Paragon Offshore Set to Join S&P SmallCap 600

NEW YORK, July 25, 2014 /PRNewswire/ -- Paragon Offshore Ltd. (NYSE: PGN) will replace Intevac Inc. (NASD: IVAC) in the S&P SmallCap 600 effective after the close of trading on Friday, August 1. S&P 500 constituent Noble Corp. (NYSE: NE) is spinning off Paragon Offshore to shareholders in a transaction expected to be completed after the close of trading on that date. Post spin, Noble will remain in the S&P 500. Intevac is ranked # 600 in the S&P SmallCap 600 and is no longer representative of that index.

Paragon Offshore is a provider of standard specification offshore drilling rigs. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Oil & Gas Drilling Sub-Industry index.

Following is a summary of the change:

S&P SMALLCAP 600 INDEX –  August 1, 2014


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Paragon Offshore

Energy

Oil & Gas Drilling

DELETED

Intevac

Information Technology

Technology Hardware, Storage & Peripherals

Additions to and deletions from S&P  Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.

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For more information:

David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
(212) 438 3907
david.blitzer@spdji.com 

David R. Guarino
Communications
S&P Dow Jones Indices
(212) 438 1471
dave.guarino@spdji.com

SOURCE S&P Dow Jones Indices



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