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Paratus Energy Completes Significant Share Buyback Program

Paratus Energy Services Ltd. (ticker: "PLSV") has taken a monumental step in its financial strategy with the completion of its recently active share buyback program. This initiative, which began on April 2, 2025, has culminated in the repurchase of 1,415,000 shares over a span of approximately eight weeks, reinforcing the company's commitment to enhancing shareholder value and demonstrating its robust financial position.

Overview of the Buyback Program

Initial announcements indicated a planned repurchase of up to 1,600,000 shares, executed through open market transactions on the Euronext Oslo Børs. In the lead-up to the completion of the program, a total of NOK 50 million, equivalent to about $5 million, was allocated for the buyback operations. The rationale behind this strategy is not only to optimize the company's capital structure but also to signal confidence to investors regarding Paratus's future prospects.

From May 26 to May 28, 2025, Paratus acquired a total of 117,500 shares at an average share price of NOK 36.3673. The transactions took place using the expertise of Arctic Securities AS, with whom the company has an arrangement.

Detailed Transactions Breakdown

The shares were purchased at varying quantities and prices over the concluding days of the buyback program:

• - May 26, 2025: 27,000 shares at NOK 36.1101
• - May 27, 2025: 47,500 shares at NOK 36.3275
• - May 28, 2025: 43,000 shares at NOK 36.5728

In total, the buyback reached an aggregate share price of NOK 35.6992, culminating in an impressive operational performance. The complete transaction history, including previous buybacks under the same program, is detailed in the official transactions document released by the company.

Implications of the Completion

The successful completion of this buyback signifies a significant advancement in Paratus's overall share repurchase authorization, which amounts to $100 million. After concluding this phase of repurchases, the company has approximately $75 million of available capacity remaining under this authorization. Currently, Paratus holds approximately 6.8 million shares, representing around 4.02% of its issued share capital. This tactical move is poised to fortify the company's market position while maximizing shareholder returns.

Looking Ahead

Paratus Energy Services continues to stand as a powerful player within the energy services sector, primarily focusing on offshore drilling through its fleet of high-specification rigs and subsea services. The company is recognized as a substantial shareholder in Archer Ltd, further underlining its strategic investments within the energy landscape.

CEO Robert Jensen emphasized the importance of this program in reassuring investors of the company's commitment to enhancing shareholder value while continuing to budget for future growth opportunities. The firm anticipates leveraging the remaining buyback capacity strategically, thus aligning with broader business goals and market conditions.

For any inquiries or further information, please reach out to Robert Jensen, CEO, at [CEO@example.com] or Baton Haxhimehmedi, CFO, at [CFO@example.com].