Transocean Launches Twitter Handle to Foster Shareholder Interaction
Transocean Ltd. (NYSE: RIG) today released videos from Chairman of the Board of Directors, J. Michael Talbert; Director and Corporate Governance Chair, Martin McNamara; President and Chief Executive Officer, Steven Newman; and Executive Vice President and Chief Financial Officer, Esa Ikäheimonen, on its recently launched website www.transoceanvalue.com. Transocean and its Board of Directors remain committed to ensuring consistent and transparent communication with its shareholders. Aligned with that effort, the company also launched a Twitter handle @TransoceanValue.
Within the videos, Transocean's leadership shares the company's key positions and recommendations outlined in the proxy statement for the May 17, 2013 Annual General Meeting ("AGM"). These include:
* The Board has proposed a dividend of $2.24 per share - or approximately $800 million in the aggregate - which supports the company's balanced capital allocation strategy and represents one of the industry's largest payout ratios and implied yields. The Board is confident that its proposed dividend will maximize long-term value creation and, importantly, in its view, establishes a basis that is sustainable and supports future dividend increases as business conditions warrant.
* The company has put forth five highly qualified and diverse Director nominees - Frederico F. Curado, Thomas W. Cason, Steven L. Newman, Robert M. Sprague and J. Michael Talbert - with very deep industry experience and unique viewpoints. The election of Mr. Curado would represent the seventh new director in the last two years, aligning with the company's efforts to regularly infuse fresh perspectives into an extraordinarily experienced and knowledgeable Board.
* The company has made significant and tangible progress toward its goals to improve its operational and financial performance, including improved revenue efficiency, utilization and cash flow from operations.
The company encourages shareholders to watch these compelling video perspectives from Transocean's leadership as they discuss their commitment to delivering long-term value to shareholders.
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