AWO Prospectus - COSL Drilling Europe AS

Awilco Offshore ASA
The following table sets forth the 20 largest shareholders of the Company, as registered in VPS as per 27
April 2005.
Name Nominee Nationality Shares Ownership
Awilco AS NOR 53,850,630 48.5%
Morgan Stanley & Co NOM GBR 4,347,000 3.9%
Goldman Sachs & Co NOM GBR 3,660,100 3.3%
Aweco Holding AS NOR 3,300,000 3.0%
Orkla ASA NOR 3,060,000 2.8%
Merrill Lynch International NOM GBR 2,500,000 2.3%
UBS AG, London Branch CHE 2,201,120 2.0%
Sabaro Investments Ltd LBR 1,946,200 1.8%
Bear Stearns International NOM USA 1,654,200 1.5%
Deutsche Bank (Suisse) CHE 1,637,000 1.5%
Bear Stearns NOM USA 1,569,400 1.4%
Morgan Stanley and Company NOM GBR 1,463,000 1.3%
Enskilda Securities Egenhandelskonto NOR 1,448,450 1.3%
Bank of New York NOM CYM 1,399,860 1.3%
Morgan Stanley and Company GBR 1,225,000 1.1%
The Northwestern Mutual Insurance Co USA 1,165,420 1.1%
Watrium AS NOR 1,100,000 1.0%
Miami AS NOR 1,100,000 1.0%
Barings (Guarnsey) Ltd NOM GBG 1,054,350 1.0%
Odin Norden NOR 1,000,000 0.9%
Sum, 20 largest 90,681,730 81.6%
Sum, remaining shareholders 20,451,620 18.4%
Total 111,133,350 100.0%
The shareholders referred to as being related to Wilhelmsen family members are Aweco Holding AS,
Miami AS, and Watrium AS. Mr Arne Alexander Wilhelmsen has 33.2% ownership interest in Aweco
Holding AS.
Prior to the expected admission to listing of the Company’s shares on the Oslo Stock Exchange, the
shares are traded in the over-the-counter market maintained by the Norwegian Association of
Stockbroking Companies. For the period from 23 February to 26 April 2005, the average number of
shares traded in the over-the-counter market was approximately 437,000, corresponding to an average
value of daily trading of approximately NOK 9.8 million.
At the close of the over-the-counter market on 27 April 2005, the last quotation price for the Company’s
shares was NOK 22.50. Based on such share price, the equity capitalisation of the Company’s shares
corresponds with NOK 2,500 million.
8.2 Shareholder policy and corporate governance
Corporate governance
Awilco Offshore is dedicated to observing high standards of corporate governance, based on the
principles set forth in the Norwegian Code of Practice for Corporate Governance, as published on 7
December 2004 (the “Code of Practice”). The Company's Board and management are carrying out an
assessment with regard to the implementation of the recommendations of the Code of Practice. The
Company will annually produce a report as to corporate governance, which will be included in its annual
report. It is the Company’s ambition to adopt the recommendations set forth in the Code of Practice. To
the extent that the Company does not fully adhere to all the recommendations in the Code of Practice,
the reasons for choosing an alternative approach will be explained in this report.
44