#Bermuda #Hamilton #Borr Drilling #Company Resolutions #Bermuda Meeting

Borr Drilling Limited: Results from the 2025 Special General Meeting

Borr Drilling Limited, a key player in the drilling industry, recently convened its Special General Meeting (SGM) on August 6, 2025, at its registered office in Hamilton, Bermuda. This meeting was vital for shareholders, addressing significant governance and structural decisions essential for the company's future direction.

The meeting saw the participation of shareholders who voted on several critical resolutions, all of which were approved. One of the main outcomes was the decision to cap the maximum number of Directors for the company at eight. This move is designed to streamline governance and enhance decision-making efficiency at the board level.

Furthermore, the shareholders elected Mr. Thiago Mordehachvili to join the Board of Directors. His appointment signifies a strategic step to bolster the company’s leadership and align it with its growth aspirations in a competitive market.

An essential resolution approved during the SGM was the increase in authorized share capital from $31.5 million, which encompassed 315 million common shares with a par value of $0.10 each, to $36.5 million. This modification involves authorizing an additional 50 million common shares, reflecting the company’s intent to enhance financial flexibility and support its evolving operational needs.

The increase in share capital is particularly noteworthy as it allows Borr Drilling to pursue new opportunities and investments in the drilling industry. As the demand for offshore drilling services continues to expand, having a robust capital structure will enable Borr to better navigate market fluctuations and capitalize on growth opportunities.

As the drilling market evolves, Borr Drilling is positioning itself to be a leader. The approved resolutions are seen as steps toward strengthening governance and enabling aggressive growth strategies.

Conclusion

Borr Drilling Limited’s recent Special General Meeting has set a significant precedent for the company’s future. By adjusting the board structure and increasing share capital, the company demonstrates its commitment to effective governance and operational agility. As Borr Drilling continues to face the challenges of a dynamic industry, these changes will undoubtedly play a critical role in its success moving forward. The management, led by the new board member Mr. Mordehachvili, is eager to harness these adjustments for maximized shareholder value and enhanced operational capacity.

Inquiries regarding the shareholder meeting and the resolutions can be directed to Magnus Vaaler, Chief Financial Officer, at +44 1224 289208.