Noble Completes Paragon Offshore Spin-Off

(RTTNews) - Noble Corp. plc (NE) said Monday that it has completed the spin-off of all of the outstanding shares of Paragon Offshore plc (PGN), which owns most of Noble's standard specification drilling business.

As a result, Noble and Paragon are now two separate, publicly-traded companies.

On August 1, Noble distributed to its shareholders one ordinary share of Paragon for every three ordinary shares of Noble held at 5:00 p.m., New York City time, on the record date of the distribution, July 23.

Paragon ordinary shares began "regular-way" trading under the symbol "PGN" on the New York Stock Exchange on Monday, August 4. Noble ordinary shares will continue to trade on the NYSE under the symbol "NE."