Borr Drilling Ltd. advises that a Special General Meeting of the Company was held on November 11, 2020 at 09:30 AST at 2nd Floor, The S.E. Pearman Building, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda The following resolution was passed: To approve the increase of the Company's authorized share capital from US$11,182,692.30 divided into 223,653,846 common shares of US$0.05 par value each to US$11,932,692.30 divided into [...]
Borr Drilling Ltd. has entered into an agreement to sell its cold stacked jack-up drilling rig "Atla" to an independent operator. The completion of the sale is expected in the fourth quarter 2020. Together with the previously announced sale of the standard jack-up drilling rig "Eir", which has been completed in October, the Company will record total cash proceeds of USD 13 million. With the sale of these jack-ups, Borr [...]
Borr Drilling Ltd. advises that the Company will hold a Special General Meeting on November 11, 2020. The Board of Directors has fixed the close of business on October 23, 2020 as the record date for determination of the shareholders entitled to attend and vote at the Special General Meeting or any adjournment thereof. A copy of the Notice of Special General Meeting and Form of Proxy and associated information can be [...]
Borr Drilling Ltd. is pleased to announce the appointment of Christoph Bausch as its new Chief Financial Officer, replacing Mr. Francis Millet with effect from 1 November 2020. Patrick Schorn, Chief Executive Officer, commented: "I am pleased to announce Christoph as the new Chief Financial Officer of Borr Drilling. Christoph has been Chief Financial Officer of NYSE and OSE listed oilfield service companies for many years [...]
HAMILTON, Bermuda, Oct. 2, 2020 /PRNewswire/ -- Borr Drilling Ltd. is pleased to confirm the commencement of three previously announced contracts in Malaysia for the premium Jack Up drilling rigs Gunnlod and Saga with PTTEP and Mist with Roc Oil. The units started work during September in line with the original schedule. With the added complexity of COVID-19, our operational team, with support of our partners in Asia, has [...]
Reference is made to Borr Drilling Ltd.'s stock exchange notice dated 29 September 2020, announcing further concessions from its lenders and the decision to adjust the amount to be raised in the contemplated equity offering to USD 25-30 million. Borr Drilling is pleased to announce that the board of directors of the Company has approved the subscription and allocation of a total of 51,886,793 new depositary receipts [...]
Reference is made to Borr Drilling Ltd.'s stock exchange announcements of September 30, 2020, relating to the successfully completed equity offering through the subscription and allocation of 51,886,793 new depositary receipts , representing the beneficial interests in the same number of the Borr Drilling's underlying common shares, each at a subscription price of USD 0.53 per Offer Share, equivalent to NOK 5.01 per Offer [...]
Reference is made to Borr Drilling Ltd.'s announcement dated 22 September relating to the contemplated equity offering of USD 40-50 million in new depository receipts and the subsequent notice on 25 September 2020 announcing an extension of the application period of the Equity Offering. Borr Drilling is making good progress with its discussions with its lenders to improve the concessions previously announced and has [...]
Reference is made to Borr Drilling Ltd.'s announcement dated 22 September 2020 relating to the contemplated equity offering of USD 40-50 million in new depository receipts . Borr Drilling is currently in discussions with its lenders to improve the concessions previously announced and has therefore decided to extend the application period for the Equity Offering to 08:00 CET/2:00 am EST on 29 September 2020. The Company [...]
Borr Drilling Ltd. is contemplating offering USD 40-50 million in new depository receipts , representing the beneficial interests in the same number of the Company's underlying common shares, each with a par value of USD 0.05, and each at a subscription price of USD 0.70 . Certain investors have pre-committed to subscribe for Offer Shares in the Equity Offering in the amount of approximately USD 30 million, of which [...]
Borr Drilling Ltd. is pleased to announce that it has reached agreement with the bank syndicates and with Hayfin, who in sum provides USD595m in loan facilities, to extend their maturity to January 2023 and lower the minimum liquidity covenant to USD5m until maturity. The next step of the plan is to reach agreement with the yards before year end 2020 to extend all remaining instalments and maturities under the Company's [...]
Borr Drilling Ltd. today announced that the Company has received written notice from the New York Stock Exchange that the Company is not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE because the average closing price of its common shares had fallen below $1.00 per share over a period of 30 consecutive trading days. Under the NYSE rules, the [...]
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