Paratus - Extension of Share Buyback Timeline
Paratus - Extension of Share Buyback Timeline |
| [25-April-2025] |
HAMILTON, Bermuda, April 25, 2025 /PRNewswire/ -- Paratus Energy Services Ltd. (Oslo: PLSV) ("Paratus" or the "Company") refers to its announcement dated April 2, 2025, regarding the initiation of a share buyback program (the "Buyback") of up to 1,600,000 shares for a total NOK consideration equivalent to $5 million. The Company announces that it will require additional time to complete the Buyback, which was originally due to expire on April 30, 2025. Accordingly, the Buyback will now 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) May 28, 2025. All other terms of the Buyback remain unchanged. Paratus has engaged Arctic Securities AS ("Arctic") to facilitate the Buyback through open market transactions on Euronext Oslo Børs. Arctic will continue to execute trades independently of, and uninfluenced by, Paratus, subject to the mandate for the Buyback. The purpose of the Buyback remains to provide a return of capital to the Company's shareholders. The shares acquired will be in whole or in part held in treasury or cancelled at the discretion of the Company's Board. The Buyback will otherwise be structured to comply with the regulation regarding buy-back programmes and stabilisation measures (pursuant to the Market Abuse Regulation (EU Regulation 596/2014)). This information is subject to disclosure pursuant to section 5-12 of the Norwegian Securities Trading Act. For further information, please contact: Baton Haxhimehmedi, CFO About Paratus This information was brought to you by Cision http://news.cision.com
SOURCE Paratus Energy Services Ltd | ||
Company Codes: ISIN:BMG6904D1083, Oslo:PLSV |
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