SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: November 25, 1996
READING & BATES CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 1-5587 73-0642271
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
901 Threadneedle, Suite 200, Houston, TX 77079
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (713) 496-5000
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99 - Press Release dated Novmeber 25, 1996 - Reading
& Bates announces Reading & Bates Drilling Co.
President L. E. (Sonny) Voss, Jr., retires,
Andrew Bakonyi named President.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf of the
undersigned thereunto duly authorized.
READING & BATES CORPORATION
By /s/T. W. Nagle
------------------------
T. W. Nagle
Executive Vice President,
Finance and Administration
(Principal Financial and
Accounting Officer)
Dated: November 25, 1996
EXHIBIT 99
Internet Address: http://www.rdgbat.com
FOR IMMEDIATE RELEASE Contact: Mr. Charles R. Ofner
(713) 496-5000
Reading & Bates Drilling Co. President L.E. (Sonny) Voss, Jr., Retires
Andrew Bakonyi Named President
November 25, 1996, Houston, Texas....Reading & Bates Corporation
(RB-NYSE) announced today that L.E. (Sonny) Voss, Jr., age 57, had
elected to retire effective December 1, 1996 from its wholly owned
subsidiary, Reading & Bates Drilling Co., under terms of his
employment contract. Paul B. Loyd, Jr., the Company's Chairman,
President and CEO said, "On behalf of Reading & Bates, I wish to
thank Mr. Voss for his 28 years of service with Reading & Bates,
during which time he rose from the position of driller to President
of Reading & Bates Drilling Co. My personal association with Sonny
goes back quite a few years with our having first worked together in
1973 in West Africa and there is no doubt in my mind that Sonny's
extensive operational experience and sound advice will be sorely
missed. We wish him the best during his upcoming retirement."
Reading & Bates Drilling Co. has named Andrew Bakonyi as its
President, effective December 1, 1996. Andrew Bakonyi is currently
Senior Vice President and Regional Manager for Reading & Bates
Drilling Co, and is based in Aberdeen, Scotland. He joined Reading &
Bates in 1977 as Operations Engineer and has served in numerous
engineering and operational management positions both overseas and in
Houston. Andrew is a graduate of the University of Adelaide,
South Australia with a BS in Electrical Engineering. Mr. Voss has
agreed to remain with the Company in a consulting capacity until
Andrew's transition and relocation to Houston is completed in first
quarter of 1997.
Reading & Bates is a New York Stock Exchange listed company,
providing offshore drilling services throughout the world. Its
wholly owned subsidiary, Reading & Bates Development Co., provides
technical, construction and project management services and subsea
and floating production systems to the upstream offshore oil and gas
industry worldwide.
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