HAMILTON, Bermuda, Oct. 31, 2024 /PRNewswire/ — Paratus Power Services and products Ltd. (Oslo: PLSV) (the “Company”) refers back to the Corporate’s announcement of massive shareholding in Archer Restricted, to be had on ticker “ARCH” and put forth underneath.

Archer Restricted: Disclosure of massive shareholding

Hamilton, Bermuda (31 October 2024)

Reference is made to the bulletins made through Archer Restricted (“Archer” or the “Company”) on 30 October 2024 and 31 October 2024 in regards to the non-public placement (the “Private Placement”) of unused stocks within the Corporate (“Shares”).

Paratus JU Newco Bermuda Restricted, an entirely owned subsidiary of Paratus Power Services and products Ltd. (“Paratus”), has subscribed for and been conditionally allotted 5,891,614 Stocks within the Non-public Placement introduced through Archer. Paratus has been allotted Stocks in Tranche 2, and the issuance and supply of such stocks are matter to goodwill through the particular basic assembly in Archer.

Previous to the Non-public Placement, Paratus held 15,692,212 Stocks, representing 24.15% of the proportion capital and votes within the Corporate.

Following the supply of Stocks in tranche 1 of the Non-public Placement, Paratus can be quickly diluted to 19.99% of the issued percentage capital of Archer, and can accordingly quickly pass underneath the 20% threshold pursuant to Category 4 -2 (1) of the Norwegian Securities Buying and selling Work.

Matter to, and following issuance and supply of the unused Stocks concerning Tranche 2 within the Non-public Placement, Paratus will reserve 21,583,826 Stocks in Archer, equivalent to 24.15% of the proportion capital of Archer. Paratus possession in Archer following the transaction is unchanged.

For additional data, please the following the clicking releases in regards to the Non-public Placement introduced through Archer on ticker “ARCH” on 30 October 2024 and 31 October 2024.

This data is matter to the disclosure necessities pursuant to category 4 -2 of the Norwegian Securities Buying and selling Work.

This data used to be delivered to you through Cision http://news.cision.com

https://news.cision.com/paratus-energy-services-ltd/r/disclosure-of-large-shareholding-announcement-by-archer-limited,c4059340

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