#share buyback #Bermuda #Hamilton #Paratus Energy #PLSV

Paratus Energy Services Ltd. Completes Share Buyback Offer

On March 4, 2025, Paratus Energy Services Ltd. (ticker: PLSV) announced the results of its recent share buyback offer, a move strategically aimed at consolidating its shareholdings and enhancing shareholder value. This offer was preceded by a stock exchange announcement released on February 28, 2025, which detailed the conditions and terms of the offer to repurchase its own shares. ABG Sundal Collier ASA acted as the manager for this significant financial undertaking.

Details of the Buyback Offer

The bookbuilding period for the buyback offer closed at 16:30 CET on March 4, 2025. Following this closure, the company confirmed its decision to purchase a total of 5.4 million shares at a price of NOK 41.5 per share. This translates into an aggregate investment of approximately NOK 224.1 million, or around USD 20 million. This strategic acquisition is expected to bolster the company's share performance and enhance its equity structure.

Shareholders who participated in the offer and tendered their shares will receive notifications regarding allocation on March 5, 2025. The trading of these shares is set for the same date, with an anticipation of settlement by March 7, 2025. Transactions will follow a normal delivery-versus-payment basis, ensuring a streamlined process for involved parties.

Cash Distribution Notice

It is important to note that shareholders engaging in this buyback will not be entitled to the recently announced cash distribution. The company declared a USD 0.22 cash distribution as a return of capital set to occur prior to the ex-date on shares sold through the buyback offer. This means that participants who sell their shares in this buyback will miss out on this cash return, an essential fact for shareholders to consider before deciding to participate.

Future Implications

Following the completion of this buyback, Paratus Energy Services Ltd. will hold a total of 5.4 million of its shares, a move that is indicative of its strategy to enhance shareholder value amidst a challenging market landscape. The focus remains on strengthening the company’s financial position and providing long-term returns to its shareholders. The company also maintains a robust portfolio, clearly evidenced by its involvement as a key player in the energy services sector, which includes owning Fontis Energy, an offshore drilling company, alongside a joint venture with Seagems, focusing on subsea services in Brazil.

Conclusion

Paratus Energy Services Ltd. continues to pursue pathways that promote investor confidence and market stability. With this successful buyback offer, the company not only demonstrates its commitment to its shareholders but also solidifies its position in the competitive landscape of energy services. For more detailed inquiries, shareholders and interested parties can contact Robert Jensen, CEO, or Baton Haxhimehmedi, CFO, through their official channels.

In an environment where market fluctuations are commonplace, such decisive actions reflect a proactive approach by Paratus Energy Services to secure its growth trajectory and align its objectives with the interests of its stakeholders. The completion of this buyback signals a positive outlook as the company aims for continued excellence in the energy sector.