Kurs der Börse liegt, an der die Aktien gehandelt werden, muss aber mindestens zum Nennwert erfolgen | 5The preferential subscription rights and preemptive rights of the shareholders shall be excluded in connection with the issuance of any Rights-Bearing Obligations pursuant to Article 7 para. 1(b) of these Articles of Association or, upon exercise of the Rights, the newly issued Shares. Shares or Rights-Bearing Obligations may be issued to any of the persons referred to in Article 7 para. 1(b) of these Articles of Association in accordance with one or more benefit or incentive plans of the Company. Shares may be issued to any of the persons referred to in Article 7 para. 1(b) of these Articles of Association at a price lower than the current market price quoted on any securities exchange on which the Shares are traded, but at least at par value. | |
6Die Aktien, welche über die Ausübung von Umwandlungsrechten erworben werden, unterliegen den Eintragungsbeschränkungen in das Aktienbuch gemäss Artikel 9 und 10 dieser Statuten. | 6The Shares acquired through the exercise of Rights shall be subject to the limitations for registration in the share register pursuant to Articles 9 and 10 of these Articles of Association. | |
Artikel 8: Aktienzertifikate | Article 8: Share Certificates | |
1Ein Aktionär hat nur dann Anspruch auf die Ausgabe eines Aktienzertifikates, wenn der Verwaltungsrat die Ausgabe von Aktienzertifikaten beschliesst. Aktienzertifikate werden in der vom Verwaltungsrat festgelegten Form ausgegeben. Ein Aktionär kann jederzeit eine Bescheinigung über die Anzahl der von ihm gehaltenen Aktien verlangen. | 1A shareholder shall be entitled to a Share certificate only if the Board of Directors resolves that Share certificates shall be issued. Share certificates, if any, shall be in such form as the Board of Directors may determine. A shareholder may at any time request an attestation of the number of Shares held by it. | |
2Die Gesellschaft kann jederzeit auf die Ausgabe und Aushändigung von Zertifikaten verzichten und mit Zustimmung des Aktionärs ausgegebene Urkunden, die bei ihr eingeliefert werden, ersatzlos annullieren. | 2The Company may dispense with the obligation to issue and deliver certificates, and may, with the consent of the shareholder, cancel without replacement issued certificates delivered to the Company. |
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3Nicht-verurkundete Aktien und die damit verbundenen Rechte können nur durch schriftliche Zession übertragen werden. Eine solche Zession bedarf zur Wirksamkeit gegenüber der Gesellschaft der Anzeige an die Gesellschaft. Werden nicht-verurkundete Aktien im Auftrag des Aktionärs von einem Transfer Agenten, einer Trust Gesellschaft, Bank oder einer ähnlichen Gesellschaft verwaltet (der “Transfer Agent”), so können diese Aktien und die damit verbundenen Rechte nur unter Mitwirkung des Transfer Agenten übertragen werden. | 3Uncertificated Shares and the uncertificated rights deriving from them may only be transferred by written assignment, such assignment being valid only if the Company is notified. If uncertificated Shares are administered on behalf of a shareholder by a transfer agent, trust company, bank or similar entity (the “Transfer Agent”), such Shares and the rights deriving from them may be transferred only with the cooperation of the Transfer Agent. | |
4Werden nicht-verurkundete Aktien zugunsten von einer anderen Zivilrechtlichen Person als dem Transfer Agenten verpfändet, so ist zur Gültigkeit der Verpfändung eine Anzeige an den Transfer Agenten erforderlich. | 4If uncertificated Shares are pledged in favor of any Person other than the Transfer Agent, notification to such Transfer Agent shall be required for the pledge to be effective. | |
5Für den Fall, dass die Gesellschaft beschliesst, Aktienzertifikate auszugeben und auszuhändigen, müssen die Aktienzertifikate die Unterschrift(en) von einem oder mehreren zeichnungsberechtigten Personen tragen. Mindestens eine dieser Personen muss ein Mitglied des Verwaltungsrates sein. | 5If the Company decides to issue and deliver Share certificates, the Share certificates shall bear the signature(s) of one or more duly authorized signatories of the Company, at least one of which shall be a member of the Board of Directors. These signatures may be facsimile signatures. | |
6Die Inhaber von Aktienzertifikaten haben der Gesellschaft den Verlust, Diebstahl, die Zerstörung oder Beschädigung von Zertifikaten unverzüglich zu melden. |
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Die Gesellschaft kann an solche Inhaber gegen Aushändigung des beschädigten Zertifikates, oder gegen ausreichenden Nachweis eines Verlustes, Diebstahls oder der Zerstörung, neue Zertifikate ausgeben. Der Verwaltungsrat, ein von diesem eingesetzter Ausschuss, oder der Transfer Agent können in ihrem freien Ermessen vom Eigentümer des verlorenen, gestohlenen oder zerstörten Zertifikates, oder, im Fall einer Zivilrechtlichen Person, von deren gesetzlichem Vertreter verlangen, dass diese der Gesellschaft einen Schuldschein im Betrag und mit Sicherheiten ausgestaltet wie vom Verwaltungsrat, einem von diesem eingesetzten Ausschuss oder dem Transfer Agent verlangt übergibt, der es erlaubt, die Gesellschaft und den Transfer Agent für sämtliche Ansprüche zu entschädigen, die sich im Zusammenhang mit dem behaupteten Verlust, Diebstahl oder der Zerstörung eines solchen Zertifikates oder mit der Ausgabe eines neuen Zertifikates ergeben können. | 6The holder of any Share certificate(s) shall immediately notify the Company of any loss, theft, destruction or mutilation of any such certificate(s); the Company may issue to such holder a new certificate upon the surrender of the mutilated certificate or, in the case of loss, theft or destruction of the certificate, upon satisfactory proof of such loss, theft or destruction; the Board of Directors, or a committee designated thereby, or the Transfer Agent, may, in their discretion, require the owner of the lost, stolen or destroyed certificate, or such Person’s legal representative, to give the Company a bond in such sum and with such surety or sureties as they may direct to indemnify the Company and said Transfer Agent against any claim that may be made on account of the alleged loss, theft or destruction of any such certificate or the issuance of such new certificate. |
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7Der Verwaltungsrat ist berechtigt, zusätzliche Regelungen und Anordnungen zu treffen, die er im Zusammenhang mit der Ausgabe und Übertragung von Zertifikaten über Aktien verschiedener Kategorien als zweckdienlich erachtet. Er kann im Zusammenhang mit der Ausgabe neuer Aktienzertifikate als Ersatz für verloren gegangene, gestohlene, zerstörte oder beschädigte Zertifikate geeignete Regelungen erlassen und Massnahmen ergreifen. | 7The Board of Directors may make such additional rules and regulations as it may deem expedient concerning the issue and transfer of certificates representing Shares of each class of the Company and may make such rules and take such action as it may deem expedient concerning the issue of certificates in lieu of certificates claimed to have been lost, destroyed, stolen or mutilated. | |
8Die Gesellschaft kann in jedem Fall Aktienzertifikate ausgeben, die mehr als eine Aktie verkörpern. | 8The Company may in any event issue Share certificates representing more than one Share. | |
Artikel 9: Aktienbuch, | Article 9: Share Register, Restrictions on Registration, Nominees | |
1Die Gesellschaft selbst oder ein von ihr beauftragter Dritter führt ein Aktienbuch. Darin werden die Eigentümer und Nutzniesser der Aktien sowie Nominees mit Namen und Vornamen, Adresse und Staatsangehörigkeit (bei Rechtseinheiten mit Firma und Sitz) eingetragen. Ändert eine im Aktienbuch eingetragene Zivilrechtliche Person ihre Adresse, so hat sie dies dem Aktienbuchführer mitzuteilen. Solange dies nicht geschehen ist, gelten alle schriftlichen Mitteilungen der Gesellschaft an die im Aktienbuch eingetragenen Zivilrechtlichen Personen als rechtsgültig an die bisher im Aktienbuch eingetragene Adresse erfolgt. | 1The Company shall maintain, itself or through a third party, a share register that lists the surname, first name, address and citizenship (or the name and registered office for legal entities) of the owners and usufructuaries of the Shares as well as the nominees. A Person recorded in the share register shall notify the share registrar of any change in address. Until such notification shall have occurred, all written communication from the Company to Persons of record shall be deemed to have validly been made if sent to the address recorded in the share register. | |
2 | 2 |
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Shares in its own name and for its own account. | ||
3 | ||
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Artikel 10: Rechtsausübung | Article 10: Exercise of Rights | |
1Die Gesellschaft anerkennt nur einen Vertreter pro Aktie. | 1The Company shall only accept one representative per Share. | |
2Stimmrechte und die damit verbundenen Rechte können der Gesellschaft gegenüber von einem Aktionär, Nutzniesser der Aktien oder Nominee jeweils nur in dem Umfang ausgeübt werden, wie diese Zivilrechtliche Person mit Stimmrecht im Aktienbuch eingetragen ist. | 2Voting rights and rights derived from them may be exercised in relation to the Company by a shareholder, usufructuary of Shares or nominee only to the extent that such Person is recorded in the share register with the right to exercise his voting rights. | |
III. Organe und Organisation der Gesellschaft | III. Corporate Bodies and Organization of the Company | |
Artikel 11: Gesellschaftsorgane | Article 11: Corporate Bodies | |
Die Organe der Gesellschaft sind: | The corporate bodies are: | |
(a) die Generalversammlung; | (a) the General Meeting of Shareholders; | |
(b) der Verwaltungsrat; | (b) the Board of Directors; | |
(c) die Revisionsstelle; und | (c) the auditor; and | |
(d) zusätzliche, durch den Verwaltungsrat im Rahmen des Organisationsreglements bestellte Gremien. | (d) additional bodies as may be established by the Board of Directors in accordance with the By-Laws. | |
A. Generalversammlung | A. General Meeting of the Shareholders | |
Artikel 12: Befugnisse | Article 12: Authority | |
1Die Generalversammlung ist das oberste Organ der Gesellschaft. | 1The General Meeting of Shareholders is the supreme corporate body of the Company. | |
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2Der Generalversammlung stehen die folgenden unübertragbaren Befugnisse zu: | 2The following powers shall be vested exclusively in the General Meeting of Shareholders: | |
(a) die Festsetzung und Änderung der Statuten; | (a) the adoption and amendment of these Articles of Association; |
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(b) die Wahl der Mitglieder des Verwaltungsrates und der Revisionsstelle; | (b) the election of the members of the Board of Directors and the auditor; | |
(c) die Genehmigung des Jahresberichtes und der Konzernrechnung; | (c) the approval of the annual report and the consolidated financial statements of the Company; | |
(d) die Genehmigung der Jahresrechnung der Gesellschaft, sowie die Beschlussfassung über die Verwendung des Bilanzgewinnes, insbesondere die Festsetzung der Dividende; | (d) the approval of the annual statutory financial statements of the Company and the resolution on the allocation of profit shown on the annual statutory balance sheet, in particular the determination of any dividend; | |
(e) die Entlastung der Mitglieder des Verwaltungsrates und der übrigen mit der Geschäftsführung betrauten Zivilrechtlichen Personen; | (e) the grant of a release from liability to the members of the Board of Directors and the Persons entrusted with management; | |
(f) die Genehmigung des Zusammenschlusses mit einem Nahestehenden Aktionär nach Artikel 21 Absatz | (f) the approval pursuant to Article 21 para. | |
(g) die Beschlussfassung über Gegenstände, die der Generalversammlung durch das Gesetz oder die Statuten vorbehalten sind, oder die vom Verwaltungsrat gemäss Artikel 716a OR der Generalversammlung zur Beschlussfassung vorgelegt werden. | (g) the adoption of resolutions on matters that are reserved to the General Meeting of Shareholders by law, these Articles of Association or, subject to article 716a CO, that are submitted to the General Meeting of Shareholders by the Board of Directors. | |
Artikel 13: Ordentliche Generalversammlung | Article 13: Annual General Meeting | |
1Die ordentliche Generalversammlung findet alljährlich innerhalb von sechs Monaten nach Schluss des Geschäftsjahres statt. Spätestens zwanzig Kalendertage vor der ordentlichen Generalversammlung sind der Geschäftsbericht und der Revisionsbericht den Aktionären am Gesellschaftssitz zur Einsicht aufzulegen. Jeder Aktionär kann verlangen, dass ihm unverzüglich eine Ausfertigung des Geschäftsberichts und des Revisionsberichts ohne Kostenfolge zugesandt wird. Die im Aktienbuch eingetragenen Aktionäre werden über die Verfügbarkeit des Geschäftsberichts und des Revisionsberichts durch schriftliche Mitteilung unterrichtet. In der Einladung zur ordentlichen Generalversammlung wird auf die Verfügbarkeit des Geschäftsberichts und des Revisionsberichts hingewiesen. | 1The Annual General Meeting shall be held each year within six months after the close of the fiscal year of the Company. The annual report and the auditor’s report shall be made available for inspection by the shareholders at the registered office of the Company no later than twenty calendar days prior to the Annual General Meeting. Each shareholder is entitled to request prompt delivery of a copy of the annual report and the auditor’s report free of charge. Shareholders of record will be notified of the availability of the annual report and the auditor’s report in writing. Reference to the availability of the annual report and the auditor’s report shall be included in the notice of the Annual General Meeting. | |
2Die ordentliche Generalversammlung kann im Ausland durchgeführt werden. | 2The Annual General Meeting may be held outside of Switzerland. |
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Artikel 14: Ausserordentliche Generalversammlung | Article 14: Extraordinary General Meeting | |
1Ausserordentliche Generalversammlungen finden in den vom Gesetz vorgesehenen Fällen statt, |
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1An Extraordinary General Meeting shall be held in the circumstances provided by law, in particular when deemed necessary or appropriate by the Board of Directors, the Chairman of the Board, the Chief Executive Officer, or the President, or if so requested by the auditor. | ||
2Ausserdem muss der Verwaltungsrat, der Verwaltungsratspräsident, der Chief Executive Officer oder der Company President eine ausserordentliche Generalversammlung einberufen, wenn es eine Generalversammlung so beschliesst oder wenn ein oder mehrere Aktionäre, welche zusammen mindestens zehn Prozent des im Handelsregister eingetragenen Aktienkapitals vertreten, dies verlangen, und unter der Voraussetzung, dass | 2An Extraordinary General Meeting shall further be convened by the Board of Directors, the Chairman of the Board, the Chief Executive Officer, or the President, upon resolution of a General Meeting of Shareholders or if so requested by one or more shareholders who, in the aggregate, represent at least | |
(a) (1) schriftliches, von dem Aktionär bzw. den Aktionären unterzeichnetes und die Verhandlungsgegenstände bezeichnendes Begehren, (2) die Anträge sowie (3) der Nachweis der erforderlichen Anzahl der im Aktienbuch eingetragenen Aktien; und | (a) (1) a written request signed by such shareholder(s) that specifies the item(s) to be included on the agenda, (2) the respective proposals of the shareholders and (3) evidence of the required shareholdings recorded in the share register; and | |
(b) weitere Informationen, die von der Gesellschaft nach den Regeln der U.S. Securities and Exchange Commission (die “SEC”) in einem sog. Proxy Statement aufgenommen und veröffentlicht werden müssen. | (b) such other information as would be required to be included in a proxy statement pursuant to the rules of the | |
3Die ausserordentliche Generalversammlung kann im Ausland durchgeführt werden. | 3An Extraordinary General Meeting may be held outside of Switzerland. | |
Artikel 15: Einberufung der Generalversammlung | Article 15: Notice of Shareholders’ Meetings | |
1Die ordentliche und die ausserordentliche Generalversammlung (einzeln und zusammen die “Generalversammlung”) wird durch den Verwaltungsrat, nötigenfalls durch die Revisionsstelle, spätestens 20 Kalendertage vor dem Tag der Generalversammlung einberufen. | 1Notice of an Annual General Meeting or an Extraordinary General Meeting (individually and collectively the “General Meeting of Shareholders”) shall be given by the Board of Directors or, if necessary, by the auditor, at least twenty calendar days before the General Meeting of Shareholders is to take place. | |
2Die auf Verlangen eines Aktionärs durchzuführende ausserordentliche Generalversammlung ist durch den Verwaltungsrat innerhalb eines angemessenen Zeitraums seit Empfang des Begehrens auf Einberufung einer ausserordentlichen Generalversammlung einzuberufen. | 2In case of an Extraordinary General Meeting requested by a shareholder, the Board of Directors shall call such Extraordinary General Meeting within a reasonable time after such request. |
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3Die Einberufung erfolgt durch einmalige Bekanntmachung im Publikationsorgan der Gesellschaft gemäss Artikel 34 dieser Statuten. Für die Einhaltung der Einberufungsfrist ist der Tag der Veröffentlichung der Einberufung im Publikationsorgan massgeblich, wobei der Tag der Veröffentlichung nicht mitzuzählen ist. Die im Aktienbuch eingetragenen Aktionäre können zudem auf dem ordentlichen Postweg über die Generalversammlung informiert werden. | 3Notice of the General Meeting of Shareholders shall be given by way of a single announcement in the official means of publication of the Company pursuant to Article 34 of these Articles of Association. The notice period shall be deemed to have been observed if notice of the General Meeting of Shareholders is published in such official means of publication, it being understood that the date of publication is not to be included for purposes of computing the notice period. Shareholders of record may in addition be informed of the General Meeting of Shareholders by ordinary mail. |
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4Die Einberufung enthält die Verhandlungsgegenstände sowie die Anträge des Verwaltungsrates und des oder der Aktionäre, welche die Durchführung einer Generalversammlung oder die Traktandierung eines Verhandlungsgegenstandes verlangt haben, und bei Wahlen die Namen des oder der zur Wahl vorgeschlagenen Kandidaten. | 4The notice of a General Meeting of Shareholders shall specify the items on the agenda and the proposals of the Board of Directors and/or the shareholder(s) who requested that a General Meeting of Shareholders be held or an item be included on the agenda, and, in the event of elections, the name(s) of the candidate(s) that has or have been put on the ballot for election. | |
Artikel 16: Traktandierung; Nominierungen | Article 16: Agenda; Nominations | |
1 | 1 | |
2Das Traktandierungsbegehren muss in schriftlicher Fassung spätestens 60, frühestens aber 120 Kalendertage vor der Generalversammlung an den Sekretär der Gesellschaft zugestellt werden. Jedes Gesuch muss den Namen und die Adresse des antragstellenden Aktionärs (so, wie er in den Gesellschaftsunterlagen aufgeführt ist), sowie eine eindeutige und präzise Formulierung des Verhandlungsgegenstandes enthalten. Darüberhinaus ist ein Nachweis über die erforderliche, im Aktienbuch der Gesellschaft eingetragene Aktionärseigenschaft beizulegen. Sofern der Vorsitzende der Generalversammlung feststellt, dass ein Verhandlungsgegenstand nicht ordnungsgemäss traktandiert wurde, so hat er diesen Verhandlungsgegenstand für nicht ordnungsgemäss traktandiert zu erklären und den Gegenstand von der Verhandlung auszuschliessen. | 2In order for an item to be included on the agenda for a General Meeting of Shareholders, a written request must be sent to the Secretary of the Company not less than 60 nor more than 120 calendar days prior to the meeting. Each such request must specify the name and address of the |
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3Der Verwaltungsrat oder jeder zu der Wahl von Verwaltungsräten berechtigte Aktionär darf Nominierungen für die Wahl des Verwaltungsrates der Gesellschaft treffen. Jeder Aktionär, der im Rahmen der Generalversammlung zu der Wahl von Verwaltungsräten berechtigt ist, darf Personen für die Wahl des Verwaltungsrates nur dann vorschlagen, wenn die Absicht einer solchen Nominierung dem Sekretär der Gesellschaft in schriftlicher Form durch persönliches Überbringen, Brief, im Voraus bezahltes Porto, und unter den folgenden Voraussetzungen, angekündigt wurde: (a) 90 Tage vor Durchführung einer ordentlichen Generalversammlung, und (b) bei ausserordentlichen Generalversammlungen, bis spätestens zum Ende der ordentlichen Bürostunden am siebenten | 3Nominations for the election of directors of the Company may be made by the Board of Directors or by any shareholder entitled to vote for the election of directors. Any shareholder entitled to vote for the election of directors at a General Meeting of Shareholders may nominate persons for election as directors only if written notice of such shareholder’s intent to make such nomination is given, either by personal delivery or by mail, postage prepaid, to the Secretary of the Company not later than (a) with respect to an election to be held at an Annual General Meeting of Shareholders, 90 days in advance of such meeting, and (b) with respect to an election to be held at an Extraordinary General Meeting of Shareholders for the election of directors, the close of business on the seventh day following the date on which notice of such meeting is first given to shareholders. Each such notice shall set forth: (i) the name and address of the shareholder who intends to make the nomination of the person or persons to be nominated; (ii) a representation that the |
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4Zu nicht gehörig angekündigten Verhandlungsgegenständen können keine Beschlüsse der Generalversammlung gefasst werden. Hiervon ausgenommen ist jedoch der Beschluss über den in einer Generalversammlung gestellten Antrag auf: | 4No resolution may be passed at a General Meeting of Shareholders concerning an agenda item in relation to which due notice was not given, except for proposals made during a General Meeting of Shareholders to: | |
(a) Einberufung einer ausserordentlichen Generalversammlung; sowie | (a) convene an Extraordinary General Meeting; or | |
(b) Durchführung einer Sonderprüfung gemäss Artikel 697a OR. | (b) initiate a special investigation in accordance with article 697a CO. |
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5Zur Stellung von Anträgen im Rahmen der Verhandlungsgegenstände und zu Verhandlungen ohne Beschlussfassung bedarf es keiner vorgängigen Ankündigung. | 5No prior notice is required to bring motions related to items already on the agenda or for the discussion of matters on which no resolution is to be taken. | |
Artikel 17: Vorsitz der Generalversammlung, Protokoll, Stimmenzähler | Article 17: Acting Chair, Minutes, Vote Counters | |
1An der Generalversammlung führt der Verwaltungsratspräsident oder, bei dessen Verhinderung, der Vizepräsident oder eine andere vom Verwaltungsrat bezeichnete Person den Vorsitz. | 1At the General Meeting of Shareholders the Chairman of the Board of Directors or, in his absence, the Vice-Chairman or any other person designated by the Board of Directors, shall take the chair. | |
2Der Vorsitzende der Generalversammlung bestimmt den Protokollführer und die Stimmenzähler, die alle nicht Aktionäre sein müssen. Das Protokoll ist vom Vorsitzenden und vom Protokollführer zu unterzeichnen. | 2The acting chair of the General Meeting of Shareholders shall appoint the secretary and the vote counters, none of whom need be shareholders. The minutes of the General Meeting of Shareholders shall be signed by the acting chair and the secretary. | |
3Dem Vorsitzenden der Generalversammlung stehen die notwendigen und erforderlichen Befugnisse und Kompetenzen für eine ordnungsgemässe Durchführung der Generalversammlung zu. | 3The acting chair of the General Meeting of Shareholders shall have all powers and authority necessary and appropriate to ensure the orderly conduct of the General Meeting of Shareholders. |
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Artikel 18: Recht auf Teilnahme, Vertretung der Aktionäre | Article 18: Right to Participation and Representation | |
Sofern die Statuten es vorsehen, ist jeder an einem bestimmten, durch den Verwaltungsrat vorgegebenen Stichtag, im Aktienbuch eingetragene Aktionär | Except as provided in these Articles of Association, each shareholder recorded in the share register on a specific qualifying day which may be designated by the Board of Directors shall be entitled to participate at the General Meeting of Shareholders and in any vote taken. The shareholders may be represented by proxies who need not be shareholders. The Board of Directors may issue the particulars of the right to representation and participation at the General Meeting of Shareholders in procedural rules. | |
Artikel 19: Stimmrechte | Article 19: Voting Rights | |
1 | 1 | |
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Artikel 20: Beschlüsse und Wahlen: Mehrheitserfordernisse | Article 20: Resolutions and Elections: Voting Requirements | |
1Die Generalversammlung fasst Beschlüsse und entscheidet Wahlen, soweit das Gesetz oder diese Statuten es nicht anders bestimmen, mit der relativen Mehrheit der abgegebenen Aktienstimmen (wobei Enthaltungen, Broker Nonvotes, leere oder ungültige Stimmen für die Bestimmung des Mehrs nicht berücksichtigt werden). | 1Unless otherwise required by Swiss statutory law or these Articles of Association, the General Meeting of Shareholders shall take resolutions and decide elections upon a relative majority of the votes cast at the General Meeting of Shareholders (whereby abstentions, broker nonvotes, blank or invalid ballots shall be disregarded for purposes of establishing the majority). |
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2Die Generalversammlung entscheidet über die Wahl von Mitgliedern des Verwaltungsrates nach der Mehrheit der abgegebenen Stimmen. Danach gilt diejenige Person, welche die grösste Zahl der abgegebenen Aktienstimmen für einen Verwaltungsratssitz erhält, als für den betreffenden Verwaltungsratssitz gewählt. Aktienstimmen gegen einen Kandidaten, Stimmenthaltungen, Broker Nonvotes, leere oder ungültige Stimmen haben für die Zwecke dieses Artikels 20 Absatz 2 keine Auswirkungen auf die Wahl von Mitgliedern des Verwaltungsrates. | 2The General Meeting of Shareholders shall decide elections of members of the Board of Directors upon a plurality of the votes cast at the General Meeting of Shareholders. A plurality means that the individual who receives the largest number of votes for a board seat is elected to that board seat. Votes against any candidate, abstentions, broker nonvotes, blank or invalid ballots shall have no impact on the election of members of the Board of Directors under this Article 20 para. 2. | |
3Für die Abwahl von amtierenden Mitgliedern des Verwaltungsrates gelten das Mehrheitserfordernis gemäss Artikel 21 Absatz 2(e) sowie das Präsenzquorum von Artikel 22 Absatz 2(a). | 3For the removal of a serving member of the Board of Directors, the voting requirement set forth in Article 21 para. 2(e) and the presence quorum set forth in Article 22 para. 2(a) shall apply. | |
4Die Abstimmungen und Wahlen erfolgen offen, es sei denn, dass die Generalversammlung schriftliche Abstimmung respektive Wahl beschliesst oder der Vorsitzende der Generalversammlung dies anordnet. Der Vorsitzende der Generalversammlung kann Abstimmungen und Wahlen auch mittels elektronischem Verfahren durchführen lassen. Elektronische Abstimmungen und Wahlen sind schriftlichen Abstimmen und Wahlen gleichgestellt. | 4Resolutions and elections shall be decided by a show of hands, unless a written ballot is resolved by the General Meeting of Shareholders or is ordered by the acting chair of the General Meeting of Shareholders. The acting chair may also hold resolutions and elections by use of an electronic voting system. Electronic resolutions and elections shall be considered equal to resolutions and elections taken by way of a written ballot. | |
5Der Vorsitzende der Generalversammlung kann eine offene Wahl oder Abstimmung immer durch eine schriftliche oder elektronische wiederholen lassen, sofern seiner Ansicht nach Zweifel am Abstimmungsergebnis bestehen. In diesem Fall gilt die vorausgegangene offene Wahl oder Abstimmung als nicht erfolgt. | 5The chair of the General Meeting of Shareholders may at any time order that an election or resolution decided by a show of hands be repeated by way of a written or electronic ballot if he considers the vote to be in doubt. The resolution or election previously held by a show of hands shall then be deemed to have not taken place. | |
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Artikel 21: Besonderes Stimmen Quorum | Article 21: Special Vote | |
1Ein Beschluss der Generalversammlung, der mindestens zwei Drittel der an der Generalversammlung vertretenen Aktien sowie die absolute Mehrheit des vertretenen Aktiennennwertes, auf sich vereinigt, ist erforderlich für: | 1The approval of at least two-thirds of the Shares represented at a General Meeting of Shareholders and the absolute majority of the par value of such Shares, shall be required for resolutions with respect to: | |
(a) Die Ergänzung oder Änderung des Gesellschaftszweckes gemäss Artikel 2 dieser Statuten; | (a) the amendment or modification of the purpose of the Company as described in Article 2 of these Articles of Association; | |
(b) die Einführung von Stimmrechtsaktien; | (b) the creation of shares with voting power greater than the Shares; | |
(c) die Beschränkung der Übertragbarkeit der Aktien und die Änderung oder Aufhebung einer solche Beschränkung; | (c) the restriction on the transferability of Shares and the modification or removal of such restriction; |
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(d) | ||
(d) a change to the authorized or conditional share capital, other than increases in share capital permitted by Article 6 para. 1 and Article 7 para. 1; | ||
(e) an increase in share capital through (i) the conversion of capital surplus, (ii) contribution in kind or for purposes of an acquisition of assets, or (iii) the granting of special privileges upon a capital increase; | ||
(f) the limitation on or withdrawal of preemptive or preferential subscription rights; | ||
(g) the relocation of the registered office of the Company; | ||
(h) subject to Article 21 para. | ||
(i) die Auflösung der Gesellschaft; und | (i) the dissolution of the Company; and | |
(j) | ||
(j) any change to this Article 21 para. 1. | ||
2Ein Beschluss der Generalversammlung, der mindestens zwei Drittel der Gesamtstimmen auf sich vereinigt ist erforderlich für: | 2The approval of at least two-thirds of the Total Voting Shares shall be required for: | |
(a) Jede Änderung von Artikel 16 dieser Statuten; | (a) any change to Article 16 of these Articles of Association; | |
(b) jede Änderung von Artikel 20 dieser Statuten; | (b) any change to Article 20 of these Articles of Association; |
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(c) jede Änderung dieses Artikels 21 Absatz 2; | (c) any change to this Article 21 para. 2; | |
(d) jede Änderung von Artikel 22, 23, 24 oder 25 dieser Statuten; und | (d) any change to Article 22, 23 | |
(e) die Abwahl eines amtierenden Mitglieds des Verwaltungsrates. | (e) a resolution with respect to the removal of a serving member of the Board of Directors. | |
3Ein Beschluss der Generalversammlung, der mindestens zwei Drittel der abgegebenen Stimmen auf sich vereinigt, ist erforderlich für: | 3The approval of at least two-thirds of the Shares voted at a General Meeting of Shareholders shall be required for: | |
(a) jede Änderung dieses Artikels 21 Absatz 3; und | (a) any change to this Article 21 para. 3; and | |
(b) jede Änderung von Artikel 25 dieser Statuten. | (b) any change to Article 25 of these Articles of Association. |
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4Zusätzlich zu etwaigen benötigten Zustimmungserfordernissen ist ein Beschluss der Generalversammlung mit einer Mehrheit, die mindestens die Summe von: (i) zwei Drittel der Gesamtstimmen; zuzüglich (ii) einer | ||
(a) der Verwaltungsrat, bevor diese Zivilrechtliche Person zu einem Nahestehenden Aktionär wurde, entweder den Zusammenschluss oder eine andere Transaktion genehmigte, | (a) prior to such time that such Person became an Interested Shareholder, the Board of Directors approved either the Business Combination or the transaction which resulted in such Person becoming an Interested Shareholder; | |
�� | ||
(b) nach Vollzug der Transaktion, | (b) upon consummation of the transaction which resulted in such Person becoming an Interested Shareholder, the Interested Shareholder Owned at least 85% of the Total Voting Shares at the time the transaction commenced, excluding for purposes of determining such number of Shares then in issue (but not for purposes of determining the Shares Owned by the Interested Shareholder), those Shares Owned (x) by Persons who are both members of the Board of Directors and officers of the Company and (y) by employee share plans in which employee participants do not have the right to determine confidentially whether Shares held subject to the plan will be tendered in a tender or exchange offer; |
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(c) eine Zivilrechtliche Person unbeabsichtigterweise zu einem Nahestehenden Aktionär wird und (x) das Eigentum an einer genügenden Anzahl Aktien sobald als möglich veräussert, so dass sie nicht mehr länger als Nahestehender Aktionär qualifiziert und (y) zu keinem Zeitpunkt während der drei dem Zusammenschluss zwischen der Gesellschaft und dieser Zivilrechtlichen Person unmittelbar vorangehenden | (c) a Person becomes an Interested Shareholder inadvertently and (x) as soon as practicable divests itself of Ownership of sufficient Shares so that such Person ceases to be an Interested Shareholder and (y) would not, at any time within the three-year period immediately prior to a Business Combination between the Company and such Person, have been an Interested Shareholder but for the inadvertent acquisition of Ownership; or |
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(d) der Zusammenschluss vor Vollzug oder Verzicht auf und nach öffentlicher Bekanntgabe oder der nach diesem Abschnitt erforderlichen Mitteilung (was auch immer früher erfolgt) eine(r) beabsichtigten Transaktion vorgeschlagen wird, welche (i) eine der Transaktionen im Sinne des zweiten Satzes dieses Artikels 21 Absatz | (d) the Business Combination is proposed prior to the consummation or abandonment of and subsequent to the earlier of the public announcement or the notice required hereunder of a proposed transaction which (i) constitutes one of the transactions described in the second sentence of this Article 21 para. |
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shareholders prior to the consummation of any of the transactions described in clause (x) or (y) of the second sentence of this Article 21 para. |
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Artikel 22: Präsenzquorum | Article 22: Presence Quorum | |
1Jede Beschlussfassung oder Wahl setzt zu ihrer Gültigkeit im Zeitpunkt der Konstituierung der Generalversammlung ein Präsenzquorum von Aktionären, welche mindestens die Mehrheit aller Gesamtstimmen | 1The adoption of any resolution or election requires the presence of at least a majority of the Total Voting Shares at the time when the General Meeting of Shareholders proceeds to business. The shareholders present at a General Meeting of Shareholders may continue to transact business, despite the withdrawal of shareholders from such General Meeting of Shareholders following announcement of the presence quorum at that meeting. | |
2Die nachfolgend aufgeführten Angelegenheiten erfordern zum Zeitpunkt der Konstituierung der Generalversammlung ein Präsenzquorum von Aktionären, welche mindestens zwei Drittel der Gesamtstimmen vertreten: | 2The matters set forth below require the presence of at least two-thirds of the Total Voting Shares at the time when the General Meeting of Shareholders proceeds to business: | |
(a) Die Beschlussfassung über die Abwahl eines amtierenden Verwaltungsratsmitglieds (Artikel 20 Absatz 3 und 21 Absatz 2(e) dieser Statuten); und | (a) the adoption of a resolution to remove a serving member of the Board of Directors (Articles 20 para. 3 and 21 para. 2(e) of these Articles of Association); and | |
(b) die Beschlussfassung, diesen Artikel 22 oder Artikel 12(f), 20, 21, 23 | (b) the adoption of a resolution to amend, vary, suspend the operation of, disapply or cancel this Article 22 or Articles 12(f), 20, 21, 23 | |
B. Verwaltungsrat | B. Board of Directors | |
Artikel 23: Anzahl Verwaltungsräte | Article 23: Number of Directors | |
1Der Verwaltungsrat besteht aus mindestens drei und höchstens neun Mitgliedern. | 1The Board of Directors shall consist of no less than three and no more than nine members. | |
2Sollte die Anzahl der Verwaltungsräte unter die in diesen Statuten vorgesehene Mindestanzahl fallen, kann die Ernennung neuer Verwaltungsratsmitglieder zur Vervollständigung des Verwaltungsrats bis zur nächsten ordentlichen Generalversammlung aufgeschoben werden. | 2Should the number of the members of Board of Directors fall under the minimum number provided for in these Articles of Association, the completion of the Board of Directors may be deferred until the next Annual General Meeting. |
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Artikel 24: Amtsdauer | Article 24: Term of Office | |
1Die Verwaltungsräte werden vom Verwaltungsrat in drei Klassen aufgeteilt, welche als Klasse I, Klasse II und Klasse III bezeichnet werden. An jeder ordentlichen Generalversammlung soll jede Klasse Verwaltungsräte, deren Amtsdauer abläuft, für eine Amtsdauer von drei Jahren bzw. bis zur Wahl eines Nachfolgers in sein Amt gewählt werden. | 1The Board of Directors shall divide its members into three classes, designated Class I, Class II and Class III. At each Annual General Meeting, each class of the members of the Board of Directors whose term shall then expire shall be elected to hold office for a three-year term or until the election of their respective successor in office. |
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2Der Verwaltungsrat legt die Reihenfolge der Wiederwahl fest, wobei die erste Amtszeit einer bestimmten Klasse von Verwaltungsräten auch weniger als drei Jahre betragen kann. Für die Zwecke dieser Bestimmung ist unter einem Jahr der Zeitabschnitt zwischen zwei ordentlichen Generalversammlungen zu verstehen. | 2The Board of Directors shall establish the order of rotation, whereby the first term of office of members of a particular class may be less than three years. For purposes of this provision, one year shall mean the period between two Annual General Meetings. | |
3Wenn ein Verwaltungsratsmitglied vor Ablauf seiner Amtsdauer aus welchen Gründen auch immer ersetzt wird, endet die Amtsdauer des an seiner Stelle gewählten neuen Verwaltungsratsmitgliedes mit dem Ende der Amtsdauer seines Vorgängers. | 3If, before the expiration of his term of office, a Director should be replaced for whatever reason, the term of office of the newly elected member of the Board of Directors shall expire at the end of the term of office of his predecessor. | |
Artikel 25: Organisation des Verwaltungsrats, Entschädigung | Article 25: Organization of the Board, Remuneration | |
1Der Verwaltungsrat wählt aus seiner Mitte einen Verwaltungsratspräsidenten. Er kann einen oder mehrere Vizepräsidenten wählen. Er bestellt weiter einen Sekretär, welcher nicht Mitglied des Verwaltungsrates sein muss. Der Verwaltungsrat regelt unter Einhaltung der Bestimmungen des Gesetzes und dieser Statuten die Einzelheiten seiner Organisation in einem Organisationsreglement. | 1The Board of Directors shall elect from among its members a Chairman. It may elect one or more Vice-Chairmen. It shall further appoint a Secretary, who need not be a member of the Board of Directors. Subject to applicable law and these Articles of Association, the Board of Directors shall establish the particulars of its organization in By-Laws. | |
2Die Mitglieder des Verwaltungsrates haben Anspruch auf Ersatz ihrer im Interesse der Gesellschaft aufgewendeten Auslagen sowie auf eine ihrer Tätigkeit und Verantwortung entsprechende Entschädigung, deren Betrag der Verwaltungsrat auf Antrag eines Ausschusses des Verwaltungsrates festlegt. | 2The members of the Board of Directors shall be entitled to reimbursement of all expenses incurred in the interest of the Company, as well as remuneration for their services that is appropriate in view of their functions and responsibilities. The amount of the remuneration shall be determined by the Board of Directors upon recommendation by a committee of the Board of Directors. |
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3Im Rahmen des gesetzlich Zulässigen, hält die Gesellschaft gegenwärtige und ehemalige Mitglieder des Verwaltungsrates und der Geschäftsleitung sowie deren Erben, Konkurs- oder Nachlassmassen aus Gesellschaftsmitteln für Kosten, -Abgaben, Verluste, Schäden und Auslagen aus drohenden, hängigen oder |
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3The Company shall indemnify and hold harmless, to the fullest extent permitted by law, the existing and former members of the Board of Directors and officers, and their heirs, executors and administrators, out of the assets of the Company from and against all threatened, pending or completed actions, suits or proceedings — whether civil, criminal, administrative or investigative — and all costs, charges, losses, damages and expenses which they or any of them, their heirs, executors or administrators, shall or may incur or sustain by or by reason of any act done or alleged to be done, concurred or alleged to be concurred in or omitted or alleged to be omitted in or about the execution of their duty, or alleged duty, or by reason of the fact that he is or was a member of the Board of Directors or officer of the Company, or while serving as a member of the Board of | ||
4Ohne den vorangehenden Absatz 3 dieses Artikels 25 einzuschränken, bevorschusst die Gesellschaft gegenwärtigen und ehemaligen Mitgliedern des Verwaltungsrates und der Geschäftsleitung | 4Without limiting the foregoing para. 3 of this Article 25, the Company shall advance court costs and attorneys’ fees to the existing and former members of the Board of Directors and officers. The Company may however recover such advanced costs if any of said Persons is found, in a final judgment or decree of a court or governmental or administrative authority of competent jurisdiction not subject to appeal, to have committed an intentional or grossly negligent breach of his statutory duties as a Director of officer. | |
5Jede Aufhebung oder Änderung von Absatz 3 oder Absatz 4 dieses Artikels 25 lassen alle am Aufhebungs-oder Änderungszeitpunkt bereits bestehenden Rechte oder Verpflichtungen unberührt. | 5Any repeal or modification of para. 3 or para. 4 of this Article 25 shall not affect any rights or obligations then existing. | |
Artikel 26: Befugnisse des Verwaltungsrats | Article 26: Specific Powers of the Board | |
1Der Verwaltungsrat hat die in Artikel 716a OR statuierten unübertragbaren und unentziehbaren Aufgaben, insbesondere: | 1The Board of Directors has the non-delegable and inalienable duties as specified in Article 716a CO, in particular: | |
(a) die Oberleitung der Gesellschaft und die Erteilung der nötigen Weisungen; | (a) the ultimate direction of the business of the Company and the issuance of the required directives; | |
(b) die Festlegung der Organisation der Gesellschaft; und | (b) the determination of the organization of the Company; and |
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(c) die Oberaufsicht über die mit der Geschäftsführung betrauten Personen, namentlich im Hinblick auf die Befolgung der Gesetze, Statuten, Reglemente und Weisungen | (c) the ultimate supervision of the individuals entrusted with management duties, in particular with regard to compliance with law, these Articles of Association, By-Laws, regulations and directives. | |
2Der Verwaltungsrat kann überdies in allen Angelegenheiten Beschluss fassen, die nicht nach Gesetz oder Statuten der Generalversammlung zugeteilt sind. | 2In addition, the Board of Directors may pass resolutions with respect to all matters that are not reserved to the General Meeting of Shareholders by law or under these Articles of Association. |
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3Der Verwaltungsrat kann Beteiligungspläne der Gesellschaft der Generalversammlung zur Genehmigung vorlegen. | 3The Board of Directors may submit benefit or incentive plans of the Company to the General Meeting of Shareholders for approval. | |
Artikel 27: Kompetenzdelegation | Article 27: Delegation of Powers | |
Der Verwaltungsrat kann unter Vorbehalt von Artikel 26 Absatz 1 dieser Statuten sowie des OR die Geschäftsführung nach Massgabe eines Organisationsreglements ganz oder teilweise an eines oder mehrere seiner Mitglieder, an einen oder mehrere Ausschüsse des Verwaltungsrates oder an Dritte übertragen. | Subject to Article 26 para. 1 of these Articles of Association and the applicable provisions of the CO, the Board of Directors may delegate the management of the Company in whole or in part to individual directors, one or more committees of the Board of Directors or to persons other than Directors pursuant to By-Laws. | |
Artikel 28: Sitzung des Verwaltungsrats | Article 28: Meeting of the Board of Directors | |
1Sofern das vom Verwaltungsrat erlassene Organisationsreglement nichts anderes festlegt, ist zur gültigen Beschlussfassung über Geschäfte des Verwaltungsrates die Anwesenheit einer Mehrheit der Mitglieder des gesamten Verwaltungsrates notwendig. Kein Präsenzquorum ist erforderlich für die Feststellungsbeschlüsse des Verwaltungsrates im Zusammenhang mit Kapitalerhöhungen und die entsprechenden Statutenanpassungen. | 1Except as otherwise set forth in By-Laws of the Board of Directors, the attendance quorum necessary for the transaction of the business of the Board of Directors shall be a majority of the whole Board of Directors. No attendance quorum shall be required for resolutions of the Board of Directors providing for the confirmation of a capital increase or for the amendment of the Articles of Association in connection therewith. | |
2Der Verwaltungsrat fasst seine Beschlüsse mit einer Mehrheit der von den anwesenden Verwaltungsräten abgegebenen Stimmen, vorausgesetzt, das Präsenzquorum von Absatz 1 dieses Artikels 28 ist erfüllt. Der Verwaltungsratspräsident hat bei Stimmengleichheit keinen Stichentscheid. | 2The Board of Directors shall pass its resolutions with the majority of the votes cast by the Directors present at a meeting at which the attendance quorum of para. 1 of this Article 28 is satisfied. The Chairman shall have no casting vote. | |
Artikel 29: Zeichnungsberechtigung | Article 29: Signature Power | |
Die rechtsverbindliche Vertretung der Gesellschaft durch Mitglieder des Verwaltungsrates und durch Dritte wird in einem Organisationsreglement festgelegt. | The due and valid representation of the Company by members of the Board of Directors and other persons shall be set forth in By-Laws. |
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C. Revisionsstelle | C. Auditor | |
Artikel 30: Amtsdauer, Befugnisse und Pflichten | Article 30: Term, Power, Duties | |
1Die Revisionsstelle wird von der ordentlichen Generalversammlung gewählt und es obliegen ihr die vom Gesetz zugewiesenen Befugnisse und Pflichten. | 1The auditor shall be elected by the Annual General Meeting and shall have the powers and duties vested in it by law. | |
2Die Amtsdauer der Revisionsstelle beginnt am Tage der Wahl an einer ordentlichen Generalversammlung und endet am Tage der Wiederwahl der aktuellen Revisionsstelle oder am Tag der Wahl einer anderen Revisionsstelle als Nachfolgerin der bisherigen Revisionsstelle. | 2The term of office of the auditor shall commence on the day of election at an Annual General Meeting and terminate on the day that auditor is re-elected or that auditor’s successor is elected. |
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IV. Jahresrechnung, Konzernrechnung und Gewinnverteilung | IV. Annual Statutory Financial Statements, Consolidated Financial Statements and Profit; Allocation | |
Artikel 31: Geschäftsjahr | Article 31: Fiscal Year | |
Der Verwaltungsrat legt das Geschäftsjahr fest. | The Board of Directors determines the fiscal year. | |
Artikel 32: Verteilung des Bilanzgewinns, Reserven | Article 32: Allocation of Profit Shown on the Annual Statutory Balance Sheet, Reserves | |
1Über den Bilanzgewinn verfügt die Generalversammlung im Rahmen der anwendbaren gesetzlichen Vorschriften. Der Verwaltungsrat unterbreitet der Generalversammlung seine Vorschläge betreffend die Behandlung sämtlicher Zuweisungen. | 1The profit shown on the annual statutory balance sheet shall be allocated by the General Meeting of Shareholders in accordance with applicable law. The Board of Directors shall submit its proposals with respect to the treatment of any allocation to the General Meeting of Shareholders. | |
2Neben der gesetzlichen Reserve können weitere Reserven geschaffen werden. | 2Further reserves may be taken in addition to the reserves required by law. | |
3Dividenden, welche nicht innerhalb von fünf Jahren nach ihrem Auszahlungsdatum bezogen werden, fallen an die Gesellschaft und werden in die allgemeinen gesetzlichen Reserven verbucht. | 3Dividends that have not been collected within five years after their payment date shall enure to the Company and be allocated to the general statutory reserves. | |
V. Auflösung, Liquidation | V. Winding-up and Liquidation | |
Artikel 33: Auflösung und Liquidation | Article 33: Winding-up and Liquidation | |
1Die Generalversammlung kann jederzeit die Auflösung und Liquidation der Gesellschaft nach Massgabe der gesetzlichen und statutarischen Vorschriften beschliessen. | 1The General Meeting of Shareholders may at any time resolve on the winding-up and liquidation of the Company pursuant to applicable law and the provisions set forth in these Articles of Association. | |
2Die Liquidation wird durch den Verwaltungsrat durchgeführt, sofern sie nicht durch die Generalversammlung anderen Zivilrechtlichen Personen übertragen wird. | 2The liquidation shall be effected by the Board of Directors, unless the General Meeting of Shareholders shall appoint other Persons as liquidators. | |
3Die Liquidation der Gesellschaft erfolgt nach Massgabe der gesetzlichen Vorschriften. | 3The liquidation of the Company shall be effectuated pursuant to the statutory provisions. |
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4Nach erfolgter Tilgung der Schulden wird das Vermögen nach Massgabe der eingezahlten Beträge unter | 4Upon discharge of all liabilities, the assets of the Company shall be distributed to the shareholders pursuant to the amounts paid-up, unless these Articles of Association provide otherwise. | |
VI. Bekanntmachungen, Mitteilungen | VI. Announcements, Communications | |
Artikel 34: Bekanntmachungen, Mitteilungen | Article 34: Announcements, Communications | |
1Publikationsorgan der Gesellschaft ist das Schweizerische Handelsamtsblatt. | 1The official means of publication of the Company shall be the Swiss Official Gazette of Commerce. |
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2Soweit keine individuelle Benachrichtigung durch das Gesetz, börsengesetzliche Bestimmungen oder diese Statuten verlangt wird, gelten sämtliche Mitteilungen an die Aktionäre als gültig erfolgt, wenn sie im Schweizerischen Handelsamtsblatt veröffentlicht worden sind. Schriftliche Bekanntmachungen der Gesellschaft an die Aktionäre werden auf dem ordentlichen Postweg an die letzte im Aktienbuch verzeichnete Adresse des Aktionärs oder des bevollmächtigten Empfängers geschickt. Finanzinstitute, welche Aktien für wirtschaftlich Berechtigte halten und entsprechend im Aktienbuch eingetragen sind, gelten als bevollmächtigte Empfänger. | 2To the extent that individual notification is not required by law, stock exchange regulations or these Articles of Association, all communications to the shareholders shall be deemed valid if published in the Swiss Official Gazette of Commerce. Written communications by the Company to its shareholders shall be sent by ordinary mail to the last address of the shareholder or authorized recipient recorded in the share register. Financial institutions holding Shares for beneficial owners and recorded in such capacity in the share register shall be deemed to be authorized recipients. | |
VII. Verbindlicher Originaltext | VII. Original Language | |
Falls sich zwischen der deutsch- und der englischsprachigen Fassung dieser Statuten Differenzen ergeben, hat die deutschsprachige Fassung Vorrang. | In the event of deviations between the German and English version of these Articles of Association, the German text shall prevail. | |
VIII. Definitionen | VIII. Definitions | |
Artikel 35: Definitionen | Article 35: Definitions | |
Aktie | Shares | |
Der BegriffAktie(n)hat die in Artikel 4 dieser Statuten aufgeführte Bedeutung. | The termShare(s)has the meaning assigned to it in Article 4 of these Articles of Association. | |
Ausserordentliche Generalversammlung | Extraordinary General Meeting | |
Der Begriffausserordentliche Generalversammlunghat die in Artikel 14 Absatz 1 dieser Statuten aufgeführte Bedeutung. | The termExtraordinary General Meeting has the meaning assigned to it in Article 14 para. 1 of these Articles of Association. |
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Clearing Nominee | Clearing Nominee | |
Clearing Nomineebedeutet Nominees von Clearing Gesellschaften für Aktien (wie beispielsweise Cede & Co., der Nominee der Depository Trust Company, eine US securities and clearing agency), im Einklang mit den durch den Verwaltungsrat erlassenen Bestimmungen. | Clearing Nomineemeans nominees of clearing organizations for the Shares (such as Cede & Co., the nominee of the Depository Trust Company, a United States securities depositary and clearing agency) in accordance with regulations issued by the Board of Directors. | |
Eigentümer | Owner | |
Eigentümer(in), unter Einschluss der BegriffeEigentum, halten, gehalten, Eigentümerschaft oder ähnlicher Begriffe, bedeutet, wenn verwendet mit Bezug auf Aktien, jede Zivilrechtliche Person, welche allein oder zusammen mit oder über | Owner, including the termsOwn,Owned andOwnershipwhen used with respect to any Shares means a Person that individually or with or through any of its Affiliates or Associates: | |
(a) wirtschaftliche Eigentümerin dieser Aktien ist, ob direkt oder indirekt; | (a) beneficially Owns such Shares, directly or indirectly; |
F-24
(b) (1) das Recht hat, aufgrund eines Vertrags, einer Absprache oder einer anderen Vereinbarung, oder aufgrund der Ausübung eines Wandel-, Tausch-, Bezugs- oder Optionsrechts oder anderweitig Aktien zu erwerben (unabhängig davon, ob dieses Recht sofort ausübbar ist oder nur nach einer gewissen Zeit); vorausgesetzt, dass eine Person nicht als Eigentümerin derjenigen Aktien | (b) has (1) the right to acquire such Shares (whether such right is exercisable immediately or only after the passage of time) pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights, warrants or options, or otherwise; provided, however, that a Person shall not be deemed the Owner of Shares tendered pursuant to a tender or exchange offer made by such Person or any of such Person’s Affiliates or Associates until such tendered Shares are accepted for purchase or exchange; or (2) the right to vote such Shares pursuant to any agreement, arrangement or understanding; provided, however, that a Person shall not be deemed the Owner of any Shares because of such Person’s right to vote such Shares if the agreement, arrangement or understanding to vote such Shares arises solely from a revocable proxy or consent given in response to a proxy or consent solicitation made to 10 or more Persons; or |
F-26
(c) zwecks Erwerbs, Haltens, Stimmrechtsausübung (mit Ausnahme der Stimmrechtsausübung aufgrund einer widerruflichen Vollmacht (proxy) oder Zustimmung wie in diesen Statuten umschrieben) oder Veräusserung dieser Aktien mit einer anderen Zivilrechtlichen Person in einen Vertrag, eine Absprache oder eine andere Vereinbarung getreten ist, die direkt oder indirekt entweder selbst oder über ihr Nahestehende Gesellschaften oder Nahestehende Personen wirtschaftlich Eigentümerin dieser Aktien ist. | (c) has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting (except voting pursuant to a revocable proxy or consent as described in these Articles of Association), or disposing of such Shares with any other Person that beneficially Owns, or whose Affiliates or Associates beneficially Own, directly or indirectly, such Shares. | |
Generalversammlung | General Meeting of Shareholders | |
Der BegriffGeneralversammlunghat die in Artikel 15 Absatz 1 dieser Statuten aufgeführte Bedeutung. | The termGeneral Meeting of Shareholders has the meaning assigned to it in Article 15 para. 1 of these Articles of Association. | |
Gesamtstimmen | Total Voting Shares | |
Der Begriff“Gesamtstimmen” bedeutet die Gesamtzahl aller an einer Generalversammlung stimmberechtigen Aktien unabhängig davon, ob die stimmberechtigten Aktien an der Generalversammlung vertreten sind oder nicht. | Total Voting Shares means the total number of Shares entitled to vote at a General Meeting of Shareholders whether or not represented at such meeting. |
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Gesellschaft | Company | |
Der BegriffGesellschafthat die in Artikel 1 dieser Statuten aufgeführte Bedeutung. | The termCompanyhas the meaning assigned to it in Article 1 of these Articles of Association. |
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Kontrolle | Control | |
Kontrolle, einschliesslich | Control, including theterms controlling,controlled byandunder common control with, means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the Ownership of voting shares, by contract, or otherwise. A Person who is the Owner of 20% or more of the issued or outstanding voting shares of any corporation, partnership, unincorporated association or other entity shall be presumed to have control of such entity, in the absence of proof by a preponderance of the evidence to the contrary. Notwithstanding the foregoing, a presumption of control shall not apply where such Person holds voting shares, in good faith and not for the purpose of circumventing this provision, as an agent, bank, broker, nominee, custodian or trustee for one or more Owners who do not individually or as a group have control of such entity. | |
Mit Umwandlungsrechten verbundene Obligationen | Rights-Bearing Obligations | |
Der Begriffmit Umwandlungsrechten | The termRights-Bearing Obligationshas the meaning assigned to it in Article 7 para. 1(a) of these Articles of Association. |
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Nahestehender Aktionäre | Interested Shareholder | |
Nahestehender Aktionärbedeutet jede Zivilrechtliche Person (unter Ausschluss der Gesellschaft oder jeder direkten oder indirekten Tochtergesellschaft, die zur Mehrheit von der Gesellschaft gehalten wird), (i) die Eigentümerin von 15% oder mehr des im Handelsregister eingetragenen Aktienkapitals (die eigenen Aktien der Gesellschaft davon ausgenommen) ist, oder (ii) die als Nahestehende Gesellschaft oder Nahestehende Person anzusehen ist und irgendwann in den drei unmittelbar vorangehenden Jahren vor dem Zeitpunkt, zu dem bestimmt werden muss, ob diese Zivilrechtliche Person ein Nahestehender Aktionär ist, Eigentümerin von 15% oder mehr des im Handelsregister eingetragenen Aktienkapitals (die eigenen Aktien der Gesellschaft davon | Interested Shareholdermeans any Person (other than the Company or any direct or indirect majority-Owned subsidiary of the Company) (i) that is the Owner of 15% or more of the share capital registered in the Commercial Register (excluding treasury shares) or (ii) that is an Affiliate or Associate of the Company and was the Owner of 15% or more of the share capital registered in the Commercial Register (excluding treasury shares) at any time within the three-year period immediately prior to the date on which it is sought to be determined whether such Person is an Interested Shareholder, and also the Affiliates and Associates of such Person; provided, however, that the term Interested Shareholder shall not include any Person whose |
F-26
Nahestehende Gesellschaft | Affiliate | |
Nahestehende Gesellschaftbedeutet jede Zivilrechtliche Person, die direkt oder indirekt über eine oder mehrere Mittelspersonen eine andere Person kontrolliert, von einer anderen Zivilrechtlichen Person kontrolliert wird, oder unter gemeinsamer Kontrolle mit einer anderen Zivilrechtlichen Person steht. | Affiliatemeans a Person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, another Person. |
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Nahestehende Person | Associate | |
Nahestehende Personbedeutet, wenn verwendet zur Bezeichnung einer Beziehung zu einer Zivilrechtlichen Person, (i) jede Kapitalgesellschaft, rechts- oder | Associate, when used to indicate a relationship with any Person, means (i) any corporation, partnership, unincorporated association or other entity of which such Person is a director, officer or partner or is, directly or indirectly, the Owner of 20% or more of any class of voting shares, (ii) any trust or other estate in which such Person has at least a 20% beneficial interest or as to which such Person serves as trustee or in a similar fiduciary capacity, and (iii) any relative or spouse of such Person, or any relative of such spouse, who has the same residence as such Person. | |
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OR | CO | |
Der BegriffORhat die in Artikel 1 dieser Statuten aufgeführte Bedeutung. | The termCOhas the meaning assigned to it in Article 1 of these Articles of Association. | |
Ordentliche Generalversammlung | Annual General Meeting | |
Der Begriffordentliche Generalversammlunghat die in Artikel 13 Absatz 1 dieser Statuten aufgeführte Bedeutung. | The termAnnual General Meetinghas the meaning assigned to it in Article 13 para. 1 of these Articles of Association. | |
Organisationsreglement | By-Laws | |
Das erstmals am [ ] vom Verwaltungsrat erlasseneOrganisationsreglement, jeweils in seiner aktuellsten Fassung. | TheBy-Lawsfirst released by the Board of Directors on [ ] in their most recent version. | |
SEC | SEC | |
Der BegriffSEChat die in Artikel | The termSEChas the meaning assigned to it in Article | |
Transfer Agent | Transfer Agent | |
Der BegriffTransfer Agenthat die in Artikel 8 Absatz 3 dieser Statuten aufgeführte Bedeutung. | The termTransfer Agenthas the meaning assigned to it in Article 8 para. 3 of these Articles of Association. |
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Umwandlungsrechte | Rights | |
Der BegriffUmwandlungsrechtehat die in Artikel 7 Absatz 1(a) dieser Statuten aufgeführte Bedeutung. | The termRightshas the meaning assigned to it in Article 7 para. 1(a) of these Articles of Association. | |
Zivilrechtliche Person | Person | |
Zivilrechtliche Personbedeutet jede natürliche Person, Kapitalgesellschaft, rechts- oder nicht-rechtsfähige Personengesellschaft oder jeder andere Rechtsträger. | Personmeans any individual, corporation, partnership, unincorporated association or other entity. | |
Zusammenschluss | Business Combination | |
Zusammenschlussbedeutet, wenn im Rahmen dieser Statuten in Bezug auf die Gesellschaft oder einen Nahestehenden Aktionär der Gesellschaft verwendet: | Business Combination, when used in these Articles of Association in reference to the Company and any Interested Shareholder of the Company, means: | |
(a) jede Fusion oder andere Form des Zusammenschlusses der Gesellschaft oder einer direkten oder indirekten Tochtergesellschaft, die zur Mehrheit von der Gesellschaft gehalten wird, mit (1) dem Nahestehenden Aktionär oder (2) einer anderen Kapitalgesellschaft, rechts- oder | (a) any merger or consolidation of the Company or any direct or indirect majority-Owned subsidiary of the Company with (1) the Interested Shareholder or (2) |
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4 of these Articles of Association (including the relevant definitions in these Articles of Association pertaining thereto) or a provision substantially the same as such Article 12(f) and Article 21 para. | ||
(b) jeder Verkauf, jede Vermietung oder Verpachtung, jeder Tausch, jede hypothekarische Belastung oder andere Verpfändung, Übertragung oder andere Verfügung (ob in einer oder mehreren Transaktionen)von oder über Vermögenswerte(n) der Gesellschaft oder einer direkten oder indirekten Tochtergesellschaft, die zur Mehrheit von der Gesellschaft gehalten wird, an einen Nahestehenden Aktionär (ausser soweit der Zuerwerb unter einer der genannten Transaktionen proportional als Aktionär erfolgt), soweit diese Vermögenswerte einen Marktwert von 10% oder mehr entweder des auf konsolidierter Basis aggregierten Marktwertes aller Vermögenswerte der Gesellschaft oder des aggregierten Marktwertes aller dann ausgegebenen Aktien haben, unabhängig davon, ob eine dieser Transaktionen Teil einer Auflösung der Gesellschaft ist oder nicht; | (b) any sale, lease, exchange, mortgage, pledge, transfer or other disposition (in one transaction or a series of transactions), except proportionately as a shareholder, to or with the Interested Shareholder, whether as part of a dissolution or otherwise, of assets of the Company or of any direct or indirect majority-Owned subsidiary of the Company which assets have an aggregate market value equal to 10% or more of either the aggregate market value of all the assets of the Company determined on a consolidated basis or the aggregate market value of all the Shares then in issue; |
F-31
(c) jede Transaktion, die dazu führt, dass die Gesellschaft oder eine direkte oder indirekte Tochtergesellschaft, die zur Mehrheit von der Gesellschaft gehalten wird, Aktien oder Tochtergesellschafts-Aktien an den Nahestehenden Aktionär ausgibt oder überträgt, es sei denn (1) aufgrund der Ausübung, des Tauschs oder der Wandlung von Finanzmarktinstrumenten, die in Aktien oder Aktien einer direkten oder indirekten Tochtergesellschaft, die zur Mehrheit von der Gesellschaft gehalten wird, ausgeübt, getauscht oder gewandelt werden können, vorausgesetzt, die betreffenden Finanzmarktinstrumente waren zum Zeitpunkt, in dem der Nahestehende Aktionär zu einem solchem wurde, bereits ausgegeben; (2) als Dividende oder Ausschüttung, oder aufgrund der Ausübung, des Tauschs oder der Wandlung von Finanzmarktinstrumenten, die in Aktien oder Aktien einer direkten oder indirekten Tochtergesellschaft, die zur Mehrheit von der Gesellschaft gehalten wird, ausgeübt, getauscht oder gewandelt werden können, vorausgesetzt, diese Finanzinstrumente werden allen Aktionäre anteilsmässig ausgegeben, nachdem der Nahestehende Aktionär zu einem solchem wurde; (3) gemäss einem Umtauschangebot der Gesellschaft, Aktien von allen Aktionären zu den gleichen Bedingungen zu erwerben; oder (4) aufgrund der Ausgabe oder der Übertragung von Aktien durch die Gesellschaft; vorausgesetzt, dass in keinem der unter (2) bis (4) genannten Fällen der proportionale Anteil des Nahestehenden Aktionärs an den Aktien erhöht werden darf; | (c) any transaction which results in the issuance or transfer by the Company or by any direct or indirect |
F-29
under (2)-(4) above shall there be an increase in the Interested Shareholder’s proportionate interest in the Shares; | ||
(d) jede Transaktion, in welche die Gesellschaft oder eine direkte oder indirekte Tochtergesellschaft, die zur Mehrheit von der Gesellschaft gehalten wird, involviert ist, und die direkt oder indirekt dazu führt, dass der proportionale Anteil der vom Nahestehenden Aktionär gehaltenen Aktien, in Aktien wandelbare Obligationen oder Tochtergesellschafts-Aktien erhöht wird, ausser eine solche Erhöhung ist nur unwesentlich und die Folge eines Spitzenausgleichs für Fraktionen oder eines Rückkaufs oder einer Rücknahme von Aktien, soweit diese(r) weder direkt noch indirekt durch den Nahestehenden Aktionär verursacht wurde; oder | (d) any transaction involving the Company or any direct or indirect majority-Owned subsidiary of the Company which has the effect, directly or indirectly, of increasing the proportionate interest in the Shares, or securities convertible into the Shares, or in the shares of any such subsidiary which is Owned by the Interested Shareholder, except as a result of immaterial changes due to fractional share adjustments or as a result of any purchase or redemption of any Shares not caused, directly or indirectly, by the Interested Shareholder; or |
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(e) jede direkte oder indirekte Gewährung von Darlehen, Vorschüssen, Garantien, Bürgschaften, oder garantieähnlichen Verpflichtungen, Pfändern oder anderen finanziellen Begünstigungen (mit Ausnahme einer solchen, die gemäss den Unterabschnitten (a) - (d) dieses Artikels ausdrücklich erlaubt ist sowie einer solchen, die proportional an alle Aktionäre erfolgt) durch die oder über die Gesellschaft oder eine direkte oder indirekte Tochtergesellschaft, die zur Mehrheit von der Gesellschaft gehalten wird, an den Nahestehenden Aktionär. | (e) any receipt by the Interested Shareholder of the benefit, directly or indirectly (except proportionately as a shareholder), of any loans, advances, guarantees, pledges or other financial benefits (other than those expressly permitted in subsections (a) - (d) immediately above) provided by or through the Company or any direct or indirect majority-Owned subsidiary of the Company. | |
IX. Übergangsbestimmung | IX. Transitional Provision | |
Sacheinlagevertrag | Contribution in Kind Agreement | |
Die Gesellschaft übernimmt bei der Kapitalerhöhung vom [l] von der Noble Corporation in Grand Cayman, Cayman Islands (“Noble-Cayman”), gemäss Sacheinlagevertrag vom [l] (“Sacheinlagevertrag”) [l] Aktien (ordinary shares) der Noble-Cayman. Diese Aktien werden zu einem Übernahmewert von insgesamt Schweizer Franken [l] übernommen. Als Gegenleistung für diese Sacheinlage gibt die Gesellschaft einem | In connection with the capital increase of [l], and in accordance with the contribution in kind agreement dated as of [l] (the “Contribution in Kind Agreement”), the Company acquires [l] ordinary shares of Noble Corporation, Grand Cayman, Cayman Islands (“ |
F-30
Noble-Cayman, a total of [l] Shares with a total par value of Swiss Francs [l]. The difference between the aggregate par value of the issued Shares and the total value of the contribution in the amount of Swiss Francs [l] is allocated to the reserves of the Company. | ||
[Ort], [Datum] | [Place], [date] |
F-31F-33
Allgemeine Bestimmungen | F-1 | |||||
I. | General Provisions | F-1 | ||||
Artikel 1: Firma, Sitz, Dauer | F-1 | |||||
Article 1: Corporate Name, Registered Office, Duration | F-1 | |||||
Artikel 2: Zweck | F-1 | |||||
Article 2: Purpose | F-1 | |||||
Artikel 3: Dauer | ||||||
Article 3: Duration | ||||||
Aktienkapital | F-2 | |||||
II. | Share Capital | F-2 | ||||
Artikel 4: Anzahl Aktien, Nominalwert, Art | F-2 | |||||
Article 4: Number of Shares, Par Value, Type | F-2 | |||||
Artikel 5: Anerkennung der Statuten | F-2 | |||||
Article 5: Recognition of Articles | F-2 | |||||
Artikel 6: Genehmigtes Aktienkapital | F-2 | |||||
Article 6: Authorized Share Capital | F-2 | |||||
Artikel 7: Bedingtes Aktienkaptial | F-4 | |||||
Article 7: Conditional Share Capital | F-4 | |||||
Artikel 8: Aktienzertifikate | F-6 | |||||
Article 8: Share Certificates | F-6 | |||||
Artikel 9: Aktienbuch, Rechtsausübung, Eintragungsbeschränkungen, Nominees | ||||||
Article 9: Share Register, Restrictions on Registration, Nominees | ||||||
Artikel 10: Rechtsausübung | F-9 | |||||
Article 10: Exercise of Rights | F-9 | |||||
Organe und Organisation der Gesellschaft | F-9 | |||||
III. | Corporate Bodies and Organization of the Company | F-9 | ||||
Artikel 11: Gesellschaftsorgane | F-9 | |||||
Article 11: Corporate Bodies | F-9 | |||||
A. Generalversammlung | F-9 | |||||
A. General Meeting of the Shareholders | F-9 | |||||
Artikel 12: Befugnisse | F-9 | |||||
Article 12: Authority | F-9 | |||||
Artikel 13: Ordentliche Generalversammlung | F-10 | |||||
Article 13: Annual General Meeting | F-10 | |||||
Artikel 14: Ausserordentliche Generalversammlung | ||||||
Article 14: Extraordinary General Meeting | ||||||
Artikel 15: Einberufung der Generalversammlung | F-11 | |||||
Article 15: Notice of Shareholders’ Meetings | F-11 | |||||
Artikel 16: Traktandierung; Nominierungen | F-12 | |||||
Article 16: Agenda; Nominations | F-12 | |||||
Artikel 17: Vorsitz der | ||||||
Article 17: Acting Chair, Minutes, Vote Counters | ||||||
Artikel 18: Recht auf Teilnahme, Vertretung der Aktionäre | F-14 |
F-32F-34
Article 18: Right to Participation and Representation | F-14 | |||||
Artikel 19: Stimmrechte | F-14 | |||||
Article 19: Voting Rights | F-14 | |||||
Artikel 20: Beschlüsse und Wahlen: Mehrheitserfordernisse | ||||||
Article 20: Resolutions and Elections: Voting Requirements | ||||||
Artikel 21: Besonderes Stimmen Quorum | ||||||
Article 21: Special Vote | ||||||
Artikel 22: Präsenzquorum | ||||||
Article 22: Presence Quorum | ||||||
B. Verwaltungsrat | ||||||
B. Board of Directors | ||||||
Artikel 23: Anzahl Verwaltungsräte | ||||||
Article 23: Number of Directors | ||||||
Artikel 24: Amtsdauer | F-20 | |||||
Article 24: Term of Office | F-20 | |||||
Artikel 25: Organisation des Verwaltungsrats, Entschädigung | ||||||
Article 25: Organization of the Board, Remuneration | ||||||
Artikel 26: Befugnisse des Verwaltungsrats | ||||||
Article 26: Specific Powers of the Board | ||||||
Artikel 27: Kompetenzdelegation | ||||||
Article 27: Delegation of Powers | ||||||
Artikel 28: Sitzung des Verwaltungsrats | ||||||
Article 28: Meeting of the Board of Directors | ||||||
Artikel 29: Zeichnungsberechtigung | ||||||
Article 29: Signature Power | ||||||
C. Revisionsstelle | ||||||
C. Auditor | ||||||
Artikel 30: Amtsdauer, Befugnisse und Pflichten | ||||||
Article 30: Term, Power, Duties | ||||||
Jahresrechnung, Konzernrechnung und Gewinnverteilung | ||||||
IV. | Annual Statutory Financial Statements, Consolidated Financial Statements and | |||||
Artikel 31: Geschäftsjahr | ||||||
Article 31: Fiscal Year | ||||||
Artikel 32: Verteilung des Bilanzgewinns, Reserven | ||||||
Article 32: Allocation of Profit Shown on the Annual Statutory Balance Sheet, Reserves | ||||||
Auflösung, Liquidation | ||||||
V. | Winding-up and Liquidation | |||||
Artikel 33: Auflösung und Liquidation | ||||||
Article 33: Winding-up and Liquidation | ||||||
Bekanntmachungen, Mitteilungen | ||||||
VI. | Announcements, Communications | |||||
Artikel 34: Bekanntmachungen, Mitteilungen | ||||||
Article 34: Announcements, Communications | ||||||
Verbindlicher Originaltext |
F-35
VII. | Original Language |
F-33
Definitionen | ||||||
VIII. | Definitions | |||||
Artikel 35: Definitionen | ||||||
Article 35: Definitions | ||||||
Übergangsbestimmung | ||||||
IX. | Transitional Provision | |||||
Sacheinlagevertrag | ||||||
Contribution in Kind Agreement |
F-34F-36
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G-6 | ||||
G-7 | ||||
G-7 | ||||
G-7 | ||||
G-7 | ||||
G-7 | ||||
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G-8 | ||||
G-8 | ||||
G-8 | ||||
G-8 | ||||
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G-9 | ||||
G-9 | ||||
G-9 | ||||
G-10 | ||||
G-11 | ||||
G-13 | ||||
G-13 | ||||
G-13 | ||||
G-13 | ||||
G-13 | ||||
G-13 | ||||
G-13 | ||||
G-13 |
G-1
1. | Scope and Basis |
2. | Corporate Organization |
3. | The Board |
G-2
G-3
G-4
G-5
4. | Chairman |
G-6
5. | Board Committees |
6. | Chief Executive Officer |
G-7
7. | President |
7.1 | Powers and Duties |
8. | Executive Management, Officers |
G-8
G-8
9. | Director Emeritus |
10. |
G-9
G-10
G-11
G-12
11. | General |
12. | Final Provisions |
G-13
December 4, | ||||
2008 | ||||
ASSETS | ||||
Cash and cash equivalents | $ | 82 | ||
Total assets | $ | 82 | ||
LIABILITIES AND SHAREHOLDER’S EQUITY | ||||
Shares, CHF 0.01 par value per share; 10,000 shares authorized, issued and outstanding | $ | 82 | ||
Total shareholder’s equity | 82 | |||
Total liabilities and shareholder’s equity | $ | 82 | ||
December 10, | ||||
2008 | ||||
ASSETS | ||||
Cash and cash equivalents | $ | 82 | ||
Total assets | $ | 82 | ||
LIABILITIES AND SHAREHOLDER’S EQUITY | ||||
Shares, CHF 0.01 par value per share; 10,000,000 shares authorized, issued and outstanding | $ | 82 | ||
Total shareholder’s equity | 82 | |||
Total liabilities and shareholder’s equity | $ | 82 | ||
H-1
NOTE 1 — | Nature of Business |
NOTE 2 — | Significant Accounting Policy |
H-2
I-1
December 4, | ||||
2008 | ||||
ASSETS | ||||
Cash and cash equivalents | $ | 82 | ||
Total assets | $ | 82 | ||
LIABILITIES AND SHAREHOLDER’S EQUITY | ||||
Shares, CHF 0.01 par value per share; 10,000 shares authorized, issued and outstanding | $ | 82 | ||
Total shareholder’s equity | 82 | |||
Total liabilities and shareholder’s equity | $ | 82 | ||
December 10, | ||||
2008 | ||||
ASSETS | ||||
Cash and cash equivalents | $ | 82 | ||
Total assets | $ | 82 | ||
LIABILITIES AND SHAREHOLDER’S EQUITY | ||||
Shares, CHF 0.01 par value per share; 10,000,000 shares authorized, issued and outstanding | $ | 82 | ||
Total shareholder’s equity | 82 | |||
Total liabilities and shareholder’s equity | $ | 82 | ||
I-2
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THERE ARE THREE WAYS TO DELIVER YOUR PROXY TELEPHONE INTERNET MAILThis method is available for residents of U.S. Visit the Internet website at Simply complete, sign and date your Proxy and Canada. On a touch tone telephone, callwww.proxyonline.com. Enter the unique Card and return it in the postage-paidTOLL FREE 1-[ ], 24 hours a day, 7 “Control Number” shown below and follow envelope. If you are delivering your proxy by days a week. You will be prompted to the instructions on your screen. You will telephone or the Internet, please do not mail provide your unique “Control Number” incur only your usual internet charges. your Proxy Card. shown below. Have your Proxy Card ready, Available until [ ] Eastern Time on [ ], then follow the prerecorded instructions. [ ], 2009. Available until [ ] Eastern Time on [ ], [ ], 2009. CONTROL NUMBER [ ] TO DELIVER YOUR PROXY BY MAIL, PLEASE DETACH PROXY CARD HERE 7 Please mark votes as in this exampleFOR AGAINST ABSTAIN FOR AGAINST ABSTAINItem 1. Approval of the merger, Item 2. Approval of the motion to reorganization and consolidation adjourn the meeting to a later date transaction to be effected by the to solicit additional proxies if Schemes of Arrangement, copies there are insufficient votes at the of which are attached to the time of the meeting to approve the accompanying proxy statement as merger, reorganization and Annex B.THE BOARD OFconsolidation transaction.THE DIRECTORS RECOMMENDS BOARD OF DIRECTORS A VOTE “FOR” APPROVAL. RECOMMENDS A VOTE “FOR” APPROVAL.IN THEIR DISCRETION, THE PROXIES ARE AUTHORIZED TO VOTE UPON SUCH OTHER MATTERS AS MAY PROPERLY COME BEFORE THE MEETING OR ANY ADJOURNMENT THEREOF. Change of address and/or comments? Mark here. Date: Signature(s) Signature(s) Sign exactly as your name appears hereon. (If shares are held by joint tenants, both should sign. If signing as Attorney, Executor, Administrator, Trustee or Guardian, please give your title as such. If the signer is a corporation, please sign in the full corporate name by duly authorized officer.) Votes must be indicated [X] in black or blue ink. (Please complete, date and sign this proxy card and return it promptly in the enclosed postage prepaid envelope.) |
PLEASE DETACH PROXY CARD HERENOBLE CORPORATION 13135 SOUTH DAIRY ASHFORD, SUITE 800 SUGAR LAND, TEXAS 77478 PROXY P Proxy Solicited on Behalf of the Board of Directors. RThe undersigned, revoking any proxy heretofore given for the Meeting of the Members described below, hereby appoints David W. Williams, Thomas L. Mitchell and Julie J. Robertson, and each of them, proxies, with full powers of substitution, toOrepresent the undersigned at Meeting of Members of Noble Corporation to be held on , 2009, and at any adjournment thereof, and to vote all shares that the undersigned would be entitled to vote if personally present as follows:XThe shares represented by this proxy, when properly executed and returned, will be voted as directed herein. IF THIS PROXY IS DULY EXECUTED AND RETURNED, AND NO VOTING DIRECTIONS ARE GIVEN HEREIN, SUCH SHARESYWILL BE VOTED “FOR” APPROVAL OF ITEMS 1 AND 2. The undersigned hereby acknowledges receipt of notice of, and the proxy statement for, the aforesaid Meeting of Members. (Continued and to be signed and dated on the reverse side) SEE REVERSE SIDE |
THERE ARE THREE WAYS TO DELIVER YOUR VOTING INSTRUCTIONS TELEPHONE INTERNET MAILThis method is available for residents of U.S. Visit the Internet website at Simply complete, sign and date your Voting and Canada. On a touch tone telephone, callwww.proxyonline.com. Enter the unique Instruction Card and return it in the postage-TOLL FREE 1-[ ], 24 hours a day, 7 “Control Number” shown below and follow paid envelope. If you are delivering your days a week. You will be prompted to the instructions on your screen. You will voting instructions by telephone or the provide your unique “Control Number” incur only your usual internet charges. Internet, please do not mail your Voting shown below. Have your Voting Instruction Available until [ ] Eastern Time on [ ], Instruction Card. Card ready, then follow the prerecorded [ ], 2009. instructions. Available until [ ] Eastern Time on [ ], [ ], 2009. CONTROL NUMBER TO DELIVER YOUR VOTING INSTRUCTIONS BY MAIL, PLEASE DETACH VOTING INSTRUCTION CARD HERE 7 Please mark votes as in this exampleFOR AGAINST ABSTAIN FOR AGAINST ABSTAIN Item 1. Approval of the merger, Item 2. Approval of the motion to reorganization and consolidation adjourn the meeting to a later date transaction to be effected by the to solicit additional proxies if there Schemes of Arrangement, copies are insufficient votes at the time of of which are attached to the the meeting to approve the merger, accompanying proxy statement as reorganization and consolidation Annex B.THE BOARD OFtransaction.THE BOARD OF DIRECTORS RECOMMENDS DIRECTORS RECOMMENDS A VOTE “FOR” APPROVAL. A VOTE “FOR” APPROVAL.Change of address and/or comments? Mark here. Date: Signature(s) of 401(k) Plan Participant This voting instruction card should be signed exactly as your name appears hereon. Voting instructions must be indicated [X] in black or blue ink. (Please complete, date and sign this voting instruction card and return it promptly in the enclosed postage prepaid envelope.) |
PLEASE DETACH VOTING INSTRUCTION CARD HERENOBLE CORPORATION 13135 SOUTH DAIRY ASHFORD, SUITE 800 SUGAR LAND, TEXAS 77478 VOTING INSTRUCTION CARD FOR ORDINARY SHARES Voting Instructions Solicited on Behalf of the Board of Directors.The undersigned hereby instructs the trustee to vote, as designated below, all Ordinary Shares of Noble Corporation that are credited to the account(s) of the undersigned (whether or not vested) in the Noble Drilling Corporation 401(k) Savings Plan at the Meeting of Members of Noble Corporation to be held on [ ], 2009, and at any adjournment thereof, as more fully described in the notice of the Meeting and the proxy statement accompanying the same, receipt of which is hereby acknowledged. THIS VOTING INSTRUCTION CARD, WHEN DULY EXECUTED AND RETURNED, WILL BE VOTED BY THE TRUSTEE OF THE NOBLE DRILLING CORPORATION 401(k) SAVINGS PLAN (“401(k) PLAN”) IN THE MANNER DESIGNATED HEREIN BY THE UNDERSIGNED 401(k) PLAN PARTICIPANT. IF THIS VOTING INSTRUCTION CARD IS DULY EXECUTED AND RETURNED, BUT WITHOUT A CLEAR VOTING DESIGNATION, IT WILL BE VOTED “FOR” APPROVAL OF ITEMS 1 AND 2. (Continued and to be signed and dated on the reverse side) SEE REVERSE SIDE |