Borr Drilling Limited - Increase in share capital

Rhea-AI Summary

Borr Drilling Limited has issued 1,000,000 new common shares to be held in treasury for the exercise of share options. The Company's issued share capital is now $25,655,755.30 divided into 256,557,553 common shares.

Positive

• Borr Drilling Limited has increased its share capital by issuing new common shares.

Negative

• None.

HAMILTON, Bermuda, Aug. 16, 2023 /PRNewswire/ -- Borr Drilling Limited (the "Company") (OSE: BORR) (NYSE: BORR) has issued 1,000,000 new common shares to be held in treasury, and used solely for issuance in connection with the exercise of share options vesting under the Company's existing share option program for certain employees. For further information on the share option program please refer to Note 24 of the Company's Annual Report on Form 20-F for the year ended December 31, 2022, which was filed with the Securities and Exchange Commission on March 30, 2023.

The new shares are validly and legally issued and fully paid. Following such issuance, the Company has an issued share capital of $25,655,755.30 divided into 256,557,553 common shares with a par value of $0.10 per share.

August 16, 2023

The Board of Directors

Borr Drilling Limited

Hamilton, Bermuda

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The securities referenced herein will not be and have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of that act.

CONTACT:

Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208

 

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SOURCE Borr Drilling Limited

FAQ

What is the purpose of the new common shares issued by Borr Drilling Limited?

The new common shares are to be held in treasury for the exercise of share options.

How many common shares does Borr Drilling Limited currently have?

Borr Drilling Limited currently has 256,557,553 common shares.

What is the par value of each common share?

The par value of each common share is $0.10.

Has Borr Drilling Limited complied with the disclosure requirements?

Yes, this information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Are the securities referenced in the press release registered in the United States?

No, the securities referenced herein have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.