Borr Drilling Limited - Announcing Voluntary Delisting from Oslo Stock Exchange
Borr Drilling has announced its voluntary delisting from the Euronext Oslo Stock Exchange (OSE), effective December 31, 2024, following shareholder approval at October's Special General Meeting. The last trading day on OSE will be December 30, 2024. The company will maintain its NYSE listing exclusively.
Shareholders with OSE-traded shares can either sell through open market transactions or transfer their holdings to the US Depository Trust Company for NYSE trading. The company will maintain VPS share registration for at least 12 months post-delisting, allowing shareholders to continue trading via Norwegian brokers or migrate to DTC.
Borr Drilling ha annunciato il suo delisting volontario dalla Borsa di Oslo Euronext (OSE), a partire dal 31 dicembre 2024, dopo l'approvazione degli azionisti avvenuta nella riunione generale straordinaria di ottobre. L'ultimo giorno di contrattazione sull'OSE sarà il 30 dicembre 2024. L'azienda manterrà esclusivamente la sua quotazione al NYSE.
Gli azionisti con azioni trattate sull'OSE possono scegliere di vendere attraverso transazioni di mercato aperto oppure trasferire le loro partecipazioni alla Depository Trust Company degli Stati Uniti per la contrattazione al NYSE. L'azienda manterrà la registrazione VPS delle azioni per almeno 12 mesi dopo il delisting, consentendo agli azionisti di continuare a negoziare tramite broker norvegesi o migrare verso la DTC.
Borr Drilling ha anunciado su exclusión voluntaria de la Bolsa de Valores de Oslo Euronext (OSE), efectiva a partir del 31 de diciembre de 2024, tras la aprobación de los accionistas en la Junta General Extraordinaria de octubre. El último día de negociación en OSE será el 30 de diciembre de 2024. La compañía mantendrá exclusivamente su cotización en el NYSE.
Los accionistas con acciones negociadas en OSE pueden venderlas a través de transacciones en el mercado abierto o transferir sus participaciones a la Depository Trust Company de Estados Unidos para negociar en el NYSE. La compañía mantendrá el registro de acciones VPS durante al menos 12 meses posteriores a la exclusión, permitiendo a los accionistas continuar negociando a través de brókeres noruegos o migrar a la DTC.
Borr Drilling은 2024년 12월 31일부로 오슬로 유로넥스트 증권거래소(OSE)에서 자발적으로 상장 폐지한다고 발표했습니다. 이는 10월 특별 총회에서 주주 승인을 받은 결과입니다. OSE에서의 마지막 거래일은 2024년 12월 30일입니다. 이 회사는 NYSE 상장을 단독으로 유지할 것입니다.
OSE에서 거래되는 주식을 가진 주주들은 공개 시장 거래를 통해 매도하거나, 미국 예탁신탁회사(DTC)로 보유 주식을 이전하여 NYSE에서 거래할 수 있습니다. 이 회사는 상장 폐지 후 최소 12개월 동안 VPS 주식 등록을 유지하여 주주들이 노르웨이 중개인을 통해 계속 거래하거나 DTC로 이전할 수 있도록 합니다.
Borr Drilling a annoncé son retrait volontaire de la Bourse d'Oslo Euronext (OSE), effectif à partir du 31 décembre 2024, après l'approbation des actionnaires lors de l'assemblée générale extraordinaire d'octobre. Le dernier jour de négociation sur l'OSE sera le 30 décembre 2024. La société maintiendra exclusivement son inscription au NYSE.
Les actionnaires détenant des actions négociées sur l'OSE peuvent soit vendre via des transactions sur le marché, soit transférer leurs participations à la Depository Trust Company aux États-Unis pour une négociation au NYSE. L'entreprise maintiendra l'enregistrement des actions VPS pendant au moins 12 mois après le retrait, permettant aux actionnaires de continuer à négocier via des courtiers norvégiens ou de migrer vers la DTC.
Borr Drilling hat seine freiwillige Delistung von der Euronext Oslo Börse (OSE) zum 31. Dezember 2024 bekannt gegeben, nachdem die Aktionäre auf der außerordentlichen Hauptversammlung im Oktober zugestimmt haben. Der letzte Handelstag an der OSE wird der 30. Dezember 2024 sein. Das Unternehmen wird seine NYSE-Notierung ausschließlich beibehalten.
Aktionäre mit an der OSE gehandelten Aktien können entweder über den offenen Markt verkaufen oder ihre Bestände an die US Depository Trust Company zur NYSE-Handel übertragen. Das Unternehmen wird die VPS-Aktienregistrierung mindestens 12 Monate nach der Delistung aufrechterhalten, sodass die Aktionäre weiterhin über norwegische Broker handeln oder zur DTC migrieren können.
- Consolidation to single NYSE listing may reduce administrative costs
- Maintaining VPS registration for 12 months provides flexibility for shareholders
- Reduced trading venue options for European investors
- Potential decrease in stock liquidity after OSE delisting
- Additional costs for shareholders needing to migrate shares to DTC
Insights
The voluntary delisting from Oslo Stock Exchange represents a significant strategic shift for Borr Drilling, consolidating its trading presence exclusively on the NYSE. This move should reduce administrative costs and streamline operations, though it may temporarily impact Norwegian retail investor accessibility.
The 12-month transition period for VPS-registered shares provides adequate time for shareholders to adjust their positions. While the delisting might initially create some selling pressure as local investors realign their portfolios, the long-term impact should be neutral to positive due to increased trading concentration on NYSE and reduced operational complexity.
The decision aligns with broader market trends where dual-listed companies are simplifying their listing structures. The maintained VPS registration for 12 months demonstrates thoughtful consideration for Norwegian shareholders while executing this strategic change.
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 Exchange ("NYSE").
Shareholders holding shares that are traded at the OSE, held through the Norwegian central securities depository held with Euronext Securities Oslo (commonly known as the "VPS") may divest their shares through open market transactions, or work with their bank or broker to migrate their shares to the Depository Trust Company (DTC) in the US for trading on the NYSE.
The Company intends to maintain its share registration with the VPS for a period of at least 12 months from the effective date of the delisting, allowing shareholders who want to maintain registration of their shares in Euronext Securities Oslo (VPS) to continue trading their shares via a Norwegian broker (outside of the Oslo Stock Exchange) with other investors with shares registered with Euronext Securities Oslo, or migrate their shares to the DTC within such 12-month period.
Forward looking statements
This press release includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward looking statements do not reflect historical facts and may be identified by words such as "will", "expect", "estimate" and similar expressions and include statements relating to our plan to delist our shares from trading on the OSE including our plan to maintain share registration in the VPS for at least 12 months from the effective date of delisting and other non-historical statements. Such forward looking statements are subject to risks, uncertainties, contingencies and other factors could cause actual events to differ materially from the expectations expressed or implied by the forward-looking statements included herein, including risks related to the delisting of our shares form the OSE and other risks and uncertainties described in the section entitled "Risk Factors" in our most recent annual report on Form 20-F and other filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date of this release. We do not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT:
Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208
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SOURCE Borr Drilling Limited
FAQ
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