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2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
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Earn Out Relating to Sale of Drilling Unit<br />
• Base for the earn out relates to<br />
12 months revenue relating to<br />
specific products existing in the<br />
business at the time it was sold.<br />
• A 7.5% earn out of revenue<br />
exceeding certain levels<br />
• While the exact earn out is not<br />
possible to estimate reliably and<br />
depends on a number of factors<br />
outside <strong>TTS</strong> control, the award of<br />
equipment to drill ship improves<br />
likelihood of earn out.<br />
• <strong>TTS</strong> current view is that the gain<br />
on the drilling business sale, after<br />
repayment of debt, should be paid<br />
to shareholders
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