Transocean Ltd. 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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