Transocean Ltd. says that at Extraordinary General Meeting shareholders elected Jeremy D. Thigpen, the company's President and Chief Executive Officer, as a member of the Board of Directors for a term extending until completion of the company's 2016 Annual General Meeting.
Shareholders also approved all other proposals of the Board of Directors as follows:
•The cancellation of the third and fourth installments of the dividend approved on May 15, 2015 at the company's annual general meeting;
•A reduction of the par value of each share of the company to CHF 0.10 from currently CHF 15; and
•The cancellation of all shares repurchased to date under the company's share repurchase program approved in 2009.
The Board of Directors thanks shareholders for participating in this process and for their support of its proposals.