Paratus Energy Services Announces Significant Share Buyback Transactions Under New Program
Paratus Energy Services Ltd. (ticker: PLSV) has launched a share buyback program as part of its strategy to enhance shareholder value. On April 2, 2025, the company announced that it would repurchase up to 1,600,000 shares through open market transactions on the Euronext Oslo Børs. This is a significant move for Paratus, demonstrating its commitment to returning capital to shareholders. The total budget allocated for this buyback is NOK 5 million, which is approximately equivalent to $5 million.
The program began on April 2, 2025, with buying activities expected to conclude by either reaching the maximum number of shares or the target monetary expenditure, or by April 30, 2025. Over the initial three days of the buyback period, Paratus has successfully purchased 101,000 shares, with a daily average share price of approximately NOK 38.0662. The company’s stock repurchase activities are conducted under an agreement with Arctic Securities AS (referred to as Arctic), which facilitates this strategic initiative.
Here’s a summary of the transactions made during the initial buyback period:
Cumulatively, this buyback has resulted in Paratus owning a total of 5,501,000 shares, representing about 3.24% of its overall share capital. This significant ownership level underlines Paratus's proactive approach to managing its equity structure and responding to market conditions.
Paratus Energy Services Ltd. engages in providing energy services and operates through its ownership of key subsidiaries, including Fontis Energy, which is involved in offshore drilling operations, and Seagems, a leader in subsea services. With the buyback initiative, the company is poised not only to enhance shareholder returns but also to reinforce its market reputation as a robust player in the energy sector.
By investing in its own shares, Paratus aims to signal confidence in its performance and future prospects. Such actions typically reflect positively on a company’s business outlook and financial health, potentially attracting more investors looking for stable growth.
For any further inquiries regarding this buyback program or details about Paratus Energy Services, interested parties can contact CEO Robert Jensen or CFO Baton Haxhimehmedi, who are readily available to provide updates and additional insights on the company’s strategic plans and market engagements.
The program began on April 2, 2025, with buying activities expected to conclude by either reaching the maximum number of shares or the target monetary expenditure, or by April 30, 2025. Over the initial three days of the buyback period, Paratus has successfully purchased 101,000 shares, with a daily average share price of approximately NOK 38.0662. The company’s stock repurchase activities are conducted under an agreement with Arctic Securities AS (referred to as Arctic), which facilitates this strategic initiative.
Here’s a summary of the transactions made during the initial buyback period:
| Date | Trading Venue | Shares Purchased | Average Price (NOK) | Total Value (NOK) |
|---|---|---|---|---|
| --- | ---- | ---- | ---- | ----- |
| 2 April 2025 | OSE | 34,000 | 39.5231 | 1,343,787 |
| 3 April 2025 | OSE | 31,000 | 39.0115 | 1,209,355 |
| 4 April 2025 | OSE | 36,000 | 35.8761 | 1,291,540 |
Cumulatively, this buyback has resulted in Paratus owning a total of 5,501,000 shares, representing about 3.24% of its overall share capital. This significant ownership level underlines Paratus's proactive approach to managing its equity structure and responding to market conditions.
Paratus Energy Services Ltd. engages in providing energy services and operates through its ownership of key subsidiaries, including Fontis Energy, which is involved in offshore drilling operations, and Seagems, a leader in subsea services. With the buyback initiative, the company is poised not only to enhance shareholder returns but also to reinforce its market reputation as a robust player in the energy sector.
By investing in its own shares, Paratus aims to signal confidence in its performance and future prospects. Such actions typically reflect positively on a company’s business outlook and financial health, potentially attracting more investors looking for stable growth.
For any further inquiries regarding this buyback program or details about Paratus Energy Services, interested parties can contact CEO Robert Jensen or CFO Baton Haxhimehmedi, who are readily available to provide updates and additional insights on the company’s strategic plans and market engagements.
Topics Financial Services & Investing）
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