HAMILTON, Bermuda, Oct. 27,
2023 /PRNewswire/ -- Borr Drilling Limited
(NYSE: BORR) and (OSE: BORR) (the «Company») refers to the
private placement of 7,522,838 new shares (the «New Shares»)
at a subscription price of NOK
74/USD 6.65 (the
«Subscription Price») announced on 24
October 2023 (the «Private Placement»).
Drew Holdings Ltd. («Drew»), a close associate of Mr. Tor
Olav Trøim, has subscribed to and received 752,284 of the New
Shares at the Subscription Price. Mr. Trøim is the chair of Borr's
board and thus, as per the Market Abuse Directive, a person
discharging managerial responsibilities in Borr (a
«PDMR»).
Drew has, on receipt of the New Shares, sold these and concluded
a Total Return Swap-agreement with DNB Bank ASA for the same number
of shares in Borr for a period expiring on 5
January 2024 at NOK 74.911 per
share. Drew thus retains the financial exposure to the same number
of shares in Borr.
Mr. Trøim and his close associates will, following the
completion of these transactions, own 15,822,385 shares in Borr and
be financially exposed to a further 752,284 shares as per the
above.
A completed PDMR form reflecting the above is attached
hereto.
Hamilton, Bermuda
27 October 2023
This information is subject to the disclosure requirements in
Article 19 of the Market Abuse Regulation and section 5-12 of the
Norwegian Securities Trading Act.
CONTACT:
Questions should be directed to:
Magnus Vaaler, CFO, +44 1224
289208
The following files are available for download:
|
https://mb.cision.com/Public/16983/3863780/b0a4563627a9936c.pdf
|
231027 PDMR
Form
|
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SOURCE Borr Drilling Limited