Noble Corporation plc announces changes to its share capital for the month of February
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Insights
The issuance of 2,006,120 new A ordinary shares by Noble Corporation plc represents a significant event for shareholders and potential investors. The capital raised through the exercise of warrants, amounting to USD 1,568.80, is relatively modest. However, the issuance of shares at no cost to employees as a result of the vesting of restricted stock units could be indicative of the company's use of equity-based compensation to retain talent. This practice aligns with the broader industry trend where companies incentivize employees with stock options or restricted shares, which can enhance long-term commitment to the company's success.
It is also noteworthy that the new shares carry the same rights as the existing shares, maintaining equitable treatment among shareholders. The listing of new shares on both the New York Stock Exchange and Nasdaq Copenhagen provides liquidity and access to a broader investor base, potentially increasing Noble's visibility and trading volume. Investors should monitor the dilutive effect of the new share issuance on earnings per share, as well as the impact on the company's market capitalization.
The dual listing of Noble's shares, allowing for exchange between Nasdaq Copenhagen and the New York Stock Exchange, offers strategic advantages. It caters to investors in different regions and currencies, which may lead to a more diversified and stable shareholder base. For investors, the ability to receive dividends in either USD or DKK, depending on the exchange they choose, provides flexibility in managing currency exposure.
However, the process of transferring shares between markets requires shareholders to navigate additional steps, which could be a barrier for some. The complexity of managing shares across different exchanges should be weighed against the benefits of broader market access. Investors may also consider the implications of currency fluctuations on dividend payments when shares are traded on different exchanges.
The compliance with the Danish Capital Markets Act, as indicated by the announcement of the total nominal value of issued share capital and the total number of voting rights, is an essential aspect of corporate governance. Noble's adherence to these regulations reflects its commitment to transparency and legal conformity. Shareholders should be reassured by the company's clear communication regarding share capital changes, as it provides a basis for understanding their rights and the value of their investment.
For those interested in the transfer procedure between Nasdaq Copenhagen and the New York Stock Exchange, the legal requirements and steps involved are crucial to ensure a smooth transaction. Noble's provision of detailed instructions and resources on its website demonstrates its effort to facilitate shareholder actions and maintain compliance with cross-border trading regulations.
During the period since January 31, 2024, 2,006,120 new A ordinary shares each with a nominal value of
74 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, 2,006,046 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 142,785,526 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 | 142,785,526 | 142,785,526 | 1,427.85526 |
Total | 142,785,526 | 142,785,526 | 1,427.85526 |
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 Corporation plc?
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