Noble Corporation plc announces changes to its share capital for the month of March 2024
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Insights
The issuance of new A ordinary shares by Noble Corporation plc and the exercise of warrants resulting in additional capital reflects a potential strategy to bolster the company's financial position. The exercise prices, USD 19.27 and USD 23.13 respectively, suggest that the company is capitalizing on its current share value, which may be perceived positively by investors. However, the proceeds of just over USD 4,000 are relatively insignificant in the context of the company's overall capital structure.
The issuance of shares to employees as part of the vesting of restricted stock units is a common form of performance incentive. It aligns employee interests with those of shareholders, potentially driving company performance. However, investors should monitor the dilutive effect of such practices on their holdings. The total number of A ordinary shares now stands at 142,816,359 and while the nominal value is low, the impact on share price and earnings per share is a key consideration for current and prospective shareholders.
The dual listing of Noble's shares on the New York Stock Exchange and Nasdaq Copenhagen offers investors flexibility and may attract a broader investment base, potentially increasing liquidity. The ability to exchange shares between markets could be seen as a strategic move to enhance the attractiveness of Noble's shares to international investors. The uniformity in dividends and voting rights, irrespective of the trading currency, simplifies the investment proposition.
However, it is essential to consider the implications of currency exchange rates on dividends received in different denominations. Investors might prefer the stability of USD dividends, given the currency's global reserve status, but the choice offers strategic flexibility. The impact of this news on the stock market could be neutral to mildly positive, depending on investor perception of Noble's growth prospects and the effectiveness of its capital allocation strategy.
During the period since February 29, 2024, 30,833 new A ordinary shares each with a nominal value of
216 new A ordinary shares have been issued to certain holders of warrants as a consequence of the exercise of warrants. The exercise price was
Additionally, 30,617 new A ordinary shares have been issued to certain employees of Noble at no cost as a result of the vesting of restricted stock units.
The new A ordinary shares carry the same rights as the existing A ordinary shares of Noble. The new A ordinary shares will be listed on the New York Stock Exchange as well as admitted to trading and official listing on Nasdaq Copenhagen.
As a result of the changes, there are a total of 142,816,359 A ordinary shares of Noble issued and outstanding with a nominal value of
Pursuant to section 32 of the Danish Capital Markets Act, Noble also hereby announces the total nominal value of its issued share capital and the total number of voting rights:
Number of shares | Number of voting rights | Share capital | |
A ordinary shares of | 142,816,359 | 142,816,359 | 1,428.16359 |
Total | 142,816,359 | 142,816,359 | 1,428.16359 |
Exchange of shares tradable on Nasdaq Copenhagen for shares tradeable on the New York Stock Exchange
Noble's shares are both listed on the New York Stock Exchange (identified by CUSIP G65431127) and admitted to trading and official listing on Nasdaq Copenhagen (in the form of share entitlements and identified by ISIN GB00BMXNWH07).
Holders of Noble shares (in the form share entitlements) tradeable on Nasdaq Copenhagen can exchange their shares (in the form of share entitlements) for shares tradeable on the New York Stock Exchange after completing a transfer procedure. To transfer shares or share entitlements between markets, shareholders must instruct their financial intermediary (bank or broker) to contact Euronext (Noble's Danish transfer agent). For further information visit https://noblecorp.com/investors/stock-information/FAQ/default.aspx.
While the shares listed on the New York Stock Exchange are denominated in USD and are eligible to receive dividends in USD and the share entitlements admitted to trading and official listing on Nasdaq Copenhagen are traded in DKK and are eligible to receive dividends in DKK, the shares and share entitlements are entitled to identical dividends and voting rights.
About Noble Corporation
Noble is a leading offshore drilling contractor for the oil and gas industry. The Company owns and operates one of the most modern, versatile, and technically advanced fleets in the offshore drilling industry. Noble and its predecessors have been engaged in the contract drilling of oil and gas wells since 1921. Noble performs, through its subsidiaries, contract drilling services with a fleet of offshore drilling units focused largely on ultra-deepwater and high specification jackup drilling opportunities in both established and emerging regions worldwide. For further information visit www.noblecorp.com or email investors@noblecorp.com.
IMPORTANT INFORMATION
This announcement is for information purposes only and does not constitute or contain any invitation, solicitation, recommendation, offer or advice to any person to subscribe for or otherwise acquire or dispose of any securities of Noble.
Certain statements in this announcement, including any attachments hereto, may constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and Noble and its subsidiaries (collectively, the "Noble Group") anticipated or planned financial and operational performance. The words "targets", "believes", "continues", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "estimates", "projects", "potentially" or similar expressions or the negatives thereof, identify certain of these forward-looking statements. The absence of these words, however, does not mean that the statements are not forward-looking. Other forward-looking statements can be identified in the context in which the statements are made.
Although Noble believes that the expectations reflected in these forward-looking statements are reasonable as of the date of this announcement, such forward-looking statements are based on Noble's current expectations, estimates, forecasts, assumptions and projections about the Noble Group's business and the industry in which the Noble Group operates and/or which has been extracted from publications, reports and other documents prepared by the Noble Group and are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other important factors beyond the Noble Group's control that could cause the Noble Group's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.
Any forward-looking statements included in this announcement, including any attachment hereto, speak only as of today. Noble does not intend, and does not assume, any obligations to update any forward-looking statements contained herein, except as may be required by law or the rules of the New York Stock Exchange or Nasdaq Copenhagen. All subsequent written and oral forward-looking statements attributable to Noble or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained in this announcement, including any attachment hereto.
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SOURCE Noble Corporation plc
FAQ
How many new A ordinary shares were issued by Noble plc (NE)?
What was the exercise price for the new A ordinary shares issued to warrant holders?
How many new A ordinary shares were issued to employees of Noble plc (NE) at no cost?
Where will the new A ordinary shares of Noble plc (NE) be listed?
How many A ordinary shares are currently issued and outstanding for Noble plc (NE)?
