Borr Drilling Limited - Notice of Special General Meeting of Shareholders

Rhea-AI Summary

Borr Drilling Limited (NYSE: BORR) has announced a Special General Meeting scheduled for February 23, 2023, to approve an increase in authorized share capital. This is in response to the successful placement of USD 250 million in senior unsecured convertible bonds, which was disclosed on January 25, 2023. The record date for shareholders eligible to vote at the meeting is set for February 6, 2023. Detailed information regarding the meeting and proxy forms will be available on the company's website and distributed through standard methods.

Positive

• Successful placement of USD 250 million in senior unsecured convertible bonds indicating strong investor interest.

Negative

• The increase in share capital may dilute existing shareholders' equity.

HAMILTON, Bermuda, Feb. 3, 2023 /PRNewswire/ -- Borr Drilling Limited (the "Company") (NYSE: BORR) (OSE: BORR) advises that the Company will hold a Special General Meeting on February 23, 2023 to approve an increase in the Company's authorized share capital required in connection with the successful placement of USD 250 million senior unsecured convertible bonds announced 25 January 2023. The Board of Directors has fixed the close of business on February 6, 2023 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 (the "Notice") and associated information can be found on the Company's website at http://www.borrdrilling.com and attached to this press release. The Notice and associated information will also be distributed to shareholders by normal distribution methods.

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

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

The following files are available for download:

https://mb.cision.com/Public/16983/3708689/9410ac4872817c9c.pdf

Borr Drilling SGM Notice

 

View original content:https://www.prnewswire.com/news-releases/borr-drilling-limited--notice-of-special-general-meeting-of-shareholders-301738263.html

SOURCE Borr Drilling Limited

FAQ

What is the date of Borr Drilling's Special General Meeting?

The Special General Meeting is scheduled for February 23, 2023.

Why is Borr Drilling holding a Special General Meeting?

The meeting is to approve an increase in authorized share capital related to a USD 250 million bond placement.

What is the record date for Borr Drilling shareholders?

The record date is set for February 6, 2023.

What financial action did Borr Drilling announce on January 25, 2023?

They announced the successful placement of USD 250 million in senior unsecured convertible bonds.