HAMILTON, Bermuda, April 7, 2025 /PRNewswire/ — Reference is made to the stock exchange announcement made by Paratus Energy Services Ltd. (ticker “PLSV”) (“Paratus” or the “Company”) on April 2, 2025 regarding the initiation of a repurchase of up to 1,600,000 shares by way of open market transactions on the Euronext Oslo Børs (the “Buyback”), pursuant to an agreement with Arctic Securities AS (“Arctic”). A total NOK amount equivalent to $5 million has been set aside for the Buyback.
The Buyback commenced on April 2, 2025, and will remain in effect until the earlier of; (i) the acquisition of the maximum number of shares as set above; (ii) the maximum total consideration as set out above has been reached; or (iii) April 30, 2025.
For the period from April 2, 2025, to and including April 4, 2025, the Company purchased a total of 101,000 shares at an average price of NOK 38.0662 per share. All transactions during the period were carried out under the agreement with Arctic and comprise all transactions made by or on behalf of the Company.
Please find below the transaction overview:
|
Transaction overview |
||||
|
Date |
Trading venue |
Aggregated daily volume (number of shares) |
Daily weighted average share price (NOK) |
Total daily transaction 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 |
|
Previously disclosed buyback under the program (accumulated) |
– |
– |
– |
– |
|
Accumulated buyback under the program |
OSE |
101,000 |
38.0662 |
3,844,682 |
Following the completion of the above transactions, the Company owns a total of 5,501,000 of own shares, corresponding to 3.24% of the Company’s share capital.
An overview of all transactions made under the Buyback that have been carried out during the above-mentioned time period is attached to this notice and available at www.newsweb.no.
For further information, please contact:
Robert Jensen, CEO
[email protected]
+47 958 26 729
Baton Haxhimehmedi, CFO
[email protected]
+47 406 39 083
About Paratus
Paratus Energy Services Ltd. (ticker: PLSV) is an investment holding company of a group of leading energy services companies. The Paratus Group is primarily comprised of its ownership of Fontis Energy and a 50/50 JV interest in Seagems. Fontis Energy is an offshore drilling company with a fleet of five high -specification jack-up rigs working under contracts in Mexico. Seagems is a leading subsea services company, with a fleet of six multi-purpose pipe-laying support vessels under contracts in Brazil. In addition, Paratus is the largest shareholder in Archer Ltd, a global oil services company, listed on the Euronext Oslo Børs.
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SOURCE Paratus Energy Services Ltd
