Paratus Energy Services Extends Timeline for Share Buyback Program

Paratus Energy Services Extends Timeline for Share Buyback Program



Paratus Energy Services Ltd. (Oslo: PLSV) has announced an extension of its share buyback program initiated earlier this month. Originally set to conclude by April 30, 2025, the buyback period will now last until May 28, 2025, unless the maximum number of shares or the total monetary limit is reached sooner.

The company aims to repurchase up to 1,600,000 shares, with a total consideration equivalent to approximately $5 million in Norwegian Krone (NOK). This move intends to return capital to its shareholders, providing them with additional value from their investments. The buyback was previously highlighted in the company's formal announcement on April 2, 2025.

Paratus has partnered with Arctic Securities AS to manage the execution of the buyback through open market transactions on Euronext Oslo Børs. Importantly, Arctic will operate without influence from Paratus, ensuring that trades are conducted independently as per the established mandate.

The terms and conditions of the buyback program remain unchanged. Once acquired, the shares may be retained in treasury or canceled at the discretion of Paratus's Board of Directors. Furthermore, the buyback strategy is designed to comply with all relevant regulations, including the Market Abuse Regulation (EU Regulation 596/2014).

Robert Jensen, the CEO of Paratus Energy Services, and Baton Haxhimehmedi, the CFO, are both available for inquiries regarding this program. They bring extensive experience to the table, with robust knowledge of the energy service sector, paving the way for effective capital management strategies.

About Paratus Energy Services Ltd.


Paratus Energy Services Ltd. acts as an investment holding company for a selection of top-tier energy service firms. Among its notable assets are Fontis Energy, a leading offshore drilling company operating in Mexico, utilizing a fleet of five high-specification jack-up rigs. Additionally, Seagems, a major subsea services provider with six pipe-laying support vessels operating in Brazil, is part of the Paratus portfolio. Beyond this, Paratus holds a significant stake in Archer Ltd., a globally recognized oil services company listed on the Euronext Oslo Børs.

The decision to extend the buyback period reflects Paratus's commitment to shareholder value and its ongoing strategy to improve capital returns. By carefully managing its financial resources, Paratus reinforces its position in the competitive energy sector, demonstrating a proactive approach to enhance its stakeholders' investment experience.

For any further details, you may contact their corporate communications officer or visit their corporate website for more information regarding operations and financial health. With the oil and gas sector's ongoing changes, Paratus Energy Services is poised for strategic growth and continued shareholder engagement through initiatives like this buyback program.

Topics Financial Services & Investing)

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