Paratus Energy Services Approves Shareholder Cash Distribution and Return of Capital
Paratus Energy Services Ltd., listed on the Oslo stock exchange, has made a significant announcement regarding a cash distribution to its shareholders, marking an important step in its commitment to return funds to its investors. The Board of Directors has approved the distribution, indicating a return of capital of USD 0.22 per share from the Company's Contributed Surplus account. This return is particularly noteworthy as it stems from previously paid-in share premiums that were transferred from the Share Premium account.
The board's decision highlights the company's robust financial position and efficient capital management following the completion of several successful contracts in the drilling and subsea services sectors. For shareholders, the key details of the distribution process are as follows:
It’s important to note that while the distribution is declared in USD, actual payments in Norwegian Krone (NOK) will be determined based on the exchange rates applicable at the time of conversion. This ensures that international shareholders will receive an equivalent payment in their respective currencies, as Paratus aims to facilitate a smooth payment process. For shareholders who hold shares outside the Euronext Securities Oslo/VPS, the payout will be managed manually, emphasizing the company's efforts to ensure all shareholders are accommodated.
This capital return aligns with Paratus's strategic goals, as the company continues to strengthen its portfolio through its offshore drilling operations and joint ventures in the energy sector. As detailed, Paratus Energy Services Ltd. primarily consists of its ownership of Fontis Energy, an offshore drilling company operating five high-specification jack-up rigs under contracts in Mexico, alongside a 50/50 joint venture in Seagems, which is known for its subsea services in Brazil. The company is also recognized as the largest shareholder in Archer Ltd., a prominent global oil services company listed on the Euronext Oslo Børs.
With this capital return, Paratus demonstrates its commitment to returning value to its shareholders while maintaining a focus on growth and expansion within the energy services market. Shareholders are encouraged to take note of the important dates associated with this cash distribution and to stay informed of any further developments from the company.
For additional queries, investors can reach out to CFO Baton Haxhimehmedi through email at [email][mailto:[email]] or by phone at +47 406 39 083. This initiative, as mandated by the Norwegian Securities Trading Act, is a proactive step in upholding transparency and compliance with financial regulations. As the energy sector continues to evolve, Paratus Energy Services Ltd. remains poised to navigate the challenges ahead, ensuring a sustainable and profitable future for its stakeholders.
The board's decision highlights the company's robust financial position and efficient capital management following the completion of several successful contracts in the drilling and subsea services sectors. For shareholders, the key details of the distribution process are as follows:
- - Return Amount: USD 0.22 per share
- - Declared Currency: USD
- - Last Day Including Right: March 10, 2025
- - Ex-Date: March 11, 2025
- - Record Date: March 12, 2025
- - Payment Date: March 21, 2025
- - Date of Approval: February 27, 2025
It’s important to note that while the distribution is declared in USD, actual payments in Norwegian Krone (NOK) will be determined based on the exchange rates applicable at the time of conversion. This ensures that international shareholders will receive an equivalent payment in their respective currencies, as Paratus aims to facilitate a smooth payment process. For shareholders who hold shares outside the Euronext Securities Oslo/VPS, the payout will be managed manually, emphasizing the company's efforts to ensure all shareholders are accommodated.
This capital return aligns with Paratus's strategic goals, as the company continues to strengthen its portfolio through its offshore drilling operations and joint ventures in the energy sector. As detailed, Paratus Energy Services Ltd. primarily consists of its ownership of Fontis Energy, an offshore drilling company operating five high-specification jack-up rigs under contracts in Mexico, alongside a 50/50 joint venture in Seagems, which is known for its subsea services in Brazil. The company is also recognized as the largest shareholder in Archer Ltd., a prominent global oil services company listed on the Euronext Oslo Børs.
With this capital return, Paratus demonstrates its commitment to returning value to its shareholders while maintaining a focus on growth and expansion within the energy services market. Shareholders are encouraged to take note of the important dates associated with this cash distribution and to stay informed of any further developments from the company.
For additional queries, investors can reach out to CFO Baton Haxhimehmedi through email at [email][mailto:[email]] or by phone at +47 406 39 083. This initiative, as mandated by the Norwegian Securities Trading Act, is a proactive step in upholding transparency and compliance with financial regulations. As the energy sector continues to evolve, Paratus Energy Services Ltd. remains poised to navigate the challenges ahead, ensuring a sustainable and profitable future for its stakeholders.
Topics General Business）
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