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HAMILTON, Bermuda, Nov. 12, 2024 /PRNewswire/ — Borr Drilling Restricted (“Borr Drilling” or the “Company”) (NYSE and OSE: BORR) refers to its announcement on 6 November 2024, the place the Corporate’s Board of Administrators approved the loyalty to repurchase $20 million virtue of stocks inside of pace finish 2024, below its up to now introduced $100 million percentage repurchase authorisation. The aim of this system is to carrier its shareholders by means of lowering the percentage capital. As an preliminary step below the repurchase program, the Board has approved the Corporate to buy as much as $10 million of the Corporate’s stocks (the “First Tranche”) through November 30, 2024, and the Corporate has entered an promise with DNB Markets (“DNB”) make happen the First Tranche in unhidden marketplace transactions on OSE and NYSE.
The First Tranche will start on November 13, 2024, and will probably be finished through November 30, 2024; equipped, on the other hand, that the Corporate might discontinue or droop the repurchases below the First Tranche at any past with out understand. Combination repurchases below the First Tranche are capped at $10 million and three million stocks, and the utmost quantity payable consistent with percentage is USD 5. The Corporate can not are expecting what number of stocks will probably be repurchased or the timing of any stocks repurchased below the First Tranche.
DNB will perform the Corporate’s directions at the acquisition of stocks, and can assemble its buying and selling choices independently of, and uninfluenced through, the Corporate. The First Tranche will probably be finished in line with the Marketplace Abuse Legislation (EU) Deny 596/2014 (“MAR”) and Fee Delegated Legislation (EU) 2016/1052 (“Safe Harbour Regulation”).
This knowledge is matter of the disclosure necessities pursuant to Category 5-12 of the Norwegian Securities Buying and selling Office and Article 5 of the Marketplace Abuse Legislation.
Ahead-Having a look Statements
This press shed comprises forward-looking statements inside the which means of the Personal Securities Litigation Reform Office of 1995. All statements alternative than statements of historic information incorporated on this press shed, are forward-looking statements, together with statements in regards to the repurchase program introduced on this shed, the First Tranche, the timing and quantity of repurchases of the stocks that can be made below the repurchase program together with the First Tranche and alternative non-historical statements. Such ahead searching statements are primarily based upon control’s flow plans, expectancies, guesses and ideology and are matter to quite a few dangers, uncertainties and guesses that would motive original effects to fluctuate materially from the ones expressed or implied within the forward-looking statements, together with dangers similar to the original quantity of stocks in the long run repurchased below the percentage repurchase program together with the First Tranche and the costs and timing thereof, dangers in terms of to be had liquidity, limits below debt tools and alternative limits on our talent to repurchase stocks and alternative dangers and uncertainties described within the category entitled “Risk Factors” in our most up-to-date annual document on Mode 20-F filed with (and alternative filings with) the Securities and Change Fee. Those forward-looking statements are made handiest as of the age of this shed. We don’t adopt to replace or revise the forward-looking statements, whether or not because of untouched knowledge, month occasions or differently.
CONTACT:
Questions will have to be directed to: Magnus Vaaler, CFO, +44 1224 289208
This knowledge used to be dropped at you through Cision http://news.cision.com
SOURCE Borr Drilling Restricted
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