How will the Redomestication be implemented?
The Redomestication has been approved by the Transocean Board of Directors and will be put to a vote of our shareholders at a meeting convened with the leave of the Grand Court of the Cayman Islands. Following the shareholders meeting and a return hearing before the Grand Court of the Cayman Islands, and assuming we have obtained the necessary approvals, we plan to effect the Redomestication by merging our current parent company with a newly formed Cayman Islands subsidiary of Transocean Ltd, our new Swiss parent company, by way of schemes of arrangement under Cayman Islands law, with our current parent company as the surviving company. As a result of the schemes of arrangement, our current Cayman Islands parent company will become a direct, wholly-owned subsidiary of the new Swiss parent company, and shares of our current Cayman Islands parent will be exchanged for shares of the new Swiss parent.Under Cayman Islands law, the Redomestication requires the affirmative vote of a majority
