#Bermuda #Hamilton #Paratus Energy #James Ayers #Mei Mei Chow

Paratus Energy Services Ltd. 2026 AGM Results

On May 12, 2026, Paratus Energy Services Ltd. conducted its Annual General Meeting (AGM) at the Par-la-Ville Place in Hamilton, Bermuda. The meeting was attended by shareholders and key stakeholders where critical resolutions concerning board governance and company oversight were discussed and approved.

Highlights of the Meeting

During the AGM, shareholders reviewed the audited financial statements for the fiscal year ending December 31, 2025. The assessments of the company’s performance revealed strong growth and positioned the company favorably in the energy sector. Subsequently, several resolutions were put forward and passed:

1. Director Limits: The maximum number of directors for the board was set to not exceed eight.
2. Casual Vacancies: The board was authorized to fill casual vacancies from existing directors as per their discretion.
3. Re-elections: The re-elections of several directors were executed successfully:
- James Ayers
- Joachim Bale
- Mark Mey
- Dag Skindlo
4. Auditor Re-appointment: KPMG AS was reaffirmed as the company’s external auditor, with the board given the power to determine their remuneration.
5. Director Remuneration: Approval was granted for a total remuneration fee not exceeding $600,000 for the Board of Directors for the year ending December 31, 2026.

Notable Resignation

A significant change occurred as Mei Mei Chow, who has been a longstanding director and pivotal in the company’s developmental journey, was not re-elected. Chow's tenure encompassed critical phases including the company’s restructuring and the successful carve-out from Seadrill, which led to its listing on the Euronext Oslo Stock Exchange. In her farewell, the Board expressed profound gratitude for Chow’s leadership and contributions, marking her impact during her years with Paratus. The company wishes her success in her future endeavors.

Overview of Paratus Energy Services

Paratus Energy Services Ltd. operates as an investment holding entity for several prominent energy service companies. Its portfolio is strategically anchored with ownership stakes in Fontis Energy—an offshore drilling firm that manages five advanced jack-up rigs located in Mexico—and a 50/50 joint venture in Seagems, which specializes in subsea services and maintains six versatile pipe-laying support vessels based in Brazil.

This AGM marks an essential step in continuing Paratus's commitment to strong governance and progressive leadership within the energy sector. The outcomes not only underscore the company’s direction but also reflect its robust operational capability within a competitive marketplace.

As Paratus Energy navigates through volatile market conditions, stakeholders can anticipate further developments as the company positions itself for future growth, leveraging a clear strategic framework and focused leadership.

For more details about this announcement, stakeholders can contact Baton Haxhimehmedi, the Chief Financial Officer and Interim Chief Executive Officer, at [email protected] or via phone at +47 4063 9083. This comprehensive meeting solidifies Paratus Energy’s strategy and business direction as it looks toward a prosperous future.