Borr Drilling Ltd. initiated a share repurchase program on November 12, 2024 to repurchase USD 10 million of the Company's common shares in open market transactions on the OSE and NYSE until no later than November 30, 2024 pursuant to an agreement with DNB Markets, a part of DNB Bank ASA . This was the initial step under the Board of Directors authorized commitment to repurchase $20 million worth of shares before the end [...]
Borr Drilling Ltd. has received a notice of temporary suspension of operation for its rig "Arabia II", operating in Saudi Arabia. The temporary suspension will be for a period of up to 12 months. The commencement date of the suspension is still to be confirmed by the customer. Forward looking statements This press release includes forward looking statements, which do not reflect historical facts and may be identified by [...]
Borr Drilling Ltd. refers to its announcement on 6 November 2024, where the Company's Board of Directors authorized the commitment to repurchase $20 million worth of shares within year end 2024, under its previously announced $100 million share repurchase authorisation. The intention of the program is to service its shareholders by way of reducing the share capital. As an initial step under the repurchase program, the [...]
Drew Holdings Ltd., a close associate of Mr. Tor Olav Trøim, has on 8 November, 2024, bought 1,500,000 common shares in Borr Drilling Ltd. at an average price of $3.9335 per share. Mr. Trøim is the chairman of Borr's board and thus, as per the Market Abuse Directive, a person discharging managerial responsibilities in Borr . Mr. Trøim and his close associates will, following the completion of this transaction, own [...]
HAMILTON, Bermuda, Nov. 7, 2024 /PRNewswire/ -- Please find enclosed the presentation of Borr Drilling Ltd.'s third quarter 2024 results to be held on the webcast/conference call at 15:00 CET on November 7, 2024. In order to listen to the presentation, you may do one of the following: Webcast To access the webcast, please go to the following link: https://edge.media-server.com/mmc/p/fcm3dyij Conference Call Please use [...]
HAMILTON, The Board of Directors of Borr Drilling Ltd. informs that it has resolved to grant 136,612 Restricted Stock Units to its Directors. Each RSU represents one share in the Company. The RSUs will vest in full on September 30, 2025, and will be conditional on continuing to serve as a Director of the Company at the date of vesting. The RSUs will be settled through issuance of shares in the Company. Persons discharging [...]
Borr Drilling Ltd. announces unaudited results for the three and nine months ended September 30, 2024. Highlights Total operating revenues of $241.6 million, a decrease of $30.3 million or 11% compared to the second quarter of 2024 Net income of $9.7 million, a decrease of $22.0 million or 69% compared to the second quarter of 2024 Adjusted EBITDA of $115.5 million, a decrease of $20.9 million or 15% compared to the [...]
Borr Drilling Ltd. today announced that Euronext Oslo Stock Exchange has approved the Company's application for delisting, following an affirmative shareholder vote at the Company's Special General Meeting in October 2024. The Company's shares will be delisted from OSE as of 31 December 2024. The last day of trading will be 30 December 2024, and the Company will subsequently maintain a single listing on the New York Stock [...]
Borr Drilling Ltd. announced today that its wholly-owned subsidiary Borr IHC Limited has priced an offering of additional 10.375% senior secured notes due 2030 for gross proceeds of approximately $175 million. The Additional Notes will have the same terms and conditions as the existing $515 million aggregate principal amount of senior secured notes due 2030. The proceeds from the offering are intended to be used for the [...]
Borr Drilling Ltd. today announced certain preliminary unaudited results for the quarter ended September 30, 2024. For the three months ended September 30, 2024, the Company expects: total operating revenues of approximately $242 million, operating income of approximately $84 million, and Adjusted EBITDA of approximately $116 million. The Company expects approximately $186 million in cash and cash equivalents and $150.0 [...]
Borr Drilling Ltd. has today been advised by the Nordic Trustee AS that, pursuant to the summons for a written resolution dated 2 October 2024 for the Company's senior unsecured convertible bonds with ISIN NO0012828187 , the written resolutions have today been resolved and approved by the bondholders. CONTACT: Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208 This information was brought to you by [...]
Borr Drilling Ltd. has today requested Nordic Trustee AS to summon for a bondholders' written resolution for the Company's senior unsecured convertible bonds with ISIN NO0012828187 . The purpose of the written resolution is to approve a proposal to amend the bond terms in connection with the potential de-listing of the Company's shares from the Oslo Stock Exchange, as approved by a Special General Meeting of the [...]
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