Borr Drilling Limited - SGM Results Notification

Rhea-AI Summary

Borr Drilling Limited (NYSE: BORR) held a Special General Meeting on January 8, 2021, in Hamilton, Bermuda. The meeting resulted in the approval of a significant increase in the company's authorized share capital, raising it from US$11,932,692.30 to US$14,500,000.00. This change includes the authorization of an additional 51,346,154 common shares, maintaining the par value of US$0.05 per share. This strategic move aims to enhance the company's financial flexibility and support future business initiatives.

Positive

• Increased authorized share capital from US$11,932,692.30 to US$14,500,000.00.
• Authorization of an additional 51,346,154 common shares to support business growth.

Negative

• None.

HAMILTON, Bermuda, Jan. 11, 2021 /PRNewswire/ -- Borr Drilling Limited (the "Company") (NYSE: BORR) (OSE: BDRILL) advises that a Special General Meeting of the Company was held on January 8, 2021 at 09:30 ADT 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$11,932,692.30 divided into 238,653,846 common shares of US$0.05 par value each to US$14,500,000.00 divided into 290,000,000 common shares of US$0.05 par value each by the authorization of an additional 51,346,154 common shares of US$0.05 par value each.

Hamilton, Bermuda

January 11, 2021

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/borr-drilling-limited/r/borr-drilling-limited---sgm-results-notification,c3265846

 

View original content:http://www.prnewswire.com/news-releases/borr-drilling-limited--sgm-results-notification-301204927.html

SOURCE Borr Drilling Limited

FAQ

What resolution was passed at the January 8, 2021, Special General Meeting of Borr Drilling?

The resolution approved an increase in the company's authorized share capital from US$11,932,692.30 to US$14,500,000.00.

How many additional shares were authorized at Borr Drilling's Special General Meeting?

An additional 51,346,154 common shares were authorized.

What is the par value of the common shares for Borr Drilling?

The par value of the common shares is US$0.05.

Where was Borr Drilling's Special General Meeting held?

The meeting was held in Hamilton, Bermuda.

When did Borr Drilling hold its Special General Meeting?

The meeting took place on January 8, 2021.